kw market within a market report - december 2011
DESCRIPTION
kw Market Within A Market ReportTRANSCRIPT
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WHAT IS A MARKET WITHIN A MARKET?
Just as the weather is different from Los Feliz to Santa Monica is the Real Estate climate. While it may
be cloudy & overcast in Marina del Rey, at the same exact time, it may be warm & sunny in the Mid
Wilshire area. The Real Estate market works the same way. Year-to-year there may be a significant
sales increase in Venice while at the same time there is an alarming drop in sales price from the
Palms – Mar Vista area even thought they are literally blocks from one another.
With our vast years of experience, we at Keller Williams have come to notice that like the need for a
sweater by the beach and a T-shirt in the Valley, every market within a market has a very different
climate and therefore requires its own set of statistics for you to truly understand what is going on in
your neighborhood. Although you can easily access the broad national, state, and/ or country
trends published by the media, they may not have anything to do with what is occurring in your
own backyard. After all you wouldn’t watch a weather channel report for Seattle to decide if you
need as umbrella that day would you?
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WHY THIS BENEFITS YOU – OUR CLIENT
Our extensive experience & knowledge had lead us to notice that markets within
markets may be performing in a different way from one another and from national
averages.
With the current stringent lending situation, having knowledge of the specialized
market trends for the neighborhood contemplating is vital for true success in your
transaction.
Don’t be mislead by ideas that are not actual facts.
What is in fact occurring in the markets of those areas may be counterintuitive of
notions or ideas you may have perceived from national averages. Knowledge is
power and knowing all the facts will give you the power to make the most educated
choice.
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$999,000
$536
11
5
91
62
14.2
5.49%
$864,750
$539
10
11
65
46
3.5
16.92%
-13.4%
0.6%
- 9.1%
120%
- 28.6%
-25.5%
-75.4%
208.2%
BEL AIR – HOMBLY HILLS SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$999,000
$536
11
5
91
61.6
14.2
5.5
$869,500
$543
11
11
66
45.9
3.5
16.7
- 13%
1.3%
0%
120%
- 27.5%
-25.5
- 75%
203.3%
BEVERLY CENTER – MIRCLE MILE SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$608,800
$393
11
7
62
113.6
6.6
11.3
$610,000
$422
3
4
28
81.5
3.8
14.3%
.2%
7.4%
-72.7%
-42.9%
- 54.8
-28.2%
-42.9
26.5%
BEVERLY CENTER – MIRCLE MILE CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$3,040,000
$936
18
12
156
45
9.7
7.69%
$2,080,000
$865
14
13
112
57
6.0
11.61%
-25.0%
-7.6%
- 22.2%
8.3%
- 28.2%
27.4%
-38.1%
51.0%
BEVERLY HILLS SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$725,000
$409
6
6
108
118
14.3
5.50%
$765,000
$500
6
12
78
41.7
3.9
14.1%
5.5%
22.2%
0.0%
100%
- 27.8%
-64.6%
-72.7%
153.8%
BEVERLY HILLS CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$2,190,768
$676
12
6
152
92
20.8
3.95%
$2,048,750
$560
8
14
146
111
7.0
9.59%
-6.5%
-17.2%
- 33.3%
133.3%
-3.9%
20.2%
-66.3%
-142.8%
BEVERLY HILLS P.O. SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$732,250
$432
16
8
66
75
6
12.12%
$755,000
$440
8
9
62
41
4.0
14.52%
3.1%
1.9%
- 50.0%
12.5%
- 6.1%
-45.1%
-33.3%
19.8%
BEVERLYWOOD SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,570,000
$677
17
16
158
88.5
7.3
10.1%
$2,020,000
$538
9
6
124
92.7
14.5
4.9%
28.7%
- 20.5%
- 47.1%
- 62.5%
- 21.5
4.7%
98.3%
- 52.2%
BRENTWOOD SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$632,500
$436
14
6
142
118
19.7
4.23%
$515,000
$440
9
8
70
66
5.6
11.43%
-18.6%
0.9%
- 35.7%
33.3%
- 50.7%
-44.4%
-71.6%
170.2%
BRENTWOOD CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,425,500
$462
6
5
35
55
4.6
14.29%
$1,442,000
$504
5
2
24
104
8.0
8.33%
1.2%
9.1%
- 16.7%
-60.0%
- 31.4%
89.1%
73.9%
-41.7%
CHEVIOT HILLS-RANCH PARK SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$697,000
$430
14
5
54
47
8.4
9.62%
$672,500
$424
10
12
54
66
2.5
22.22%
-3.5%
-1.4%
- 28.6%
140.0%
0.0%
40.1%
-70.2%
140.0%
CULVER CITY SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$300,000
$348
11
8
83
95.5
8
9.6%
$275,000
$275
19
7
54
90.1
6
12.9%
-8.3%
- 21%
72.7%
- 12.5%
- 34.9%
- 5.6%
- 25%
34.5%
CULVER CITY CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$963,250
$442
16
9
127
74
10.9
7.09%
$1,087,000
$469
14
11
116
35
7.1
9.48%
12.8%
6.1%
- 12.5%
22.2%
-8.7%
-52.6%
-34.9%
33.7%
HANCOCK PARK-WILSHIRE SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$655,525
$386
1
2
20
44.5
5
10
$350,000
$360
5
5
21
54.2
2.6
23.8
- 46.5%
6.7%
400%
150%
5%
21.8%
- 48%
138.1%
HOLLYWOOD SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$425,000
$350
9
2
94
138
39.9
2.13%
$855,000
$457
3
3
56
169
13.7
5.36%
101.2%
30.6%
- 66.7%
50.0%
-40.4%
22.9%
-64.9%
151.6%
HOLLYWOOD CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$860,000
$372
8
10
86
54
6.5
11.63%
$700,000
$431
11
11
68
52
3.4
16.18%
-18.6%
15.9%
37.5%
10.0%
-20.9%
-4.3%
-47.7%
39.1%
HOLLYWOOD HILLS EAST SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$810,000
$395
12
10
90
52
6.6
11.11%
$859,000
$441
15
11
81
51
4.9
13.58%
6.0%
11.6%
25.0%
10.0%
-10.0%
-1.5%
-25.8%
22.2%
LOS FELIZ SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$447,500
$381
4
3
19
55.7
4.7
15.79%
$485,000
$388
5
1
12
41
9
8.33%
8.4%
1.8%
25.0%
-66.7%
- 36.8%
- 26.3
92.9%
- 47.2%
LOS FELIZ CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,605,000
$653
8
5
261
198
43.3
1.92%
$2,450,000
$836
16
13
217
166
12
5.99%
52.6%
28.0%
100%
160%
-16.9%
-16%
-72.3%
212.0%
MALIBU SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,605,000
$653
8
5
261
198
43.4
1.92%
$2,275,000
$842
18
13
218
166
12.1
5.96%
41.7%
28.9%
125%
160%
-16.5%
-16%
-72.1%
210.4%
MALIBU BEACH SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,260,000
$492
5
2
30
59
11.5
6.67%
$ -
$0
-
3
27
126
5.7
11.54%
-100%
-100%
-100%
50%
-10%
-115.4%
-50.4%
73.0%
MARINA DEL REY SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$595,000
$411
23
8
224
70
10.3
8.04%
$ 523,600
$354
15
19
158
89
5.8
12.03%
-12%
-13.9%
-34.8%
137.5%
-29.5%
26.5%
-43.7%
49.6%
MARINA DEL REY CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$310,000
$223
17
9
138
49
12.3
6.52%
$ 284,975
$204
12
10
82
40
5.5
12.20%
-8.1%
-8.5%
-29.4%
11.1%
-40.6%
-18.1%
-55.3%
87.1%
MID LOS ANGELES SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$440,000
$204
6
3
42
81
11.3
7.14%
$ 398,000
$220
4
2
17
45
5.0
11.76%
-9.5%
7.8%
-33.3%
-33.3%
-59.5%
-45.3%
-55.8%
64.7%
MID WILSHIRE SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,567,500
$707
20
14
176
129
9.5
7.95%
$1,284,250
$674
19
15
126
85
5.3
11.90%
-18.1%
- 4.7%
-5.0%
7.1%
-28.4%
-34.2%
-44.2%
49.7%
PACIFIC PALISADES SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$662,500
$480
27
11
100
67
6.8
11.00%
$760,000
$480
17
20
88
76
2.4
22.73%
14.7%
0.0%
-37.0%
81.8%
-12.0%
-13.2%
-64.7%
106.6%
PALMS – MAR VISTA SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$2,275,000
$820
12
18
125
116
5.1
14.40%
$1,709,000
$782
18
15
103
92
4.1
14.56%
-24.9%
- 4.6%
50.0%
-16.7%
-17.6%
-20.8%
-19.6%
1.1%
SANTA MONICA SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$803,250
$601
34
29
241
75
5.9
12.03%
$665,000
$522
25
17
149
81
6.0
11.41%
-17.2%
-13.1%
-26.5%
-41.4%
-38.2%
8.2%
1.7%
-5.2%
SANTA MONICA CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$675,000
$462
24
14
99
58
5.2
14.14%
$550,000
$384
21
13
76
40
4.3
17.11%
-18.5%
-16.9%
-12.5%
-7.1%
-23.2%
-31.3%
-17.3%
21%
SILVER LAKE – ECHO PARK SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$840,000
$439
7
7
82
103
9.6
8.54%
$915,000
$415
13
5
62
118
9.8
8.06%
8.9%
- 5.4%
85.7%
- 28.6%
- 24%
14.5%
2.1%
- 5.5%
STUDIO CITY SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$494,500
$339
4
2
39
139
12.5
5.13%
$670,500
$343
2
2
16
25
5.0
12.50%
35.6%
1.2%
- 50.0%
0.0%
- 27.5%
- 81.9%
- 60.0%
143.8%
STUDIO CITY CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,225,000
$521
25
18
345
88
15.2
5.22%
$1,470,000
$550
28
20
250
71
8.6
8.00%
20%
5.6%
12%
11.1%
-27.5%
-18.5%
-43.4%
53.3%
SUNSET STRIP – HOLLYWOOD HILLS WEST SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$386,000
$328
4
6
57
68
7
10.53%
$316,725
$607
4
3
32
66
6.0
9.38%
-17.9%
85.1%
0.0%
-50.0%
-43.9%
-3.4%
-14.3%
-10.9%
SUNSET STRIP – HOLLYWOOD HILLS WEST CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$870,000
$622
9
7
129
68
13.6
5.43%
$1,145,000
$661
15
7
85
23
7.7
8.24%
31.6%
6.3%
66.7%
0.0%
-34.1%
-65.9%
-43.4%
51.7%
VENICE SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$540,000
$421
31
17
263
97
11.9
6.46%
$410,000
$377
26
28
166
73
3.5
16.87%
-24.1%
-10.5%
-16.1%
64.7%
-36.9%
-24.2%
-70.6%
161.1%
WEST HOLLYWOOD CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$732,000
$473
3
4
39
57
7.8
10.26%
$570,000
$417
7
4
25
51
3.8
16.00%
-22.1%
-11.8%
133.3%
0%
-35.9%
-11.2%
-51.3%
55.9%
WEST LOS ANGELES SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$1,312,000
$542
18
6
69
105
8.7
8.70%
$1,680,300
$593
16
11
61
40
2.8
18.03%
28.0%
9.4%
-11.1%
83.3%
-11.6%
-62.0%
-67.8%
107.2%
WESTWOOD – CENTURY CITY SFR
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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$592,500
$739
48
27
409
75
11.7
6.60%
$585,500
$524
36
32
352
73
7.7
9.09%
-4.6%
-29.1%
-25%
18.5%
-13.9%
-2.5%
-34.2%
37.7%
WESTWOOD – CENTURY CITY CONDO
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
Median Price ……………………..…….
Average Price per Square Foot ….…
Properties Sold ……………………….
Properties Pending Sale ………………
Properties For Sale …………….……...
Days on Market (Pending Sale) ….…..
Month’s supply of Inventory……….…
Percent Under Contract ………….……
DEC. 2010 DEC. 2011 % CHANGE
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Glossary of Terms
Median Price: A value that separates the upper half of prices from the lower half of prices. It can be interpreted like an average, however the extreme prices (high and low) don’t hold undue.
Average Price per Square Foot: The price per each property divided by their respective square footage then averaged across all properties sold in the area for a given time period.
Properties Sold: The number of property transactions that closed and transferred ownership.
Properties Pending Sale: The number of properties that entered escrow in preparation for sale.
Properties For Sale: The number of properties on the market and seeking buyers.
Days on Market (Pending Sale): The number of days that properties currently in escrow were on the market.
Absorption Rate: The rate at which the inventory of home for sale are being sold.
Percent Under Contract: The ratio of properties to properties sale.
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Disclaimer
The Market Within A Market Report is brought to you by Regional Marketing Director, Michael Lewis.
Information obtained from Broker Metrics and DataQuick. Broker Metrics and DataQuick statistics are subject to change due to individual real estate company reporting disciplines. The information provided herein is from sources we believe to be reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.
For More Information, Contact:
Michael Lewis Regional Marketing Director Keller Williams Realty
11812 San Vicente Blvd. Suite 100 Los Angeles, CA 90049 [email protected]