market within a market - may 2012

WHAT IS A MARKET WITHIN A MARKET?

Just as the weather is different from Los Feliz to Santa Monica so 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 though 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 an umbrella that day would you?

WHY THIS BENEFITS YOU – OUR CLIENT

Our extensive experience & knowledge has led 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 you are 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.

$1,622,500

$808

20

18

179

96

8.1

10.6%

$2,420,000

$834

16

16

134

41

6.4

11.94%

49.2%

3.2%

-20.0%

-11.1%

-25.1%

-57.7%

-20.6%

18.7%

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 ………….……









MAY 2011 MAY 2012 % CHANGE

$841,750

$494

8

17

114

62

5.1

14.91%

$934,000

$492

20

21

76

27

2.2

27.63%

11.0%

-0.4%

150.0%

23.5%

-33.3%

-56.2%

-55.8%

85.3%

BEVERLY CENTER – MIRACLE MILE SFR


















$400,000

$353

5

5

42

49

6.6

11.90%

$480,000

$359

7

8

28

46

2.1

28.57%

20.0%

1.7%

40.0%

60.0%

-33.3%

-6.4%

-67.8%

140.0%

BEVERLY CENTER – MIRACLE MILE CONDO


















$2,395,000

$790

10

13

159

76

10.5

8.18%

$6,975,000

$1,022

10

16

144

151

6.4

11.11%

191.2%

29.4%

0.0%

23.1%

-9.4%

97.4%

-39.1%

35.9%

BEVERLY HILLS SFR


















$1,030,000

$1,162

6

8

101

79

10.5

7.92%

$1,030,000

$791

14

16

76

99

3.1

21.05%

0.0%

-31.9%

133.3%

100.0%

-24.8%

26.2%

-70.8%

165.8%

BEVERLY HILLS CONDO


















$1,607,500

$521

12

13

182

107

11.9

7.14%

$2,475,000

$599

19

15

130

96

6.6

11.54%

54.0%

15.0%

58.3%

15.4%

-28.6%

-10.6%

-44.6%

61.5%

BEVERLY HILLS P.O. SFR


















$805,000

$446

18

12

80

30

5.3

15.0%

$779,000

$442

16

30

75

46

1.3

40.0%

-3.2%

-0.9%

-11.1%

150.0%

-6.2%

53.5%

-76.2%

166.7%

BEVERLYWOOD SFR


















$2,262,500

$694

12

17

164

56

8.1

10.37%

$1,838,000

$809

15

25

157

43

4.4

15.92%

-18.8%

16.6%

25.0%

47.1%

-4.3%

-22.8%

-45.9%

53.6%

BRENTWOOD SFR


















$734,762

$454

20

20

135

103

4.9

14.81%

$608,250

$399

16

22

85

35

2.5

25.88%

-17.2%

-12.1%

-20.0%

10.0%

-37.0%

-66.1%

-49.0%

74.7%

BRENTWOOD CONDO


















$2,070,000

$394

2

3

35

186

9.7

8.57%

$1,100,000

$313

30

66

97

55

7.0

10.53%

-53%

-21%

1500%

2200%

136%

170.5%

-27.6%

22.8%

CALABASAS SFR


















$1,585,000

$515

7

2

40

20

17.5

5.0%

$1,296,000

$503

4

6

27

46

2.7

22.22%

-18.2%

-2.3%

-42.9%

200.0%

-32.5%

122.0%

-84.8%

344.4%

CHEVIOT HILLS-RANCH PARK SFR


















$655,655

$401

13

9

64

88

5.7

14.06%

$672,000

$449

12

18

53

40

1.8

33.96%

2.5%

12.0%

7.7%

100.0%

-17.2%

-54.4%

-68.6%

141.5%

CULVER CITY SFR


















$299,000

$298

17

14

92

47

5.1

15.22%

$299,500

$282

20

14

35

46

1.2

40.00%

0.2%

-5.4%

17.6%

0.0%

-62.0%

-1.1%

-76.1%

162.9%

CULVER CITY CONDO


















$129,950

$138

4

10

45

27

3.3

22.22%

$180,000

$130

4

11

32

41

1.6

34.38%

38.5%

-5.8%

0.0%

10.0%

-28.9%

51.2%

-50.4%

54.7%

DOWNTOWN SFR


















$330,000

$392

29

36

210

68

4.4

17.14%

$329,500

$376

26

41

131

46

1.8

31.30%

-0.2%

-4.1%

-10.3%

13.9%

-37.6%

-32.1%

-58.9%

82.6%

DOWNTOWN CONDO


















$1,009,500

$304

6

7

89

40

10.1

7.87%

$903,000

$342

47

99

84

60

6.0

12.73%

-10.6%

12%

783%

1414%

-5.7%

33.4%

-40.8%

61.8%

ENCINO SFR


















$

$

2

21

65

8.0

9.52%

$195,000

$188

16

56

30

76

0.4

71.43%

%

%

%

2800%

30%

14.5%

-95.0%

650.0%

ENCINO CONDO







Month’s Supply of Inventory……….…











$1,553,250

$594

18

14

157

77

9.1

8.92%

$993,750

$511

18

25

106

55

2.7

23.58%

-36.0%

-14.0%

0.0%

78.6%

-32.5%

-27.7%

-70.2%

164.5%

HANCOCK PARK-WILSHIRE SFR


















$520,000

$404

5

6

34

95

4.3

17.65%

$361,000

$266

8

4

21

64

3.0

19.05%

-30.6%

-34.2%

60.0%

-33.3%

-38.2%

-32.2%

-30.8%

7.9%

HOLLYWOOD SFR


















$484,000

$369

6

7

70

128

7.4

10.0%

$654,000

$390

6

10

62

71

4.4

16.13%

35.0%

5.7%

0.0%

42.9%

-11.4%

-44.3%

-40.8%

61.3%

HOLLYWOOD CONDO


















$742,500

$496

8

17

105

64

4.7

16.19%

$870,000

$437

16

16

73

26

2.7

21.92%

7.2%

-11.9%

100.0%

-5.9%

-30.5%

-59.1%

-42.9%

35.4%

HOLLYWOOD HILLS EAST SFR


















$960,000

$445

20

18

116

38

5.2

15.52%

$929,000

$488

21

16

80

60

3.5

20.00%

-3.2%

9.7%

5.0%

-11.1%

-31.0%

56.3%

-33.0%

28.9%

LOS FELIZ SFR


















$243,250

$260

4

2

18

44

7.5

11.11%

$

$

2

13

30

5.0

15.38%

%

%

%

0.0%

-27.8%

-33.0%

-33.3%

38.5%

LOS FELIZ CONDO


















$2,575,000

$715

9

17

305

223

16.1

5.57%

$1,455,000

$500

16

13

221

105

14.3

5.88%

-43.5%

-30.1%

77.8%

-23.5%

-27.5%

-53.0%

-10.9%

5.5%

MALIBU SFR


















$6,562,500

$3,640

3

5

116

477

20.8

4.31%

$4,367,500

$1,257

5

8

95

600

9.8

8.42%

-33.4%

-65.5%

66.7%

60.0%

-18.1%

25.8%

-53.1%

95.4%

MALIBU BEACH SFR


















$990,000

$436

5

3

44

75

12.3

6.82%

$1,355,000

$436

6

4

33

105

5.8

12.12%

36.9%

0.00%

20.0%

33.3%

-25.0%

40.3%

-53.4%

77.8%

MARINA DEL REY SFR


















$590,000

$363

19

19

238

71

10.5

7.98%

$534,000

$361

22

37

177

64

3.2

20.90%

-9.4%

-0.6%

15.8%

94.7%

-25.6%

-9.9%

-69.3%

161.8%

MARINA DEL REY CONDO


















$299,000

$198

19

28

142

61

3.7

19.72%

$278,300

$207

18

19

68

34

2.3

27.94%

-6.9%

4.5%

-5.3%

-32.1%

-52.1%

-44.8%

-37.0%

41.7%

MID LOS ANGELES SFR


















$471,375

$292

2

31

%

$357,500

$273

4

7

22

30

1.7

31.82%

-24.2%

-6.5%

100.0%

%

-29.0%

%

%

%

MID WILSHIRE SFR


















$470,000

$287

1

5

47

46

6.6

10.64%

$593,000

$194

6

6

22

86

2.2

27.27%

26.2%

-32.4%

500.0%

20.0%

-53.2%

85.4%

-67.2%

156.4%

NORTHRIDGE SFR


















$319,000

$205

1

5

%

$

$

5

6

44

0.2

83.33%

%

%

%

%

20.0%

%

%

%

NORTHRIDGE CONDO


















$1,627,500

$614

24

26

215

52

6.7

12.09%

$1,730,000

$651

23

22

169

43

5.8

13.02%

6.3%

6.0%

-4.2%

-15.4%

-21.4%

-17.9%

-14.2%

7.6%

PACIFIC PALISADES SFR


















$719,000

$495

23

16

106

26

5.5

15.09%

$673,000

$522

18

35

90

19

1.3

38.89%

-6.4%

5.5%

-21.7%

118.8%

-15.1%

-27.8%

-76.1%

157.6%

PALMS – MAR VISTA SFR


















$1,555,000

$688

13

22

143

37

5.1

15.38%

$2,360,057

$787

18

28

112

58

2.7

25.0%

51.8%

14.4%

38.5%

27.3%

-21.7%

55.6%

-47.9%

62.5%

SANTA MONICA SFR


















$710,000

$579

25

28

227

83

6.4

12.33%

$853,000

$706

32

45

146

76

1.9

30.82%

20.1%

21.9%

28.0%

60.7%

-35.7%

-8.1%

-70.6%

149.9%

SANTA MONICA CONDO


















$729,000

$328

13

18

116

35

4.7

15.52%

$680,000

$338

44

132

119

71

3.0

23.26%

-93.2%

3%

338%

733%

3%

102%

-36.5%

49.9%

SHERMAN OAKS SFR


















$390,000

$283

4

2

44

63

17.0

4.55%

$261,000

$226

26

82

43

87

3.0

23.81%

-34.1%

-21%

650%

4,100%

-3%

276%

-82.4%

423.8%

SHERMAN OAKS CONDO


















$675,000

$412

12

22

117

40

3.9

18.80%

$480,250

$357

18

25

77

35

1.7

32.47%

-28.9%

-13.3%

50.0%

13.6%

-34.2%

-12.6%

-56.5%

72.7%

SILVER LAKE – ECHO PARK SFR


















$1,077,400

$392

10

14

82

38

4.1

17.07%

$908,000

$400

17

60

64

61

2.2

28.33%

-16%

2%

70%

428%

-22%

62%

-46.5%

66.0%

STUDIO CITY SFR


















$400,000

$248

3

29

%

$383,000

$298

13

30

21

88

2.0

28.57%

-5%

17%

330%

%

27.6%

%

%

%

STUDIO CITY CONDO


















$1,515,000

$601

29

30

323

75

8.9

9.29%

$1,279,000

$627

37

43

292

63

4.9

14.73%

-15.6%

4.3%

27.6%

43.3%

-9.6%

-14.9%

-44.4%

58.6%

SUNSET STRIP – HOLLYWOOD HILLS WEST SFR


















$1,550,000

$533

1

5

51

81

8.6

9.80%

$605,000

$630

7

10

32

106

1.7

31.25%

-61.0%

18.2%

600.0%

100.0%

-37.3%

31.1%

-80.2%

218.8%

SUNSET STRIP – HOLLYWOOD HILLS WEST CONDO


















$980,000

$424

9

6

84

98

12.2

7.14%

$841,250

$486

6

6

64

53

8.2

9.38%

-14.2%

14.6%

-33.3%

0.00%

-23.8%

-46.2%

-32.9%

31.3%

TOPANGA SFR


















$1,040,000

$702

14

13

134

54

8.5

9.7%

$850,000

$637

18

22

97

50

2.6

22.68%

-18.3%

-9.3%

28.6%

69.2%

-27.6%

-8.2%

-68.8%

133.8%

VENICE SFR


















$856,000

$562

3

4

29

43

6.0

13.79%

$995,000

$566

4

4

21

68

3.8

19.05%

16.2%

0.7%

33.3%

0.0%

-27.6%

60.2%

-37.5%

38.1%

VENICE CONDO


















$1,327,500

$688

9

7

67

44

8.0

10.45%

$905,000

$582

12

10

43

68

3.1

23.26%

-31.8%

-15.4%

33.3%

42.9%

-35.8%

52.9%

-61.3%

122.6%

WEST HOLLYWOOD SFR


















$592,000

$411

26

24

249

84

8.7

9.64%

$395,000

$432

32

43

135

82

1.7

31.85%

-33.3%

5.1%

23.1%

79.2%

-45.8%

-2.6%

-80.5%

230.5%

WEST HOLLYWOOD CONDO


















$530,000

$456

7

7

49

45

5.4

14.29%

$580,000

$546

5

8

34

72

2.6

23.53%

9.4%

19.7%

-28.6%

14.3%

-30.6%

60.0%

-51.6%

64.7%

WEST LOS ANGELES SFR


















$664,000

$446

18

18

89

28

3.7

20.22%

$611,325

$390

22

24

71

26

1.7

33.80%

-7.9%

-12.6%

22.2%

33.3%

-20.2%

-7.1%

-54.1%

67.1%

WESTCHESTER SFR


















$

$

6

29

42

3.7

20.69%

$110,000

$159

1

3

16

45

4.3

18.75%

%

%

%

-50.0%

-44.8%

6.3%

18.2%

-9.4%

WESTCHESTER CONDO


















$1,199,500

$602

10

13

95

25

5.8

13.68%

$1,165,250

$602

22

18

78

32

2.7

23.08%

-2.9%

0.0%

120.0%

38.5%

-17.9%

28.9%

-54.4%

68.6%

WESTWOOD – CENTURY CITY SFR


















$541,250

$458

22

27

413

91

13.2

6.54%

$520,250

$434

48

33

279

92

6.5

11.83%

-3.9%

-5.2%

118.2%

22.2%

-32.4%

1.3%

-50.4%

80.9%

WESTWOOD – CENTURY CITY CONDO


















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.

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]

market within a market - may 2012

Documents

sale properties

market pending sale

average price

sales price

square foot

real estate market

specialized market trends

months supply of inventory