Los Angeles Real Estate Weekly Update | Week Ending June 24th, 2012

If you are buying Los Angeles real estate or selling, mortgage interest rates are low, home prices are probably at or near bottom, and in many areas are rising.  If you are selling Los Angeles real estate, the same applies.  Let’s see how this week compares with Los Angeles real estate sales week ending June 17th.  

The +/- indicates the difference over the previous week.

New listings may also reflect properties that dropped out of escrow and came back on the market.

All figures are for units that came on the market, went pending (into escrow) or sold over the past week.

Los Angeles real estate market report week ending July 24th, 2012

Los Angeles Single Family Homes

Community New +/-  Median Pending +/- Sold +/- Median High Low
Beverly Hills 4 -3 $3,795,000 5 +1 5 +3 $3,200,000 $7,750,000 $3,200,000
Bel Air/Holmby Hills 4 -6 $6,072,500 3 +1 3 +2 $1,900,000 $11,125,000 $15,075,000
Beverly Center | MM 5 -2 $849,000 5 -3 6 +4 $530,000 $1,226,000 $802,475
Beverly Hills P.O. 6  -4  $1,900,000  4 -6  2  = $2,037,500 $2,250,000 $1,825,000
Beverlywood 7 +4 $912,000 1 -6  4 +2 $730,000 $780,000 $315,000
Brentwood 5 -4 $1,995,000 9 -2 5 +1 $2,075,000 $3,290,000 $1,149,000
Cheviot Hills/Rancho Pk  3 +1 $1,225,000  1 -1  1 -2 $1,485,000 N/A N/A
Culver City 11 +4 $739,000  5 -4  4 -3 $562,000  $370,000 $880,000
Hollywood 2  +1 $564,000 2 +2 4  +2 $477,000 $273,500 $1,265,000
Hollywood Hills E. 7 +4 $1,049,800 1 -4 3 +1 $1,225,000 $606,000 $2,560,000
Hollywood Hills W/Sunset 23 +7  $1,397,500 14 +3  7 +4 $1,470,000  $435,000 $9,800,000
Los Feliz/Atwater Village* 3 -4 $895,000 4 -2  4  +3 $620,950 $516,500 $985,000
Malibu  8 -2 $3,172,500 4 -3 7 +1 $3,200,000  $205,000 $7,000,000
Marina Del Rey 3 +3 $1,445,000  4 +3 0 = N/A  N/A N/A
Pacific Palisades 18 +9  $1,945,000 11 -3  8  = $1,797,500  $1,200,000 $8,645,000
Palms/Mar Vista  10 -2 $764,375 7 +2 5  +1 $688,000 $460,000 $840,000
Playa Del Rey 0 -1 N/A 0 -2  0  = N/A N/A N/A
Playa Vista 0 = N/A 1 =  1  +1 $939,000 N/A N/A
Santa Monica 7 -4  $1,359,000  7 -1 3 -1 $3,463,000  $2,730,000 $3,770,000
Silver Lake | Echo Park  7 -8 $575,000 7 -4  5 -10 $709,000  $532,500 $874,150
Studio City  9 -3 $1,249,000  4 -2 5 -4 $665,000 $485,000 $3,950,000
Venice 6  +1  $887,000 5 -2  4  = $1,241,250 $610,000 $1,720,000
West Los Angeles 3 +2  $249,000 5 = 4 +4 $533,500 $450,000 $660,000
Westchester 11 +7 $710,000 10 = 6 +4 $734,000  $530,500 $850,500
Westwood/Century City 5 +3  $1,499,000 6 +3  3 +3 $1,225,000 $875,000 $1,475,000

In terms of sales, the hottest areas are:  Malibu and Hollywood Hills West.

For upcoming sales: Hollywood Hills West, Pacific Palisades and Westchester.

New inventory:  Hollywood Hills West, Pacific Palisades, Culver City and Westchester.Echo Park

Los Angeles Condos

 Community New +/- Median Pending +/- Sold +/- Median Low High
Beverly Hills 8 +6 $812,000 3 +3 3 +3 $1.040.000 $500,000 $1,330,000
Bel Air/Holmby Hills 0 = N/A 0 =  0 = N/A N/A N/A
Beverly Center | MM 0 -4 N/A 5 +4 2 +2 $430,000 $415,000 $445,000
Beverly Hills P.O. 0 = N/A 0 = 0 = N/A N/A N/A
Beverlywood 2 +1 $494,450 2  +2 0  -1 N/A N/A N/A
Brentwood 3 +2 $499,000 5 +2 2 = $512,000 $400,000 $624,000
Cheviot Hills/Rancho Pk  0 = N/A 0 =  0 = 0 N/A N/A
Culver City 0 -3 N/A  4 -3  3 +2 $265,000 $252,500 $383,000
Hollywood  2 = $619,004  6 +4 5 +4 $380,000 $260,000 $715,000
Hollywood Hills E. 2 = $349,000 2 +2 1 -1 $533,200 N/A N/A
Hollywood Hills W/Sunset  3 +1 $975,000 0 -1 0 -2 N/A N/A N/A
Los Feliz/Atwater Village* 0 =  N/A 0 =  0 = N/A N/A N/A
Malibu 4 +1 $917,000  0 -1 1 +1 $825,000 N/A N/A
Marina Del Rey 8 =  $875,000 9 -1  4 -2 $519,425 $472,000 $1,210,000
Pacific Palisades 2 -1  $754,500 0 -2  3 +2 $592,000 $580,000 $698,000
Palms/Mar Vista 0 -2  N/A 3 -1 3 +1  $380,000 $242,000 $385,000
Playa Del Rey 2  -1  $389,750  2 = 0 -1 N/A N/A N/A
Playa Vista 5 +5 $599,999 3 -1  4 +2 $472,500 $395,000 $512,000
Santa Monica  9 -5 $499,000 9 -8 5 -3  $930,000 $510,000 $1,025,000
Silver Lake | Echo Park  0 = N/A 0 -3 1 -1  $385,000 N/A N/A
Studio City 3 +2  $609,900  3 +1 3 +1 $425,000 $300,000 $455,000
Venice 2 +2  $1,109,000 0 -1 0 -2 N/A N/A N/A
West Los Angeles  3 -1 $539,000 6 +3 1 -1 $415,000 N/A N/A
Westchester  2 = $389,750  2 = 0 -1 N/A N/A N/A
Westwood/Century City  16 +2 $614,450 16 +2 3 -8 $680,000 $637,5000 $735,000

The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed

The Los Angeles condo market is much slower than the single family market.  Not surprisingly, given the concentration of condos in those areas:

Top sales:  Hollywood, Marina Del Rey, Playa Vista and Santa Monica

Pending:  Hollywood, Beverly Center|Miracle Mile, Brentwood, Marina Del Rey, Santa Monica and Westwood|Century City

New inventory:  Beverly Hills, Marina Del Rey, Santa Monica and Westwood|Century City

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Buying or Selling Los Angeles Real Estate

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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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  1. Thank you very much.

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