Real Estate Market Report of Homes and Condos in Los Angeles

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Los Angeles Market Within a Market Report - Q4 2012. Like us on Facebook for free a Home Energy Guide! https://www.facebook.com/MoradifarGroup

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Real Estate Market Report of Homes and Condos in Los Angeles

  1. 1. 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 itmay be cloudy & overcast in Marina del Rey, at the same exact time, it may be warm & sunny inthe Mid Wilshire area. The Real Estate market works the same way. Year-to-year there may be asignificant sales increase in Venice while at the same time there is an alarming drop in sales pricefrom the Palms – Mar Vista area even though they are literally blocks from one another.With our vast years of experience, we have come to notice that like the need for a sweater by thebeach and a T-shirt in the Valley, every market within a market has a very different climate andtherefore requires its own set of statistics for you to truly understand what is going on in yourneighborhood. Although you can access the broad national or country trends published by themedia, they may not have anything to do with what is occurring in your own backyard. Afterall, you wouldn’t watch a weather channel report for Los Angeles to decide if you need anumbrella that day would you?
  2. 2. WHY THIS BENEFITS YOU – OUR CLIENTOur extensive experience & knowledge has led us to notice that markets withinmarkets may be performing in a different way from one another and from nationalaverages.With the current stringent lending situation, having knowledge of the specializedmarket trends for the neighborhood you are contemplating is vital for true success inyour 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 ofnotions or ideas you may have perceived from national averages. Knowledge ispower and knowing all the facts will give you the power to make the most educatedchoice.
  3. 3. BEL AIR – HOMBLY HILLS SFRQ4 2011 Q4 2012 % CHANGEMedian Price ……………………..……. $1,591,625 Median Price ……………………..……. $1,918,000 20.5%Average Price per Square Foot ….… $701 Average Price per Square Foot ….… $905 29.1%Properties Sold ………………………. 38 Properties Sold ………………………. 39 2.6%Properties Pending Sale ……………… 35 Properties Pending Sale ……………… 47 34.3%Properties For Sale …………….……... 213 Properties For Sale …………….……... 169 -20.7%Days on Market (Pending Sale) ….….. 83 Days on Market (Pending Sale) ….….. 122 46.4%Percent Under Contract ………….…… 16.43% Percent Under Contract ………….…… 27.81% 69.2%
  4. 4. BEVERLY HILLS SFRQ4 2011 Q4 2012 % CHANGEMedian Price ……………………..……. $2,195,000 Median Price ……………………..……. $3,997,500 82.1%Average Price per Square Foot ….… $846 Average Price per Square Foot ….… $949 12.2%Properties Sold ………………………. 43 Properties Sold ………………………. 61 41.9%Properties Pending Sale ……………… 33 Properties Pending Sale ……………… 51 54.5%Properties For Sale …………….……... 178 Properties For Sale …………….……... 152 14.6%Days on Market (Pending Sale) ….….. 106 Days on Market (Pending Sale) ….….. 90 -14.4%Percent Under Contract ………….…… 18.54% Percent Under Contract ………….…… 33.55% 81.0%
  5. 5. BEVERLY HILLS CONDOQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $992,500 Median Price ……………………..……. $818,000 17.6% Average Price per Square Foot ….… $607 Average Price per Square Foot ….… $455 -25.0% Properties Sold ………………………. 18 Properties Sold ………………………. 22 22.2% Properties Pending Sale ……………… 25 Properties Pending Sale ……………… 24 -4.0% Properties For Sale …………….……... 118 Properties For Sale …………….……... 78 -33.9% Days on Market (Pending Sale) ….….. 84 Days on Market (Pending Sale) ….….. 84 0.0% Percent Under Contract ………….…… 21.19% Percent Under Contract ………….…… 30.77% 45.2%
  6. 6. BRENTWOOD SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $1,670,625 Median Price ……………………..……. $1,667,500 -0.2% Average Price per Square Foot ….… $616 Average Price per Square Foot ….… $807 31.0% Properties Sold ………………………. 42 Properties Sold ………………………. 75 78.6% Properties Pending Sale ……………… 33 Properties Pending Sale ……………… 62 87.9% Properties For Sale …………….……... 200 Properties For Sale …………….……... 156 -22.0% Days on Market (Pending Sale) ….….. 85 Days on Market (Pending Sale) ….….. 78 -7.8% Percent Under Contract ………….…… 16.50% Percent Under Contract ………….…… 39.74% 140.9%
  7. 7. BRENTWOOD CONDOQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $515,000 Median Price ……………………..……. $685,000 33.0% Average Price per Square Foot ….… $421 Average Price per Square Foot ….… $453 7.6% Properties Sold ………………………. 28 Properties Sold ………………………. 35 25.0% Properties Pending Sale ……………… 22 Properties Pending Sale ……………… 39 77.3% Properties For Sale …………….……... 113 Properties For Sale …………….……... 103 -8.8% Days on Market (Pending Sale) ….….. 76 Days on Market (Pending Sale) ….….. 61 -19.4% Percent Under Contract ………….…… 19.47% Percent Under Contract ………….…… 37.86% 94.5%
  8. 8. CULVER CITY SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $622,000 Median Price ……………………..……. $665,000 6.9% Average Price per Square Foot ….… $434 Average Price per Square Foot ….… $430 -0.9% Properties Sold ………………………. 32 Properties Sold ………………………. 52 62.5% Properties Pending Sale ……………… 28 Properties Pending Sale ……………… 45 60.7% Properties For Sale …………….……... 90 Properties For Sale …………….……... 75 -16.7% Days on Market (Pending Sale) ….….. 57 Days on Market (Pending Sale) ….….. 65 15.2% Percent Under Contract ………….…… 31.11% Percent Under Contract ………….…… 60.00% 92.9%
  9. 9. CULVER CITY CONDOQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $269,500 Median Price ……………………..……. $311,000 15.4% Average Price per Square Foot ….… $268 Average Price per Square Foot ….… $289 7.8% Properties Sold ………………………. 34 Properties Sold ………………………. 32 -5.9% Properties Pending Sale ……………… 32 Properties Pending Sale ……………… 36 12.5% Properties For Sale …………….……... 106 Properties For Sale …………….……... 53 -50.0% Days on Market (Pending Sale) ….….. 69 Days on Market (Pending Sale) ….….. 53 -22.5% Percent Under Contract ………….…… 30.19% Percent Under Contract ………….…… 67.92% 125.0%
  10. 10. PACIFIC PALISADES SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $1,688,590 Median Price ……………………..……. $2,155,000 27.6% Average Price per Square Foot ….… $701 Average Price per Square Foot ….… $679 -3.1% Properties Sold ………………………. 62 Properties Sold ………………………. 71 14.5% Properties Pending Sale ……………… 58 Properties Pending Sale ……………… 59 1.7% Properties For Sale …………….……... 223 Properties For Sale …………….……... 167 -25.1% Days on Market (Pending Sale) ….….. 71 Days on Market (Pending Sale) ….….. 99 38.9% Percent Under Contract ………….…… 26.01% Percent Under Contract ………….…… 35.33% 35.8%
  11. 11. PALMS – MAR VISTA SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $777,000 Median Price ……………………..……. $799,000 2.8% Average Price per Square Foot ….… $450 Average Price per Square Foot ….… $539 19.8% Properties Sold ………………………. 54 Properties Sold ………………………. 85 57.4% Properties Pending Sale ……………… 53 Properties Pending Sale ……………… 81 52.8% Properties For Sale …………….……... 162 Properties For Sale …………….……... 112 -30.9% Days on Market (Pending Sale) ….….. 62 Days on Market (Pending Sale) ….….. 37 -39.7% Percent Under Contract ………….…… 32.72% Percent Under Contract ………….…… 72.32% 121.1%
  12. 12. SANTA MONICA SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $1,709,000 Median Price ……………………..……. $1,625,000 -4.9% Average Price per Square Foot ….… $783 Average Price per Square Foot ….… $843 7.7% Properties Sold ………………………. 42 Properties Sold ………………………. 71 69.0% Properties Pending Sale ……………… 47 Properties Pending Sale ……………… 71 51.5% Properties For Sale …………….……... 174 Properties For Sale …………….……... 142 -18.4% Days on Market (Pending Sale) ….….. 72 Days on Market (Pending Sale) ….….. 46 -36.3% Percent Under Contract ………….…… 27.01% Percent Under Contract ………….…… 50.00% 85.1%
  13. 13. SANTA MONICA CONDOQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $680,000 Median Price ……………………..……. $690,000 1.5% Average Price per Square Foot ….… $530 Average Price per Square Foot ….… $622 17.4% Properties Sold ………………………. 76 Properties Sold ………………………. 109 49.3% Properties Pending Sale ……………… 66 Properties Pending Sale ……………… 91 37.9% Properties For Sale …………….……... 255 Properties For Sale …………….……... 164 -35.7% Days on Market (Pending Sale) ….….. 55 Days on Market (Pending Sale) ….….. 75 35.1% Percent Under Contract ………….…… 25.88% Percent Under Contract ………….…… 55.49% 114.4%
  14. 14. WEST LOS ANGELES SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $575,000 Median Price ……………………..……. $707,500 23.0% Average Price per Square Foot ….… $423 Average Price per Square Foot ….… $541 27.9% Properties Sold ………………………. 10 Properties Sold ………………………. 16 60.0% Properties Pending Sale ……………… 10 Properties Pending Sale ……………… 18 80.0% Properties For Sale …………….……... 45 Properties For Sale …………….……... 34 -24.4% Days on Market (Pending Sale) ….….. 40 Days on Market (Pending Sale) ….….. 28 -30.2% Percent Under Contract ………….…… 22.22% Percent Under Contract ………….…… 52.94% 138.2%
  15. 15. WESTWOOD – CENTURY CITY SFRQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $1,419,070 Median Price ……………………..……. $1,400,000 -1.3% Average Price per Square Foot ….… $558 Average Price per Square Foot ….… $598 7.2% Properties Sold ………………………. 34 Properties Sold ………………………. 61 79.4% Properties Pending Sale ……………… 37 Properties Pending Sale ……………… 42 13.5% Properties For Sale …………….……... 113 Properties For Sale …………….……... 69 -38.9% Days on Market (Pending Sale) ….….. 50 Days on Market (Pending Sale) ….….. 59 19.1% Percent Under Contract ………….…… 32.74% Percent Under Contract ………….…… 60.87% 85.9%
  16. 16. WESTWOOD – CENTURY CITY CONDOQ4 2011 Q4 2012 % CHANGE Median Price ……………………..……. $547,000 Median Price ……………………..……. $605,500 10.7% Average Price per Square Foot ….… $463 Average Price per Square Foot ….… $495 6.9% Properties Sold ………………………. 104 Properties Sold ………………………. 108 3.8% Properties Pending Sale ……………… 94 Properties Pending Sale ……………… 110 17.0% Properties For Sale …………….……... 521 Properties For Sale …………….……... 305 -41.5% Days on Market (Pending Sale) ….….. 69 Days on Market (Pending Sale) ….….. 103 49.5% Percent Under Contract ………….…… 18.04% Percent Under Contract ………….…… 36.07% 99.9%
  17. 17. Glossary of TermsMedian Price: A value that separates the upper Properties For Sale: The number of properties onhalf of prices from the lower half of prices. It can the market and seeking buyers.be interpreted like an average, however theextreme prices (high and low) don’t hold Days on Market (Pending Sale): The number ofundue. days that properties currently in escrow were on the market.Average Price per Square Foot: The price pereach property divided by their respective Absorption Rate: The rate at which the inventorysquare footage then averaged across all of home for sale are being sold.properties sold in the area for a given timeperiod. Percent Under Contract: The ratio of properties to properties sale.Properties Sold: The number of propertytransactions that closed and transferredownership.Properties Pending Sale: The number ofproperties that entered escrow in preparationfor sale.
  18. 18. DisclaimerThe Market Within A Market Report is compiled by our Regional Marketing Director, MichaelLewis.Information obtained from Broker Metrics and DataQuick. Broker Metrics and DataQuickstatistics 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 notdoubt its accuracy, we have not verified it and make no representations, guarantees orwarranties about it.For More Information, Contact:Michael LewisRegional Marketing Directorm.lewis@kw.com

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