Any Doubt that the Los Angeles Real Estate Market Favors Sellers?

By now I am sure everyone is aware that the Los Angeles real estate market heavily favors sellers, and I mean heavily. Is this just talk to get homeowners to sell or is it real?

The chart below is based on sales over the past six months.Los Angeles home sellers we want upi

 

Single Family

Community Sold Avg DOM Avg Sales vs List
Bel Air/Holmby Hills* 67 122 86.60%
Beverly Center | MM* 84 51 99.35%
Beverly Hills 78 86 94.61%
Beverly Hills P.O. 75 97 93.95%
Beverlywood 89 55 98.43%
Brentwood 92 67 97.76%
Cheviot Hills/Rancho Pk * 32 45 100.72%
Culver City  89 50 102.68%
Hancock Park Vicinity* 130 65 98.24%
Hollywood 24 67 100.90%
Hollywood Hills E. 64 76 98.28%
Hollywood Hills W/Sunset 196 76 96.02%
Los Feliz/Atwater Village* 115 51 99.09%
Malibu 108 165 92.61%
Marina Del Rey 28 51 96.76%
Pacific Palisades 130 62 98.07%
Palms/Mar Vista* 158 50 101.29%
Playa Del Rey 26 60 97.56%
Santa Monica 95 60 99.43%
Silver Lake | Echo Park* 159 46 102.71%
Studio City 156 65 100.80%
Venice 106 67 98.36%
West Hollywood* 58 61 99.08%
West Los Angeles 41 47 100.50%
Westchester 142 49 100.11%
Westwood 39 54 97.85%

 

 Condos

Community Sold Avg DOM Avg Sales vs List
Beverly Center | MM* 69 70 98.65%
Beverly Hills 54 87 96.36%
Beverlywood 29 70 99.20%
Brentwood 95 59 98.99%
Century City 67 130 96.14%
Culver City 84 43 100.94%
Downtown L.A. 233 62 101.11%
Hancock Park Vicinity* 81 61 98.44%
Hollywood 58 72 97.51%
Hollywood Hills E. 18 49 100.27%
Hollywood Hills W/Sunset 44 70 98.78%
Los Feliz/Atwater Village* 17 38 102.88%
Malibu 23 101 95.03%
Marina Del Rey 155 73 97.47%
Pacific Palisades 32 56 98.75%
Palms/Mar Vista* 49 67 100.00%
Playa Del Rey 73 69 98.59%
Santa Monica 189 52 99.07%
Silver Lake | Echo Park* 25 60 100.29%
Studio City 73 56 99.02%
Venice 24 73 98.25%
West Hollywood* 189 59 98.74%
West Los Angeles 86 52 99.92%
Westchester 20 95 99.18%
Westwood 115 75 95.44%

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.

(Median prices for each area are listed under Market Reports for each neighborhood).

As a rough guide the average days on the market (DOM) for single family homes for the same period the previous year was 74 to 104, and the average sold price vs list was around 95.20%. For condos the average DOM was 74 to 91 and the average sold price vs list price was 96.80%.

With the exception of the higher end markets such as Malibu, Bel Air, and Beverly Hills, especially for single family homes, the market strongly favors sellers.

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Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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