market within a 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.

$999,000

$864,750

16.92%

-13.4%

- 9.1%

- 28.6%

-25.5%

-75.4%

208.2%

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) ….…..

Month’s supply of Inventory……….…

Percent Under Contract ………….……

$999,000

$869,500

- 27.5%

203.3%

BEVERLY CENTER – MIRCLE MILE SFR

$608,800

$610,000

-72.7%

-42.9%

- 54.8

-28.2%

BEVERLY CENTER – MIRCLE MILE CONDO

$3,040,000

$2,080,000

11.61%

-25.0%

- 22.2%

- 28.2%

-38.1%

BEVERLY HILLS SFR

$725,000

$765,000

- 27.8%

-64.6%

-72.7%

153.8%

BEVERLY HILLS CONDO

$2,190,768

$2,048,750

-17.2%

- 33.3%

133.3%

-66.3%

-142.8%

BEVERLY HILLS P.O. SFR

$732,250

12.12%

$755,000

14.52%

- 50.0%

- 6.1%

-45.1%

-33.3%

BEVERLYWOOD SFR

$1,570,000

$2,020,000

- 20.5%

- 47.1%

- 62.5%

- 52.2%

BRENTWOOD SFR

$632,500

$515,000

11.43%

-18.6%

- 35.7%

- 50.7%

-44.4%

-71.6%

170.2%

BRENTWOOD CONDO

$1,425,500

14.29%

$1,442,000

- 16.7%

-60.0%

- 31.4%

-41.7%

CHEVIOT HILLS-RANCH PARK SFR

$697,000

$672,500

22.22%

- 28.6%

140.0%

-70.2%

140.0%

CULVER CITY SFR

$300,000

$275,000

- 12.5%

-34.9%

CULVER CITY CONDO

$963,250

$1,087,000

- 12.5%

-52.6%

-34.9%

HANCOCK PARK-WILSHIRE SFR

$655,525

$350,000

- 46.5%

138.1%

HOLLYWOOD SFR

$425,000

$855,000

101.2%

- 66.7%

-40.4%

-64.9%

151.6%

HOLLYWOOD CONDO

$860,000

11.63%

$700,000

16.18%

-18.6%

-20.9%

-47.7%

HOLLYWOOD HILLS EAST SFR

$810,000

11.11%

$859,000

13.58%

-10.0%

-25.8%

LOS FELIZ SFR

$447,500

15.79%

$485,000

-66.7%

- 36.8%

- 26.3

- 47.2%

LOS FELIZ CONDO

$1,605,000

$2,450,000

-16.9%

-72.3%

212.0%

MALIBU SFR

$1,605,000

$2,275,000

-16.5%

-72.1%

210.4%

MALIBU BEACH SFR

$1,260,000

11.54%

-115.4%

-50.4%

MARINA DEL REY SFR

$595,000

$ 523,600

12.03%

-13.9%

-34.8%

137.5%

-29.5%

-43.7%

MARINA DEL REY CONDO

$310,000

$ 284,975

12.20%

-29.4%

-40.6%

-18.1%

-55.3%

MID LOS ANGELES SFR

$440,000

$ 398,000

11.76%

-33.3%

-59.5%

-45.3%

-55.8%

MID WILSHIRE SFR

$1,567,500

$1,284,250

11.90%

-18.1%

- 4.7%

-28.4%

-34.2%

-44.2%

PACIFIC PALISADES SFR

$662,500

11.00%

$760,000

22.73%

-37.0%

-12.0%

-13.2%

-64.7%

106.6%

PALMS – MAR VISTA SFR

$2,275,000

14.40%

$1,709,000

14.56%

-24.9%

- 4.6%

-16.7%

-17.6%

-20.8%

-19.6%

SANTA MONICA SFR

$803,250

12.03%

$665,000

11.41%

-17.2%

-13.1%

-26.5%

-41.4%

-38.2%

SANTA MONICA CONDO

$675,000

14.14%

$550,000

17.11%

-18.5%

-16.9%

-12.5%

-23.2%

-31.3%

-17.3%

SILVER LAKE – ECHO PARK SFR

$840,000

$915,000

- 5.4%

- 28.6%

- 5.5%

STUDIO CITY SFR

$494,500

$670,500

12.50%

- 50.0%

- 27.5%

- 81.9%

- 60.0%

143.8%

STUDIO CITY CONDO

$1,225,000

$1,470,000

-27.5%

-18.5%

-43.4%

SUNSET STRIP – HOLLYWOOD HILLS WEST SFR

$386,000

10.53%

$316,725

-17.9%

-50.0%

-43.9%

-14.3%

-10.9%

SUNSET STRIP – HOLLYWOOD HILLS WEST CONDO

$870,000

$1,145,000

-34.1%

-65.9%

-43.4%

VENICE SFR

$540,000

$410,000

16.87%

-24.1%

-10.5%

-16.1%

-36.9%

-24.2%

-70.6%

161.1%

WEST HOLLYWOOD CONDO

$732,000

10.26%

$570,000

16.00%

-22.1%

-11.8%

133.3%

-35.9%

-11.2%

-51.3%

WEST LOS ANGELES SFR

$1,312,000

$1,680,300

18.03%

-11.1%

-11.6%

-62.0%

-67.8%

107.2%

WESTWOOD – CENTURY CITY SFR

$592,500

$585,500

-29.1%

-13.9%

-34.2%

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 m.lewis@kw.com

market within a market report

sale properties

market pending sale

average price

sales price

square foot

real estate market

specialized market trends

months supply of inventory

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