february market report

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.

$1,477,500

$642

6.0

9.0

169.0

40.7

16.1

5.33%

$1,751,000

$733

4.0

14.0

128.0

99.1

6.9

10.94%

18.5%

14.2%

- 33.3%

55.6%

- 24.3%

143.6%

-57.0%

105.4%

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 ………….……









$1,007,500

$558

8.0

5.0

89.0

43.0

15.4

5.62%

$825,000

$461

9.0

18.0

73.0

42.9

2.4

24.66%

-18.1%

-17.4%

12.5%

260.0%

- 18.0%

- 0.3%

- 84.1%

338.9%

BEVERLY CENTER – MIRACLE MILE SFR

















$511,000

$344

5.0

6.0

48.0

56.3

5.8

12.50%

$477,000

$371

5.0

10.0

29.0

64.2

1.7

34.48%

-6.7%

7.8%

0.0%

66.7%

- 39.6%

14.0%

-70.9%

175.9%

BEVERLY CENTER – MIRACLE MILE CONDO

















$1,947,500

$767

8.0

16.0

147.0

94.5

7.4

10.88%

$2,862,000

$817

5.0

15.0

113.0

71.1

5.4

13.27%

47.0%

6.5%

- 37.5%

- 6.2%

- 23.1%

-24.8%

-27.4%

22.0%

BEVERLY HILLS SFR

















$717,000

$397

6.0

7.0

104.0

159.4

12.9

6.73%

$1,160,000

$503

7.0

9.0

72.0

121.2

5.3

12.50%

61.8%

26.7%

16.7%

28.6%

- 30.8%

-24.0%

-58.5%

85.7%

BEVERLY HILLS CONDO

















$1,356,500

$744

4.0

11.0

177.0

102.5

14.0

6.21%

$1,850,000

$946

9.0

21.0

148.0

133.9

4.8

14.19%

36.4%

27.2%

125.0%

90.9%

-16.4%

30.7%

-65.6%

128.3%

BEVERLY HILLS P.O. SFR

















$645,000

$442

5.0

9.0

75.0

76.6

6.6

12.00%

$722,500

$406

12.0

17.0

58.0

58.2

1.9

29.31%

12.0%

-8.1%

140.0%

88.9%

-22.7%

-24.0%

-71.3%

144.3%

BEVERLYWOOD SFR

















$1,260,000

$593

11.0

12.0

151.0

99.0

10.7

7.95%

$2,187,500

$610

12.0

24.0

129.0

59.7

3.9

18.60%

73.6%

2.9%

9.1%

100.0%

-14.6%

-39.7%

-63.3%

134.1%

BRENTWOOD SFR

















$542,600

$436

8.0

7.0

132.0

95.0

16.1

5.30%

$585,000

$399

5.0

11.0

80.0

72.3

5.4

13.75%

7.8%

-8.5%

-37.5%

57.1%

- 39.4%

-23.9%

-66.8%

159.3%

BRENTWOOD CONDO

















$525,000

$344.50

31.0

NA

166.0

NA

4.8

NA%

$450,000

$315.11

43.0

44.0

71.0

16.0

4.3

13.33%

-14.3%

-8.6%

24.4%

NA%

-58%

NA%

-10.4%

NA%

BURBANK SFR

















$366,500

$261.28

17

NA

78

NA

3.5

NA%

$337,500

$265.68

8

44

78

NA

5.57

NA%

- 8.0%

1.7%

53%

NA%

0%

NA%

59.1%

NA%

BURBANK CONDO

















$1,456,068

$274

19.0

3.0

131.0

136.6

6.8

7.69%

$900,000

$348

17

11

95

106

8.96

9%

-38%

22%

-11%

305%

- 72.5%

-22.5%

24%

14.6%

CALABASAS SFR

















$366,300

$

4

1.0

21

19.0

5.25

25.0%

0$

0$

0

4

8

73

1.09

20%

%

%

%

200%

-133%

191%

-225%

-20%

CALABASAS CONDO

















$1,085,000

$582

4.0

8.0

41.0

73.9

3.2

19.51%

$1,550,000

$582

3.0

9.0

28.0

45.6

1.2

32.14%

42.9%

0.0%

-25.0%

12.5%

-31.7%

-38.3%

-62.4%

64.7%

CHEVIOT HILLS-RANCH PARK SFR

















$521,000

$432

9.0

5.0

60.0

52.0

9.8

8.33%

$525,000

$366

7.0

10.0

44.0

51.5

2.8

22.73%

0.8%

-15.3%

-22.2%

100.0%

-26.7%

-1.0%

-71.4%

172.7%

CULVER CITY SFR

















$343,500

$322

12.0

4.0

83.0

109.8

17.0

4.82%

$250,000

$302

11.0

25.0

62.0

88.0

1.3

40.32%

-27.2%

-6.2%

-8.3%

525.0%

-25.3%

-19.8%

-92.5%

736.7%

CULVER CITY CONDO

















$147,500

$125

8.0

7.0

46.0

43.9

5.0

15.22%

$222,500

$175

6.0

6.0

33.0

57.2

3.5

18.18%

50.8%

40.0%

-25.0%

-14.3%

-28.3%

30.3%

-30.0%

19.5%

DOWNTOWN SFR

















$284,900

$353

19.0

30.0

244.0

71.5

6.5

12.30%

$316,000

$382

22.0

41.0

131.0

65.6

1.8

31.30%

10.9%

8.2%

15.8%

36.7%

-46.3%

-8.3%

-71.7%

154.6%

DOWNTOWN CONDO

















$739,769

$251

23

7.0

144

90.8

6.2

10.00%

$1,199,700

$348

22

7.0

124.0

83.7

5.6

12.73%

62.2%

38.6%

-4.3%

0.0%

-13.9%

-7.8%

-9.7%

27.3%

ENCINO SFR

















$254,650

$159

11.0

2.0

57.0

90.8

5.18

10.00%

$235,250

$203

12.0

2.0

57.0

86.2

4.75

40.00%

7.6%

8.4%

9.1%

0.0%

0.0%

-5.1%

-8.3%

300.0%

ENCINO CONDO

















$595,000

$341.46

40

NA

214

82.3

5.09

NA%

$557,600

$307.54

44

30

187

82.3

4.45

NA%

- 6.3%

10.1%

10%

NA%

-12.6%

0%

-12.6%

NA%

GLENDALE SFR

















$322,500

$254.47

16

NA

NA

82.3

6.27

NA%

$228,750

$212.10

20.0

21.0

138.0

82.3

5.11

NA%

-29.1%

- 16%

20.0%

NA%

NA%

0%

-18.5%

NA%

GLENDALE CONDO

















$1,101,528

$488

10.0

13.0

135.0

86.8

8.3

9.63%

$1,006,500

$451

20.0

27.0

125.0

63.4

3.1

21.60%

-8.6%

-7.6%

100.0%

107.7%

-7.4%

-27.0%

-62.6%

124.3%

HANCOCK PARK-WILSHIRE SFR

















$100,000

$175

1.0

4.0

23.0

13.2

4.2

17.39%

$499,000

$310

3.0

7.0

21.0

34.7

1.4

33.33%

399.0%

77.1%

200.0%

75.0%

-8.7%

162.0%

-66.4%

91.7%

HOLLYWOOD SFR

















$360,000

$350

4.0

9.0

87.0

110.6

7.7

10.34%

$

$

0

8.0

75.0

60.2

7.0

10.67%

%

%

%

-11.1%

-13.8%

-45.5%

-8.7%

3.1%

HOLLYWOOD CONDO

















$1,090,000

$494

9.0

10.0

88.0

36.8

6.7

11.36%

$707,500

$377

10.0

9.0

64.0

38.3

5.1

14.06%

-35.1%

-23.7%

11.1%

-10.0%

-27.3%

4.2%

-23.7%

23.8%

HOLLYWOOD HILLS EAST SFR

















$1,069,500

$512

10.0

13.0

91.0

61.3

5.4

14.29%

$1,075,000

$494

11.0

27.0

83.0

53.1

1.6

32.53%

0.5%

-3.5%

10.0%

107.7%

-8.8%

-13.4%

-69.7%

127.7%

LOS FELIZ SFR

















$204,500

$183

2.0

2.0

13.0

79.5

3.5

15.38%

$409,500

$357

2.0

7.0

18.0

24.9

1.4

38.89%

100.2%

95.1%

0.0%

250.0%

38.5%

-68.7%

-59.2%

152.8%

LOS FELIZ CONDO

















$3,980,000

$889

5.0

10.0

261.0

212.7

23.6

3.83%

$2,100,000

$652

11.0

14.0

228.0

63.2

13.5

6.14%

-47.2%

-26.7%

120.0%

40.0%

-12.6%

-70.3%

-42.8%

60.3%

MALIBU SFR

















$

$

2.0

102.0

584.5

47.5

1.96%

$3,795,000

$1,013

2.0

7.0

93.0

320.3

10.7

7.53%

%

%

-%

250.0%

-8.8%

-45.2%

-77.4%

283.9%

MALIBU BEACH SFR

















$2,342,835

$439

1.0

4.0

38.0

52.0

8.0

10.53%

$780,000

$403

3.0

3.0

31.0

57.3

8.7

9.68%

-66.7%

-8.2%

200.0%

-25.0%

-18.4%

10.3%

8.3%

-8.1%

MARINA DEL REY SFR

















$632,000

$489

14.0

18.0

203.0

78.9

9.4

8.87%

$ 545,000

$340

13.0

18.0

153.0

68.8

6.6

11.76%

-13.8%

-30.5%

-7.1%

0.0%

-24.6%

-12.9%

-30.2%

32.7%

MARINA DEL REY CONDO

















$350,000

$231

9.0

12.0

133.0

82.8

8.9

9.02%

$205,250

$216

7.0

18.0

96.0

61.5

3.6

18.75%

-41.4%

-6.5%

-22.2%

50.0%

-27.8%

-25.7%

-59.5%

107.8%

MID LOS ANGELES SFR

















$435,000

$201

4.0

5.0

34.0

117.0

4.8

14.71%

$460,000

$166

1.0

4.0

22.0

14.0

4.0

18.18%

5.7%

-17.4%

-75.0%

-20.0%

-35.3%

-88.0%

-16.7%

23.6%

MID WILSHIRE SFR

















$551,350

$174

34

1.0

237

73.7

6.97

2.94%

$461,455

$222

38

4.0

235

86.1

2.75

19.05%

-16.3%

27.6%

-11.8%

300.0%

-.8%

16.8%

-60.6%

547.6%

NORTHRIDGE SFR

















$302,850

$

15

2.0

43

73.7

2.86

16.67%

$ 286,450

$154

19

3.0

43

86.1

2.2

60.0%

-5.4%

%

26.6%

50.0%

-58.3%

16.8%

-23.1%

260.0%

NORTHRIDGE CONDO

















$1,715,000

$652

9.0

21.0

179.0

94.2

6.8

11.73%

$1,950,000

$670

11.0

19.0

134.0

118.7

5.1

14.18%

13.7%

2.8%

22.2%

-9.5%

-25.1%

26.0%

-25.0%

20.9%

PACIFIC PALISADES SFR

















$815,250

$476

12.0

22.0

106.0

66.9

3.5

20.75%

$717,000

$455

16.0

21.0

81.0

88.5

2.3

25.93%

-12.1%

-4.4%

33.3%

-4.5%

-23.6%

32.4%

-34.7%

24.9%

PALMS – MAR VISTA SFR

















$1,346,250

$753

14.0

20.0

122.0

51.6

4.7

16.39%

$1,450,000

$870

15.0

26.0

107.0

52.3

2.5

24.30%

7.7%

15.5%

7.1%

30.0%

-12.3%

1.3%

-47.6%

48.2%

SANTA MONICA SFR

















$721,250

$527

18.0

21.0

235.0

91.5

9.1

8.94%

$765,000

$619

22.0

39.0

177.0

90.5

3.0

22.03%

6.1%

17.5%

22.2%

85.7%

-24.7%

-1.1%

-67.5%

146.6%

SANTA MONICA CONDO

















$707,880

$408

41

8.0

167

85.6

4.07

8.79%

$682,172

$418

29

18.0

167

98.2

5.75

24.66%

-3.6%

2.5%

-29.2%

125.0%

-19.8%

14.7%

41.3%

180.5%

SHERMAN OAKS SFR

















$375,500

$272

12

5.0

88

85.6

7.33

11.36%

$309,000

$214

18

11.0

88

98.2

4.88

42.31%

-17.8%

-21.3%

50.0%

120.0%

-40.9%

14.7%

-33.4%

272.3%

SHERMAN OAKS CONDO

















$557,500

$343

12.0

13.0

89.0

65.2

5.4

14.61%

$532,000

$408

22.0

26.0

89.0

53.4

2.0

29.21%

-4.6%

19.0%

83.3%

100.0%

0.0%

-18.1%

-62.9%

100.0%

SILVER LAKE – ECHO PARK SFR

















$773,666

$389

8.0

4.0

80.0

108.9

4.8

4.71%

$901,270

$397

16.0

53

68

121.8

7.2

23.53%

14.2%

2.1%

100.0%

379.0%

-15%

11.9%

50.0%

400.0%

STUDIO CITY SFR

















$440,000

$309

10.0

3.0

41.0

92.3

4.1

10.0%

$383,800

$300

5.0

1.0

30.0

17.0

6

7.69%

-12.8%

-2.9%

-50.0%

-66.7%

-27%

-81.6%

32%

-23.1%

STUDIO CITY CONDO

















$1,900,000

$543

10.0

24.0

345.0

90.6

11.8

6.96%

$1,276,000

$471

22.0

35.0

268.0

82.1

5.4

13.06%

-32.8%

-13.3%

120.0%

45.8%

-22.3%

-9.4%

-54.0%

87.7%

SUNSET STRIP – HOLLYWOOD HILLS WEST SFR

















$340,000

$425

4.0

1.0

59.0

1.0

46.0

1.69%

$369,500

$367

4.0

3.0

32.0

72.7

7.0

9.38%

8.7%

-13.6%

0.0%

200.0%

-45.8%

7,166.7%

-84.8%

453.1%

SUNSET STRIP – HOLLYWOOD HILLS WEST CONDO

















$820,000

$624

3.0

4.0

67.0

149.2

14.8

5.97%

$440,000

$352

3.0

3.0

57.0

319.3

15.7

5.26%

-46.3%

-43.6%

0.0%

-25.0%

-14.9%

114.0%

6.2%

-11.8%

TOPANGA SFR

















$0.0

$0.0

0.0

0.0

0.0

0.0

0.0

0.0%

$0.0

$0.0

0.0

1.0

2.0

14.0

1.0

50.0%

%

%

%

%

%

%

%

%

TOPANGA CONDO

















$782,500

$560

14.0

12.0

113.0

80.4

7.9

10.62%

$1,300,000

$549

6.0

13.0

89.0

55.1

5.2

14.61%

66.1%

-2.0%

-57.1%

8.3%

-21.2%

-31.5%

-33.9%

37.5%

VENICE SFR

















$822,500

$635

9.0

7.0

64.0

46.7

6.9

10.94%

$1,042,500

$690

4.0

11.0

51.0

45.0

2.5

21.57%

26.7%

8.7%

-55.6%

57%

-20.3%

-3.7%

-64.2%

97.2%

WEST HOLLYWOOD SFR

















$487,500

$446

14.0

35.0

275.0

69.5

6.1

12.73%

$415,000

$377

22.0

40.0

164.0

71.3

2.9

24.39%

-14.9%

-15.5%

57.1%

14.3%

-40.4%

2.6%

-53.6%

91.6%

WEST HOLLYWOOD CONDO

















$455,000

$337

3.0

3.0

38.0

138.7

11.0

7.89%

$499,000

$603

1.0

4.0

31.0

39.2

5.5

12.90%

9.7%

78.9%

-66.7%

33.3%

-18.4%

-71.7%

-50.0%

63.4%

WEST LOS ANGELES SFR

















$1,093,000

$508

10.0

8.0

69.0

48.8

6.5

11.59%

$1,155,000

$662

8.0

18.0

80.0

41.2

2.8

22.50%

5.7%

30.3%

-20.0%

125.0%

15.9%

-15.6%

-56.4%

94.1%

WESTWOOD – CENTURY CITY SFR

















$575,000

$412

25.0

32.0

388.0

76.0

10.4

8.25%

$580,000

$450

36.0

47.0

337.0

73.4

5.2

13.95%

0.9%

9.2%

44.0%

46.9%

-13.1%

-3.3%

-49.9%

69.1%

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

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:

The Lesser’s Realtor, Luxury Home Specialist

Keller Williams Realty

15531 Ventura Blvd. Suite 100

Encino, CA 91436 [email protected]

818.822.7777

mailto:[email protected]

february market report

Documents

sale properties

market pending sale

average price

sales price

square foot

real estate market

specialized market trends

months supply of inventory