Los Angeles Market Update | Q4 2017

Q4 | 2017

Greater Los Angeles

Market Update

BRENTWOOD

sothebyshomes.com/0344198 Offered at $35,000,000

BIRD STREETS

sothebyshomes.com/1290585 Offered at $9,450,000

Greater Los Angles 06 08

Bel-Air | Holmby Hills

10 12

22

28 30 32 34

Hancock Park | Wilshire Los Feliz Malibu

24 26

Brentwood Downtown Los Angeles

18 20

Beverly Hills Beverly Hills Post Office

14 16

Market Snapshot

Pacific Palisades Santa Monica

Silver Lake | Echo Park Sunset Strip | Hollywood Hills

Venice West Hollywood

sothebyshomes.c Offered at

a message from

Frank Symons

EVP/COO, Western Region I take great pleasure in presenting the Greater Los Angeles Market Update for the final quarter of 2017.

The Greater Los Angeles real estate market finished the year strongly with over 1,092 homes sold in 2017. According to the CLAW MLS, in the fourth quarter of 2017, Los Angeles housing prices reached new records with the average selling price rising to $2.55M, a 6% increase compared to this time last year. The overall median selling price increased year over year for the fourt consecutive year to a high of $1.68M compared to $1.41M in the fourth quarter of last year. Demand continued to be very high and inventory continued to decline, as did the average days on market; 84 days compared to 92 days at the end of 2016.

I hope that you enjoy exploring our quarterly market update and I invite you to discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you in the sale or purchase of property in California or anywhere else, please call me at (310) 786-1801 so that I may personally introduce you to a local expert.

GREATER LOS ANGELES BROKERAGES

Beverly Hills | Brentwood | Los Feliz | Malibu | Pacific Palisades | Santa Monica | Sunset Strip

sothebyshomes.com/socal

MALIBU

com/1300324 $23,950,000

All data within this document is pulled from the Los Angeles MLS. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

Market Snapshot

Q4 | Greater Los Angeles

Sold Volume - all areas by price Units vs MSP vs ASP 1120

$3,000,000

Below $1M

1100 $2,500,000

1080 1060

$2,000,000

$5M and Above

1040 1020

$1,500,000

$1M - $5M

1000 $1,000,000

980 960

$500,000

940 $Below $1M

$1M - $5M

$5M and Above

920

2014 units

Sales Volume by Price Category 8% 57 % 36 %

ASP

2016

2017

Median

Median Selling Price vs. Average Selling Price vs. Total Units Sold

Under $1 Million

Average Selling Price

$1 Million to $5 Million

Median Sale Price

Over $5 Million

Total Units Sold

Los Angeles Q4 Market Update / Q4 Highlights / 6

2015

Comparison

by Neighborhood Q4 | Greater Los Angeles

Median current quarter only Median current quarter only $7,000,000

$7,000,000 $6,000,000

$6,000,000 $5,000,000

$5,000,000 $4,000,000

$4,000,000 $3,000,000

$3,000,000 $2,000,000

$2,000,000 $1,000,000

$1,000,000 $-

Median Selling Price 2.4m $ 6.1m $ 3.4m $ 3.3m $ 0.4m $

Bel-Air | Holmby Hills Beverly Hills Beverly Hills Post Office Brentwood Downtown Los Angeles

1.7m $ 1.7m $ 2.4m $ 3.3m $ 3.5m $

Hancock Park / Wilshire Los Feliz Malibu Pacific Palisades Santa Monica

1.1m $1.8m $2.0m $1.7m $

West Hollywood Vicinity

Venice

Sunset Venice West Strip Hollywood Hollywood Vicinity Hills West

Sunset Strip - Hollywood Hills West

Silver Lake - Echo Park

Santa Silver Lake Monica - Echo Park

Santa Monica

Pacific Palisades

Pacific Palisades

Malibu

Malibu

Los Feliz

Downtown L.A.

Hancock Park - Wilshire

Beverly Brentwood Downtown Hancock Los Feliz Hills Post L.A. Park Office Wilshire

Brentwood

Beverly Hills

Beverly Hills Post Office

Holmby Hills

Beverly Hills

Bel Air - Holmby Hills

$- Bel Air -

Silver Lake | Echo Park Sunset Strip | Hollywood Hills Venice West Hollywood

at a glance {Q4 | 2017}

bel-air | holmby hills

71

%

Change in Median Selling Price {2017 v 2016}

88 Average Days on Market

46 Units Sold

2.4m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold $6,000,000

50 45

$5,000,000

40 35

$4,000,000

30 $3,000,000

25 20

$2,000,000

15 10

$1,000,000

5 $-

0

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Bel-Air & Holmby Hills Bel-Air’s stately gates off Sunset Boulevard lead down winding streets lined with lavish homes with lush vegetation. Popular with celebrities and entertainment industry elite, the neighborhood is home to the landmark Hotel Bel-Air, and offers a rare kind of seclusion in a non-stop city. sothebyshomes.com/belair

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

71.2%

-

35.3%

38.8%

-19.4%

2017

$2,440,000

-2.4%

46

143

88

2016

$1,425,000

-3.4%

34

103

109

2015

$2,212,500

-5.9%

29

86

95

2014

$1,750,000

-2.7%

39

94

104

/

9 Bel Air | Holmby Hills

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold $9,000,000

50

$8,000,000

45

$7,000,000

40 35

$6,000,000

30

$5,000,000

25

$4,000,000

20

$3,000,000

15

$2,000,000

10

$1,000,000

5

$-

0

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Beverly Hills Whether you are an art aficionado or feel the lure of the unparalleled shopping of Rodeo Drive, Beverly Hills is known worldwide as a premier destination for luxury. sothebyshomes.com/beverlyhills

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

63.8%

-

-26.1%

20.7%

0.7%

2017

$6,137,500

-11.3%

34

105

108

2016

$3,747,500

-4.3%

46

87

107

2015

$5,757,500

4.8%

31

69

85

2014

$4,395,000

0.0%

35

63

104

Los Angeles Q4 Market Update / Beverly Hills / 10

at a glance {Q4 | 2017}

beverly hills

63.8

%

Change in Median Selling Price {2017 v 2016}

108 Average Days on Market

34 Units Sold

6.1m

$

Median Selling Price

at a glance {Q4 | 2017}

beverly hills post office

22.8

%

Change in Median Selling Price {2017 v 2016}

104 Average Days on Market

38 Units Sold

3.4m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold $5,000,000

45

$4,500,000

40

$4,000,000

35

$3,500,000

30

$3,000,000

25

$2,500,000

20

$2,000,000

15

$1,500,000

10

$1,000,000

5

$500,000

0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

BeverlyHills Post Office Beverly Hills Post Office is home to grand estates, mansions, as well as some of the most celebrated gated communities. The hillside location offers incredible views of the Los Angeles basin, Pacific Ocean, and Catalina Island. sothebyshomes.com/bhpo

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

22.8%

-

18.8%

4.5%

-22.7%

2017

$3,437,500

-3.0%

38

140

104

2016

$2,800,000

-1.6%

32

134

135

2015

$2,520,000

-2.9%

38

110

108

2014

$2,547,500

-6.4%

40

100

118

/

13 Beverly Hills Post Office

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold 140

$5,000,000 $4,500,000

120

$4,000,000 100

$3,500,000 $3,000,000

80

$2,500,000 60

$2,000,000 $1,500,000

40

$1,000,000 20

$500,000

0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Brentwood Brentwood is known for its palatial estates and laid-back California elegance. It’s the perfect enclave for dining at Katsu-ya or biking down San Vicente to the ocean. Perched on a hill above this chic neighborhood, take in the architecture and art on display at the Getty Center. sothebyshomes.com/brentwood

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

14.4%

-

121.1%

29.8%

-25.3%

2017

$3,337,500

1.9%

126

122

79

2016

$2,918,000

-2.6%

57

94

105

2015

$2,890,000

1.4%

55

95

86

2014

$2,440,000

1.9%

71

69

78

Los Angeles Q4 Market Update / Brentwood / 14

at a glance {Q4 | 2017}

brentwood

14.4

%

Change in Median Selling Price {2017 v 2016}

79 Average Days on Market

126 Units Sold

3.3m

$

Median Selling Price

at a glance {Q4 | 2017}

downtown los angeles

15.6

%

Change in Median Selling Price {2017 v 2016}

153 Average Days on Market

34 Units Sold

0.4m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold 40

$500,000 $450,000

35

$400,000

30

$350,000

25

$300,000 $250,000

20

$200,000

15

$150,000

10

$100,000

5

$50,000 $-

0

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Downtown Los Angeles Downtown L.A. offers urban living at its finest, and is the heart of L.A.’s art boom which has put the city on the world stage of contemporary art. Gleaming new landmark lofts, a central business district, and popular revolving art attract thousands of new residents to every year. sothebyshomes.com/dtla

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

15.6%

-

17.2%

70.8%

35.2%

2017

$376,750

-5.2%

34

41

153

2016

$326,000

-1.2%

29

24

113

2015

$304,892

-2.1%

24

32

100

2014

$232,500

1.1%

14

29

81

/

17 Downtown Los Angeles

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold 76

$2,200,000

74

$2,100,000

72 $2,000,000

70

$1,900,000

68 66

$1,800,000

64 $1,700,000

62

$1,600,000

60

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Hancock Park/Wilshire Centrally located and surrounded by the Wilshire Country Club, Hancock Park boasts some of the best classical Los Angeles architecture, making it one of the most desirable areas in all of Southern California. sothebyshomes.com/hancockpark

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

-1.6%

-

7.7%

-29.0%

-24.3%

2017

$1,672,500

-0.6%

70

66

75

2016

$1,699,000

-5.3%

65

93

98

2015

$1,355,000

0.4%

67

79

73

2014

$1,265,000

1.3%

74

86

95

Los Angeles Q4 Market Update / Hancock Park | Wilshire/ 18

at a glance {Q4 | 2017}

hancock park/wilshire

1.6

%

Change in Median Selling Price {2017 v 2016}

75 Average Days on Market

70 Units Sold

1.7m

$

Median Selling Price

at a glance {Q4 | 2017}

los feliz

-4.5

%

Change in Median Selling Price {2017 v 2016}

67 Average Days on Market

49 Units Sold

1.7m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold 60

$2,500,000

50

$2,000,000

40 $1,500,000 30 $1,000,000 20 $500,000

10

0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Los Feliz Los Feliz is a creative neighborhood with an independent vibe all its own. This historic neighborhood is steeped in architectural history, boasting homes designed by Richard Neutra, John Lautner, and Frank Lloyd Wright. sothebyshomes.com/losfeliz

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

-4.5%

-

8.9%

15.8%

-25.1%

2017

$1,720,000

1.2%

49

66

67

2016

$1,801,000

0.1%

45

57

89

2015

$1,539,500

-3.6%

44

61

89

2014

$1,278,600

2.3%

57

55

85

/

21 Los Feliz

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold $4,000,000

50 45

$3,500,000

40

$3,000,000

35

$2,500,000

30

$2,000,000

25 20

$1,500,000

15

$1,000,000

10

$500,000

5 0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price About

Malibu With nearly 27 miles of gorgeous coastline covered in pristine beaches, Malibu is one of the most storied oceanfront communities on the West Coast. The area offers long strands of private beaches, world-class surfing at Zuma and El Matador, and front-row seats to unforgettable sunsets. Malibu is both classic California and understated/rustic elegance. sothebyshomes.com/malibu

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

-9.6%

-

20.0%

14.2%

-5.4%

2017

$2,395,000

-4.2%

42

185

160

2016

$2,650,000

0.0%

35

162

169

2015

$2,495,000

-0.2%

41

170

172

2014

$2,400,000

-5.8%

45

169

196

Los Angeles Q4 Market Update / Malibu / 22

at a glance {Q4 | 2017}

malibu

9.6

%

Change in Median Selling Price {2017 v 2016}

160 Average Days on Market

42 Units Sold

2.4m

$

Median Selling Price

at a glance {Q4 | 2017}

pacific palisades

2.5

%

Change in Median Selling Price {2017 v 2016}

91 Average Days on Market

57 Units Sold

3.3m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold 62

$5,000,000 $4,500,000

60

$4,000,000

58

$3,500,000

56

$3,000,000 $2,500,000

54

$2,000,000

52

$1,500,000

50

$1,000,000

48

$500,000 $-

46

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Pacific Palisades More a retreat than an urban neighborhood, the Palisades sits against a stunning backdrop with views of the Santa Monica mountains, the Pacific Coast, and several canyons that run between them. The Palisades are a green oasis within Los Angeles. sothebyshomes.com/pacificpalisades

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

2.5%

-

9.6%

-3.1%

-10.5%

2017

$3,340,000

-1.6%

57

95

91

2016

$3,259,000

-6.7%

52

98

102

2015

$2,927,500

1.1%

61

89

89

2014

$2,181,000

-1.9%

54

72

79

/

25 Pacific Palisades

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold $4,000,000

70

$3,500,000

60

$3,000,000

50

$2,500,000 40 $2,000,000 30 $1,500,000 20

$1,000,000

10

$500,000

0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Santa Monica L.A.’s premier beach destination, Santa Monica blends urban energy, beach town atmosphere, and world-class oceanfront hotels like Shutters and Casa Del Mar, whose back yard is the glorious Pacific Ocean. sothebyshomes.com/santamonica

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

39.4%

-

17.6%

30.0%

-1.2%

2017

$3,235,000

-1.8%

60

65

73

2016

$2,320,000

3.1%

51

50

74

2015

$2,547,500

-6.3%

44

66

75

2014

$2,212,500

3.0%

64

45

76

Los Angeles Q4 Market Update / Santa Monica / 26

at a glance {Q4 | 2017}

santa monica

39.4

%

Change in Median Selling Price {2017 v 2016}

73 Average Days on Market

60 Units Sold

3.2m

$

Median Selling Price

at a glance {Q4 | 2017}

silver lake / echo park

18.3

%

Change in Median Selling Price {2017 v 2016}

67 Average Days on Market

97 Units Sold

1.1m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold 120

$1,400,000 $1,200,000

100

$1,000,000

80

$800,000 60 $600,000 40

$400,000

20

$200,000

0

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Silver Lake/Echo Park Rock ‘n’ roll attitudes contrast the refined and modern homes of Silver Lake. This hilly neighborhood is one of L.A.’s most walkable areas and is home of its namesake reservoir and cutting-edge music scene. sothebyshomes.com/silverlake

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

18.3%

-

27.6%

19.4%

-24.8%

2017

$1,060,642

6.2%

97

80

67

2016

$896,447

5.5%

76

67

89

2015

$849,000

1.9%

96

82

81

2014

$750,000

1.4%

83

55

75

/

29 Silver Lake | Echo Park

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold 140

$2,450,000 $2,400,000

120

$2,350,000 100

$2,300,000 $2,250,000

80

$2,200,000 60

$2,150,000 $2,100,000

40

$2,050,000 20

$2,000,000

0

$1,950,000

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

Sunset Strip/Hollywood Hills Hollywood’s fame is rooted in its cultural identity, peerless entertainment industry, and historical significance as the origin of American cinema. Get a perfect martini at Musso & Frank’s, which has been serving drinks since 1919 to the likes of Charlie Chaplin and William Faulkner, and then stroll down to the Roosevelt Hotel for a nightcap. sothebyshomes.com/sunsetstrip

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

6.9%

-

36.0%

31.0%

12.3%

2017

$1,844,250

1.1%

121

300

102

2016

$1,725,000

-1.4%

89

229

91

2015

$1,692,500

-1.9%

112

209

90

2014

$1,832,038

-6.2%

100

191

100

Los Angeles Q4 Market Update / Sunset Strip | Hollywood Hills / 30

at a glance {Q4 | 2017}

sunset strip / hollywood hills

6.9

%

Change in Median Selling Price {2017 v 2016}

102 Average Days on Market

121 Units Sold

1.8m

$

Median Selling Price

at a glance {Q4 | 2017}

venice

8.2

%

Change in Median Selling Price {2017 v 2016}

79 Average Days on Market

57 Units Sold

2.0m

$

Median Selling Price

ASP vs Closed Units

Average Selling Price | Total Units Sold 58

$3,000,000

57 $2,500,000

56 55

$2,000,000

54 53

$1,500,000

52 $1,000,000

51 50

$500,000

49 48

$-

2014

2015

2016

2017 Total Units Sold

Average Selling Price About

Venice Welcome to the heart of Silicon Beach. Admire the street art and commissioned murals in old Venice, alongside a new community of creative entrepreneurs, startups, and venture capitalists.

Stroll through Abbot Kinney, the “coolest block in America.� Explore the historic Venice Canals, a tranquil and hidden gem, and finish the evening with dinner at Gjelina. sothebyshomes.com/venice

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

8.2%

-

11.8%

6.9%

-14.4%

2017

$1,985,000

-0.1%

57

77

79

2016

$1,835,000

-0.8%

51

72

92

2015

$1,635,000

2.3%

52

52

79

2014

$1,620,675

-3.2%

53

36

85

/

33 Venice

/ Los Angeles Q4 Market Update

ASP vs Closed Units

Average Selling Price | Total Units Sold 45

$2,500,000

40 $2,000,000

35 30

$1,500,000

25 20

$1,000,000

15 10

$500,000

5 $-

0

2014

2015

2016

2017 Total Units Sold

Average Selling Price

About

West Hollywood West Hollywood is a thriving, diverse community on the leading edge of culture, entertainment, and design. “WeHo” is home to the Pacific Design Center and ground zero for Los Angeles’s thriving Interior Design and Architectural community. sothebyshomes.com/westhollywood

Q4

Median Sale Price Closed Active Average Days Selling Price vs. List Price Units Inventory on Market

{2017 vs. 2016}

Change

-0.5%

-

18.2%

-16.7%

21.9%

2017

$1,659,000

-2.1%

39

40

90

2016

$1,668,000

-3.0%

33

48

74

2015

$1,525,000

1.9%

30

32

87

2014

$1,189,500

8.4%

32

28

83

Los Angeles Q4 Market Update / West Hollywood / 34

at a glance {Q4 | 2017}

west hollywood

-0.5

%

Change in Median Selling Price {2017 v 2016}

90 Average Days on Market

39 Units Sold

1.7m

$

Median Selling Price

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