The Los Angeles real estate real estate market is crazy right now, with little inventory and anything coming on the market going into mulitples and over asking. Let’s see what’s went on by neighborhood for the 2nd Qtr of 2013 and compare it to the 1st Qtr. Are there any buyers’ markets still left?
The communities below exclude the cities of Beverly Hills, Santa Monica, West Hollywood, and Culver City, and the communities of Westwood, Brentwood and Century City which are covered separately, as is the Wilshire Corridor.
The comparison is against the 1st Quarter of 2013.
Los Angeles Single Family Homes
| Community | Sold | +/- | Median |
+/- | Active | Median | Pending |
| Bel Air/Holmby Hills* | 52 | +14 | $2,112,500 | +70.71% | 82 | $3,495,000 | 33 |
| Beverly Center | MM* | 79 | +38 | $1.125,000 | +8.17% | 32 | $1,349,500 | 39 |
| Beverly Hills P.O. | 45 | +6 | $2,136,000 | +20.34% | 87 | $2,750,000 | 35 |
| Beverlywood | 56 | +21 | $732,500 | +1.74% | 37 | $1,295,000 | 23 |
| Cheviot Hills/Rancho Pk * | 30 | +16 | $1,430,500 | +18.81%% | 14 | $1,339,250 | 13 |
| Hancock Park Vicinity* | 80 | +36 | $1,145,000 | +32.75% | 66 | $1,424,500 | 59 |
| Hollywood | 18 | +3 | $627,500 | +7.26% | 15 | $795,000 | 22 |
| Hollywood Hills E. | 56 | +20 | $932,500 | -2.36% | 52 | $1,446,500 | 24 |
| Hollywood Hills W/Sunset | 153 | +52 | $1,400,000 | +15.32% | 174 | $1,997,000 | 72 |
| Los Feliz/Atwater Village* | 79 | +15 | $709,000 | +8.74% | 46 | $1,694,500 | 51 |
| Malibu | 55 | -6 | $2,100,000 | +27.27% | 243 | $4,450,000 | 50 |
| Marina Del Rey | 12 | +2 | $1,767,500 | +6.00% | 10 | $3,550,250 | 7 |
| Pacific Palisades | 102 | +50 | $2,085,000 | -10.50% | 81 | $2,895,000 | 51 |
| Palms/Mar Vista* | 95 | +23 | $862,000 | +7.62% | 36 | $997,000 | 51 |
| Playa Del Rey | 18 | +10 | $1,205,000 | +40.52% | 20 | $1,485,000 | 8 |
| Silver Lake | Echo Park* | 93 | +8 | $709,000 | +17.19% | 55 | $749,000 | 57 |
| Studio City | 98 | +32 | $910,000 | +4.00% | 79 | $1,389,000 | 69 |
| Venice | 58 | +20 | $1,475,000 | +18.47% | 40 | $1,648,889 | 38 |
| West Los Angeles | 31 | +1 | $691,210 | +0.19% | 20 | $742,500 | 17 |
| Westchester | 89 | +33 | $735,000 | +6.10% | 29 | $840,000 | 64 |
Los Angeles Condos
| Community | Sold | +/- | Median |
+/- | Active | Median |
Pending |
| Beverly Center | MM* | 15 | -1 | $515,000 | +1.48% | 22 | $747,000 | 13 |
| Beverlywood | 13 | +2 | $526,000 | +5.20% | 12 | $598,900 | 19 |
| Downtown L.A. | 112 | +7 | $539,000 | +21.12% | 98 | $599,000 | 71 |
| Hancock Park Vicinity* | 58 | +27 | $447,000 | +3.11% | 64 | $590,000 | 40 |
| Hollywood | 46 | +22 | $520,000 | -1.61% | 34 | $643,500 | 24 |
| Hollywood Hills W/Sunset | 22 | -6 | $411,000 | +2.11% | 15 | $620,000 | 14 |
| Malibu | 20 | +5 | $655,000 | -20.13% | 23 | $895,000 | 14 |
| Marina Del Rey | 78 | +11 | $720,500 | +19.09% | 92 | $932,450 | 45 |
| Pacific Palisades | 12 | -6 | $757,500 | -3.81% | 19 | $728,000 | 24 |
| Palms/Mar Vista* | 27 | +2 | $468,000 | +14.15% | 9 | $441,900 | 12 |
| Playa Del Rey | 44 | +14 | $455,000 | +9.64% | 25 | $525,000 | 29 |
| Playa Vista | 43 | +23 | $641,000 | +18.98% | 24 | $772,500 | 27 |
| Studio City | 52 | +16 | $494,500 | +17.04% | 21 | 629,000 | 29 |
| West Los Angeles | 63 | +26 | $560,000 | +8.93% | 30 | $697,000 | 31 |
| Sellers Market | Balanced Market | Buyers’ Market |
| Less than 5 months | 5 to 7 months | More than 7 months |
Information provided by MLS/CLAW deemed reliable but not guaranteed
*These areas areas with different demographics which are combined in the MLS, so if you would like a more targeted idea of sales, don’t hesitate to contact me.
Also, areas which have fewer than 50 sales in either single family or condos are excluded from that category.
Sales are up significantly in most areas from the 1st Quarter, and the median prices are up in most areas for single family homes. The exceptions are Hollywood Hills East, and Pacific Palisades.
Condo sales are up for the most part, as are the median prices. The exceptions here are Hollywood, Pacific Palisades and Malibu.
We are still heavily in a Los Angeles sellers’ market, except again for Malibu. Bel Air and Beverly Hills Post Office are balanced.
Interest rates are up around a percent from the last Quarter and home prices are up. Inventory is low. It certainly bodes well for Los Angeles home sellers, and we desperately need them.
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