Real Estate Market Report of Homes and Condos in Los Angeles

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 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 access the broad national 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 Los Angeles 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.

$1,591,625

$701

38

35

213

83

16.43%

$1,918,000

$905

39

47

169

122

27.81%

20.5%

29.1%

2.6%

34.3%

-20.7%

46.4%

69.2%

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) ….…..

Percent Under Contract ………….……








Q4 2011 Q4 2012 % CHANGE

$2,195,000

$846

43

33

178

106

18.54%

$3,997,500

$949

61

51

152

90

33.55%

82.1%

12.2%

41.9%

54.5%

14.6%

-14.4%

81.0%

BEVERLY HILLS SFR















Q4 2011 Q4 2012 % CHANGE

$992,500

$607

18

25

118

84

21.19%

$818,000

$455

22

24

78

84

30.77%

17.6%

-25.0%

22.2%

-4.0%

-33.9%

0.0%

45.2%

BEVERLY HILLS CONDO















Q4 2011 Q4 2012 % CHANGE

$1,670,625

$616

42

33

200

85

16.50%

$1,667,500

$807

75

62

156

78

39.74%

-0.2%

31.0%

78.6%

87.9%

-22.0%

-7.8%

140.9%

BRENTWOOD SFR















Q4 2011 Q4 2012 % CHANGE

$515,000

$421

28

22

113

76

19.47%

$685,000

$453

35

39

103

61

37.86%

33.0%

7.6%

25.0%

77.3%

-8.8%

-19.4%

94.5%

BRENTWOOD CONDO















Q4 2011 Q4 2012 % CHANGE

$622,000

$434

32

28

90

57

31.11%

$665,000

$430

52

45

75

65

60.00%

6.9%

-0.9%

62.5%

60.7%

-16.7%

15.2%

92.9%

CULVER CITY SFR















Q4 2011 Q4 2012 % CHANGE

$269,500

$268

34

32

106

69

30.19%

$311,000

$289

32

36

53

53

67.92%

15.4%

7.8%

-5.9%

12.5%

-50.0%

-22.5%

125.0%

CULVER CITY CONDO















Q4 2011 Q4 2012 % CHANGE

$1,688,590

$701

62

58

223

71

26.01%

$2,155,000

$679

71

59

167

99

35.33%

27.6%

-3.1%

14.5%

1.7%

-25.1%

38.9%

35.8%

PACIFIC PALISADES SFR















Q4 2011 Q4 2012 % CHANGE

$777,000

$450

54

53

162

62

32.72%

$799,000

$539

85

81

112

37

72.32%

2.8%

19.8%

57.4%

52.8%

-30.9%

-39.7%

121.1%

PALMS – MAR VISTA SFR















Q4 2011 Q4 2012 % CHANGE

$1,709,000

$783

42

47

174

72

27.01%

$1,625,000

$843

71

71

142

46

50.00%

-4.9%

7.7%

69.0%

51.5%

-18.4%

-36.3%

85.1%

SANTA MONICA SFR















Q4 2011 Q4 2012 % CHANGE

$680,000

$530

76

66

255

55

25.88%

$690,000

$622

109

91

164

75

55.49%

1.5%

17.4%

49.3%

37.9%

-35.7%

35.1%

114.4%

SANTA MONICA CONDO















Q4 2011 Q4 2012 % CHANGE

$575,000

$423

10

10

45

40

22.22%

$707,500

$541

16

18

34

28

52.94%

23.0%

27.9%

60.0%

80.0%

-24.4%

-30.2%

138.2%

WEST LOS ANGELES SFR















Q4 2011 Q4 2012 % CHANGE

$1,419,070

$558

34

37

113

50

32.74%

$1,400,000

$598

61

42

69

59

60.87%

-1.3%

7.2%

79.4%

13.5%

-38.9%

19.1%

85.9%

WESTWOOD – CENTURY CITY SFR















Q4 2011 Q4 2012 % CHANGE

$547,000

$463

104

94

521

69

18.04%

$605,500

$495

108

110

305

103

36.07%

10.7%

6.9%

3.8%

17.0%

-41.5%

49.5%

99.9%

WESTWOOD – CENTURY CITY CONDO















Q4 2011 Q4 2012 % CHANGE

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 compiled by our 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 LewisRegional Marketing [email protected]