local market report: westside
DESCRIPTION
September 2014TRANSCRIPT
Los Angeles - Westside
RodeoRE.com
At Rodeo Realty, we believe education is the key to helping clients make the best possible decisions about buying and selling homes. Our Local Market Reports provide comprehensive analyses of real estate trends in specific communities, versus quoting national, state, and/or county statistics. The fact is market conditions can vary greatly from neighborhood to neighborhood, and sometimes from one block to the next.
Local Market ReportSeptember 2014
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Bel Air - Holmby Hills
Beverly Center - Miracle Mile
Beverly Hills
Beverly Hills P.O.
Beverlywood
Brentwood
Cheviot Hills - Rancho Park
Culver City
Hancock Park - Wilshire
Hollywood
Hollywood Hills East
Los Feliz
Malibu
Malibu Beach
Table of Contents
Rodeo RealtyR o d e o R E . c om
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Marina del Rey
Mid Los Angeles
Mid Wilshire
Pacific Palisades
Palms - Mar Vista
Playa Vista
Santa Monica
Silverlake - Echo Park
Sunset Strip - Hollywood Hills West
Venice
West Hollywood
West Los Angeles
Westwood - Century City
16
17
18
19
20
21
22
23
24
25
26
27
28
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Bel Air-Holmby Hills
Sept. 2013 Sept. 2014 %Change
Median Price $1,650,000 $3,105,000 88
Properties Sold 13 9 31
Sales Volume $41,406,800 $40,500,000 -2
Properties Pending Sale 13 8 -38
Properties For Sale 142 128 -10
Average Days on Market 100 60 -40
Month’s Supply of Inventory 9 13 44
Percent Under Contract 9.2 6.3 -32
Rodeo RealtyR o d e o R E . c om
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Center - Miracle Mile
Sept 2013 Sept 2014 %Change
Median Price $1,129,444 $1,580,250 40
Properties Sold 18 20 11
Sales Volume $19,953,433 $34,590,500 73
Properties Pending Sale 15 22 47
Properties For Sale 55 69 25
Average Days on Market 35 39 11
Month’s Supply of Inventory 2 2 0
Percent Under Contract 27.3 31.9 17
Rodeo RealtyR o d e o R E . c om
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Beverly Hills
Sept 2013 Sept 2014 %Change
Median Price $4,120,000 $4,067,500 -1
Properties Sold 13 10 -23
Sales Volume $58,798,166 $46,482,500 -21
Properties Pending Sale 6 15 150
Properties For Sale 125 99 -21
Average Days on Market 26 57 119
Month’s Supply of Inventory 18 4 -78
Percent Under Contract 4.8 15.2 216
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo RealtyR o d e o R E . c om
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Beverly Hills P.O.
Sept 2013 Sept 2014 %Change
Median Price $1,700,000 $3,250,000 91
Properties Sold 16 7 -56
Sales Volume $39,332,000 $33,655,000 -14
Properties Pending Sale 16 13 -19
Properties For Sale 158 132 -16
Average Days on Market 71 88 24
Month’s Supply of Inventory 8 8 0
Percent Under Contract 10.1 9.8 -3
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
Rodeo RealtyR o d e o R E . c om
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Beverlywood
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,040,000 $1,000,000 -4
Properties Sold 14 15 7
Sales Volume $13,042,500 $15,092,000 16
Properties Pending Sale 14 20 43
Properties For Sale 67 64 -4
Average Days on Market 47 39 -17
Month’s Supply of Inventory 3 2 -33
Percent Under Contract 20.9 31.3 50
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Brentwood
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $2,180,000 $3,003,000 38
Properties Sold 20 19 19
Sales Volume $33,472,000 $69,220,146 107
Properties Pending Sale 16 22 38
Properties For Sale 113 110 -3
Average Days on Market 39 51 31
Month’s Supply of Inventory 5 4 -20
Percent Under Contract 14.2 20.0 41
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Cheviot Hills - Rancho Park
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,211,000 $2,022,500 67
Properties Sold 9 2 -78
Sales Volume $14,304,500 $4,045,000 -72
Properties Pending Sale 10 7 -13
Properties For Sale 19 24 26
Average Days on Market 32 19 -41
Month’s Supply of Inventory 1 2 100
Percent Under Contract 42.1 29.2 -31
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Culver City
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $744,152 $806,000 8
Properties Sold 24 21 -13
Sales Volume $16,251,305 $16,740,600 3
Properties Pending Sale 18 22 22
Properties For Sale 59 47 -20
Average Days on Market 37 35 -5
Month’s Supply of Inventory 2 1 -50
Percent Under Contract 30.5 46.8 53
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hancock Park - Wilshire
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,140,000 $1,330,000 17
Properties Sold 25 13 -48
Sales Volume $32,470,000 $20,978,770 -35
Properties Pending Sale 30 20 -33
Properties For Sale 134 125 -7
Average Days on Market 36 58 61
Month’s Supply of Inventory 3 4 33
Percent Under Contract 22.4 16.0 -29
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hollywood
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $572,000 $655,000 15
Properties Sold 5 5 0
Sales Volume $1,930,000 $5,139,000 166
Properties Pending Sale 6 10 67
Properties For Sale 35 33 -6
Average Days on Market 44 33 -48
Month’s Supply of Inventory 4 2 -50
Percent Under Contract 17.1 30.3 77
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Hollywood Hills East
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,095,000 $1,166,000 6
Properties Sold 13 11 -15
Sales Volume $15,437,830 $12,362,737 -20
Properties Pending Sale 14 14 0
Properties For Sale 80 76 -5
Average Days on Market 62 63 2
Month’s Supply of Inventory 4 4 0
Percent Under Contract 17.5 18.4 5
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Los Feliz
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sep 2014 %Change
Median Price $1,309,500 $1,063,500 -19
Properties Sold 20 21 5
Sales Volume $24,031,150 $35,973,000 50
Properties Pending Sale 16 18 13
Properties For Sale 90 88 -2
Average Days on Market 27 59 119
Month’s Supply of Inventory 4 3 -25
Percent Under Contract 17.8 20.5 15
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,712,500 $3,372,500 97%
Properties Sold 18 18 0%
Sales Volume $34,699,000 $89,248,800 157%
Properties Pending Sale 21 17 -19%
Properties For Sale 246 211 -14%
Average Days on Market 154 132 -14%
Months Supply of Inventory 10 10 0%
Percent Under Contract 8.5% 8.1% -6%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Malibu Beach
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $5,353,750 $7,950,000 48%
Properties Sold 2 3 50%
Sales Volume $10,707,500 $23,150,000 116%
Properties Pending Sale 3 4 33%
Properties For Sale 87 70 -20%
Average Days on Market 92 188 104%
Months Supply of Inventory 26 14 -46%
Percent Under Contract 3.4% 5.7% 66%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Marina del Rey
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $976,000 $1,557,500 60%
Properties Sold 3 6 100%
Sales Volume $3,306,000 $10,169,500 208%
Properties Pending Sale 3 4 33%
Properties For Sale 21 21 0%
Average Days on Market 32 41 28%
Months Supply of Inventory 6 4 -33%
Percent Under Contract 14.3% 19.0% 33%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Mid Los Angeles
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $456,431 $575,000 26%
Properties Sold 22 19 -14%
Sales Volume $8,069,863 $7,782,500 -4%
Properties Pending Sale 32 29 -9%
Properties For Sale 184 156 -15%
Average Days on Market 50 35 -30%
Months Supply of Inventory 4 4 0%
Percent Under Contract 17.4% 18.6% 7%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Mid Wilshire
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $527,500 $625,000 18%
Properties Sold 4 5 25%
Sales Volume $1,650,000 $2,944,000 78%
Properties Pending Sale 5 5 0%
Properties For Sale 39 22 -44%
Average Days on Market 70 72 3%
Months Supply of Inventory 5 3 -40%
Percent Under Contract 12.8% 22.7% 77%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Pacific Palisades
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $2,255,000 $2,707,500 20%
Properties Sold 27 26 -4%
Sales Volume $68,184,299 $109,737,434 61%
Properties Pending Sale 13 28 115%
Properties For Sale 112 118 5%
Average Days on Market 51 60 18%
Months Supply of Inventory 7 3 -57%
Percent Under Contract 11.6% 23.7% 104%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Palms - Mar Vista
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $905,000 $945,000 4%
Properties Sold 25 25 0%
Sales Volume $22,358,000 $24,848,525 11%
Properties Pending Sale 26 32 23%
Properties For Sale 99 93 -6%
Average Days on Market 16 34 113%
Months Supply of Inventory 3 2 -33%
Percent Under Contract 26.3% 34.4% 31%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Playa Vista
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,192,500 $1,555,000 30%
Properties Sold 2 1 -50%
Sales Volume $2,385,000 $1,555,000 -35%
Properties Pending Sale 0 5
Properties For Sale 5 7 40%
Average Days on Market n/a 36
Months Supply of Inventory n/a 0
Percent Under Contract 0.0% 71.4%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Santa Monica
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $2,187,500 $1,979,000 -10%
Properties Sold 18 25 39%
Sales Volume $38,968,710 $54,188,324 39%
Properties Pending Sale 25 25 0%
Properties For Sale 102 80 -22%
Average Days on Market 35 37 6%
Months Supply of Inventory 3 2 -33%
Percent Under Contract 24.5% 31.3% 28%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Silverlake - Echo Park
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $677,000 $825,000 22%
Properties Sold 33 25 -24%
Sales Volume $18,028,500 $21,089,500 17%
Properties Pending Sale 34 36 6%
Properties For Sale 114 105 -8%
Average Days on Market 33 36 9%
Months Supply of Inventory 2 2 0%
Percent Under Contract 29.8% 34.3% 15%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Sunset Strip - Hollywood Hills West
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,444,000 $1,890,000 31%
Properties Sold 31 30 -3%
Sales Volume $56,457,550 $92,668,505 64%
Properties Pending Sale 36 32 -11%
Properties For Sale 303 276 -9%
Average Days on Market 43 64 49%
Months Supply of Inventory 7 6 -14%
Percent Under Contract 11.9% 11.6% -2%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Venice
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,435,000 $1,332,500 -7%
Properties Sold 21 8 -62%
Sales Volume $36,465,999 $11,680,265 -68%
Properties Pending Sale 23 17 -26%
Properties For Sale 85 60 -29%
Average Days on Market 48 88 83%
Months Supply of Inventory 3 2 -33%
Percent Under Contract 27.1% 28.3% 5%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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West Hollywood
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,025,000 $1,265,000 23%
Properties Sold 5 11 120%
Sales Volume $6,154,200 $14,219,325 131%
Properties Pending Sale 8 8 0%
Properties For Sale 61 45 -26%
Average Days on Market 36 85 136%
Months Supply of Inventory 6 3 -50%
Percent Under Contract 13.1% 17.8% 36%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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West Los Angeles
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $756,000 $922,500 22%
Properties Sold 11 12 9%
Sales Volume $7,678,150 $12,126,000 58%
Properties Pending Sale 10 15 50%
Properties For Sale 36 44 22%
Average Days on Market 37 40 8%
Months Supply of Inventory 2 2 0%
Percent Under Contract 27.8% 34.1% 23%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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Westwood - Century City
Rodeo RealtyR o d e o R E . c om
Sept 2013 Sept 2014 %Change
Median Price $1,567,500 $1,905,000 22%
Properties Sold 14 18 29%
Sales Volume $21,082,000 $36,248,550 72%
Properties Pending Sale 13 17 31%
Properties For Sale 63 60 -5%
Average Days on Market 28 38 36%
Months Supply of Inventory 4 2 -50%
Percent Under Contract 20.6% 28.3% 37%
*Information obtained from local MLS using CARETS data, statistics are subject to change due to local reporting disciplines.
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RODEO REALTY MARKETING DEPARTMENT
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