With this shortage of Los Angeles homes for sale it would be good to check in and see how the sold price compares with the listing price in various Los Angeles communities.
Below is a chart showing the number of properties sold over the past three months, together with the median sold price, average days on the market and average sold vs. list price.
Let’s take a look:
|Bel Air | Holmby Hills*||39||92.88||$1,250,000||93|
|Beverly Center|Miracle Mile*||62||100.52||$850,000||46|
|Beverly Hills P.O.||34||95.72||$1,750,000||104|
|Cheviot Hills | Rancho Pk *||13||103.17||$1,300,000||64|
|Hancock Park Vicinity*||74||98.00||$689,000||83|
|Hollywood Hills E.||48||98.59||$850,000||84|
|Hollywood Hills W/Sunset||136||96.18||$1,044,653||93|
|Los Feliz | Atwater Village*||711||98.52||$825,000||72|
|Marina Del Rey||75||97.94||$620,000||80|
|Palms | Mar Vista*||93||100.62||$700,000||57|
|Playa Del Rey||37||98.27||$451,000||95|
|Silver Lake | Echo Park*||91||100.71||$570,000||71|
|West Los Angeles||68||99.38||$599,000||85|
Information provided by MLS/CLAW deemed reliable but not guaranteed
*These areas are combined in the MLS for search purposes
As you can well see most sellers received almost full price, with many getting over asking, and days on the market were, for the most part, were quite low. (Days on the market is calculated from the time the listing came on the market to the time it went under contract).
Not surprisingly, the neighborhood that stand out is Malibu, at 86.76% of asking price and an average of 169 days on the market. Beverly Hills, Beverly Hills Post Office, Bel Air and Brentwood also did not do as well. These are some of the most expensive communities in the City, where homes tend to sit on the market longer, bringing pricing down.
This continues to be a great market for Los Angeles home sellers.
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