How is the Los Angeles Real Estate Market? 2013 in Review

Let’s take a look how Los Angeles real estate did in 2013 compared to the previous year. Which areas favor sellers and which favor buyers? 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

 Los Angeles homes for sale market report

Los Angeles Single Family Homes

Community Sold +/- 2012 Price Range Median +/- 2012 Active Median Pending
Bel Air/Holmby Hills* 186 +24 $517,500 – $28,800,000 $1,892,500 +12.31% 68 $5,634,500 14
Beverly Center | MM* 237 +21 $449,000 – $3,400,000 $1,150,000 +28.85% 33 $1,350,000 24
Beverly Hills P.O. 175 +22 $385,000 – $12,750,000 $1,975,000 +8.22% 83 $3,200,000 26
Beverlywood 190 -14 $260,000 – $3,182,400 $799,500 +6.53% 32 $954,500 35
Cheviot Hills/Rancho Pk * 88 +15 $580,000 – $3,650,000 $1,372,500 +2.81% 2 $2,947,500 6
Hancock Park Vicinity* 287 +8 $320,000 – $8,200,000 $1,130,000 +22.16% 44 $1,327.000 43
Highland Park 286 +46 $145,00 – $1,150,000 $442,000 +10.5% 41 $499,000 47
Hollywood 79 +9 $242,000 – $1,790,000 $590,000 +28.26% 9 $790,000 9
Hollywood Hills E. 177 -9 $461,000 – $5,300,000 $975,000 +9.55% 37 $1,495,000 18
Hollywood Hills W/Sunset 476 +42 $400,000 – $20,000,000 $1,390,350 +11.74% 159 $2,295,000 54
Los Feliz/Atwater Village* 282 +41 $161,000 – $4,675,000 $1,040,725 +17.07% 54 $1,537,500 24
Malibu 239 -8 $622,000 – $17,350,000 $2,100,000 +5% 179 $4,595,000 40
Pacific Palisades 322 +40 $610,500 – $17,500,000 $2,238,750 +16% 76 $4,096,500 27
Palms/Mar Vista* 352 +11 $340,000 – $2,587,500 $893,000 +20.68% 35 $1,149,000 33
Playa Del Rey 51 -1 $600,000 – $3,715,000 $1,135,000 +26.11% 8 $1,947,000 7
Silver Lake | Echo Park* 367 +52 $90,000 – $2,089,500 $685,000 +21.89% 45 $699,000 45
Studio City 358 +52 $400,000 – $5,700,000 $975,000 +14.04% 66 $1,477,000 43
Venice 229 +7 $668,000 – $4,650,000 $1,350,000 +23.85% 30 $1,922,500 17
West Los Angeles 116 +38 $195,000 – $1,495,000 $755,000 +15.89% 8 $792,450 11
Westchester 336 +35 $402,000 – $2,102,000 $749,500 +17.85% 16 $849,250 34

 

Los Angeles Condos

Community Sold +/- 2012 Price Range Median +/- 2012 Active Median Pending
Beverly Center | MM* 100 +10 $272,000 – $1,260,000 $670,000 +33.87% 19 $543,000 9
Beverlywood 62 +5 $310000 – $1,285,000 $528,000 +0.57% 12 $709,500 8
Downtown L.A. 410 -85 $120,000 – $4,050,000 $480,000 +35.21% 109 $549,900 62
Hancock Park Vicinity* 186 -5 $190000 – $1,650,000 $449,500 +19.87% 40 $487,500 20
Hollywood 135 +17 $150,000 – $1,500,000 $556,000 +2.39% 39 $689,000 15
Hollywood Hills W/Sunset 100 +19 $205,000 – $3,350,000 $460,950 +31.70% 28 $599,500 6
Malibu 60 +6 $293,000 – $6,500,000 $775,000 +33.62% 38 $837,500 7
Marina Del Rey 325 +20 $163,500 – $3,300,000 $686,000 +17.77% 90 $854,500 38
Pacific Palisades 78 +16 $317,333 -  $3,600,000 $833,500 +25.34% 11 $799,000 13
Palms/Mar Vista* 126 -2 $165,000 – $685,000 $465,000 +24% 12 $493,000 10
Playa Del Rey 161 +14 $190,000 – $1,450,000 $447,000 +31.47% 12 $519,000 20
Playa Vista 148 -13 $260,000 – $1,305,000 $637,500 +24.76% 11 $819,000 9
Studio City 182 +47 $200,000 – $769,000 $475,000 +22.11% 28 $590,500 26
West Los Angeles 183 +9 $260,000 – $1,250,000 $605,000 +15.24% 22 $594,000 23

 

Sellers’ Market Stable Market Buyers’ Market
Less than 5 months inventory 5 to 7 months inventory More than 7 months inventory

*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 of Los Angeles single family homes are up overall compared with 2012, and median prices are up by a healthy margin in most areas.

Los Angeles condo sales are up in all areas over 2012 and the median price showed a healthy rise in most areas.

Except for Malibu which remains a buyers’ market and Beverly Hills Post Office which is balanced, Los Angeles real estate favors sellers.

Los Angeles homes for sale

 

 

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the CONTACT FORM or call me at 310-473-6919

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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Comments

  1. Those increases are very impressive., and I’m sure a lot of buyers are kicking themselves for not getting ahead of this market. The big question now will be how long can this continue.I’m still seeing a lot of cash buyers because of the mortgage process. It’s almost like water torture.

  2. It’s pretty crazy here too. It will be interesting to see what happens.

  3. These are great snapshot stats Jane. I’m shocked by your +/- 2012 stats. I don’t think there’s anyway our market can compare.

    If you don’t mind, I’d like to create a list as comprehensive as this for our market and then we can compare notes. I think it would be really interesting to see the difference.

    You have a very effective way of showing what you’re market is doing. I’m impressed.

  4. Sounds like a great idea, Jody. Let me know when you have done it.

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