Los Angeles Living

Beverly Hills real estate market report

The Beverly Hills real estate market remains sluggish.

Homes under $2 million are the strongest sector of this market with 4.33 months of inventory which indicates a sellers market.

Homes over $2 million have 10.40 months of inventory and average days on the market have risen, pointing to a buyers market.

Condos under $2 million show slow but steady sales.  With 8.88 months of inventory, buyers should be out looking.

Condos over $2 million.  This is probably the most impacted area of the Beverly Hills real estate market.  The sales to list price is high, but with over 39 months inventory and a median price of around $7 million, there is little or no movement.

This report covers the first two weeks of September.

The Westwood Los Angeles real estate market is chugging along in the under $2 million category.  Three homes and 6 condos sold in that price range. 

Westwood Los Angeles homes under $2 million are doing better than condos in the same.  Average days on the market for single family homes are almost half those for condos.  The single family home months inventory indicates a strong sellers' market while for condos it is still a buyers' market

The luxury market, homes and condos over $2 million remains sluggish.  There have been no sales in the month of September.  Months inventory for single family homes is fairly balanced at 6.66 months, but the high end condo market has a staggering 35 months inventory

Data provided by MLS CLAW deemed reliable, but not guaranteed.

12 homes are under contract under $2M
6 homes are under contract over $2M
29 condos are under contract under $2M
1 condo is under contract over $2M

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The Culver City housing market is healthy, especially considering current market conditions.  The median price has remained steady, days on the market are low, and the sales vs list price percentage is extremely high.  With the months supply of inventory around 4.5 this is a strong market for sellers.

There are presently 29 single family homes and 41 condos under contract

Data provided by MLS CLAW deemed reliable, but not guaranteed.

The Westwood Los Angeles real estate market is a mixed bag.The median sold prices in all categories except condos over $2M remain steady but in the latter category, the median is down.  However with only two sales in the past two months, that is not a reliable statistic.

Days on the market are pretty much unchanged

The median price remains steady and sales to list price percentage is also pretty stable.  The luxury market continues to be overpriced reflected by a low of 90% for the last two sales of condos over $2M

All categories are a strong buyers' market except for single family homes under $2 million, with the condos over $2 million category showing a whopping 52.5 month inventory.  There is going to have to be some hefty price changes to sell the 35 sitting on the market, the overwhelming majority of which are on the Wilshire Corridor.

Data provided by MLS CLAW deemed reliable, but not guaranteed.

10 homes are under contract under $2M
5 homes are under contract over $2M
31 condos are under contract under $2M

The Brentwood real estate market remains steady. The median prices have increased slightly in all categories, sales to list price percentage are stabloes, days on the market are down slightly.  The months inventory in the under $2 million single family market is 3.85 but in the other two categories they are over the balanced six month level.

18 under $2M homes are under contract
16 over $2M homes are under contract
19 condos are under contract

Data provided by MLS CLAW deemed reliable, but not guaranteed.

The Santa Monica real estate market remains steady. All categories are a healthy sellers' market except in the the over $2M single family niche. 6 months inventory represents a balanced market.

The median price remains steady.

Data provided by MLS CLAW deemed reliable, but not guaranteed.

The Wilshire Corridor, also known as The Golden Mile, stretches from Westwood Blvd. to Club View Dr. and is home to some of the most luxurious condominium buildings in Los Angeles.

In the over $1 million category, only one condo sold in July at the Californian, 10800 Wilshire, for $2,050,000 a realization of 85.77% of the list price. It went under contract in one day.

There are 62 units on the market at an average price of $2,947,015 and the average days on the market are 165.

There are 3 units under contract.

In the under $1 million category on the Wilshire Corridor there were 5 condos sold for an average of $545,600.  Average days on the market were 68.

There are 50 units on the market $647,898, and average days on the market are 108.

There are 12 units under contract.

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Having lived near St. John's Wood in North West London, I was tickled to see that it followed me to Los Angeles.

St. John's Wood at 1730 Sawtelle Blvd. in West Los Angeles is the second project in what is know as the "Britishfication of Sawtelle" by Peter Wilson, a Brit himself.

This FHA approved green condo project has already sold 25 out of 55 units in 3 weeks.  2 bed 2 bath units up to 1,250 sq. ft. are priced from $439,000 to $499,000.  2 bed 2 bath loft-style units are up to 1,400 sq. ft and priced from $559,000 to $599,000. The ceilings in the units are 9 ft ceiling and in the lofts 16 ft, with beautiful features and appliances.  Views are towards the ocean, Culver City and Venice.

Sawtelle Blvd. is at the heart of West Los Angeles and if you like an eclectic mix of food there are restaurants galore.

Sawtelle also has an excellent Walk Score, 87 out of 100, from Google Maps.  There is no shortage of activities and venues in the area.

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The Culver City statistics below are taken from the MLS CLAW and are for single family homes only.  They do not include condos, income property, or private sales.

June was a good month for Culver City home sales.   The number of homes sold was up 66% over May, the median sold price was up 2% and the median sold price vs the median list price difference was down 45%, i.e. the June sold price was much closer to asking price over May. Days on the market of homes sold was down by 13 and the homes under contract was up by 200%.  The months supply of inventory, i.e. market absorption rate, indicates that Culver City is definitely in a sellers' market.

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The June statistics below reflecting Brentwood Los Angeles housing market  are taken from the MLS and are for single family homes only.  They do not include condos, income property, or private sales.

June continued as a good month for Brentwood home sales.  The number of homes sold and under contract rose healthily over May. The median price of homes sold was up slightly, and number of days on the market of was down.

The months supply of inventory rose to 7.75,  which indicates a shift towards a buyers market.

Search Brentwood Homes for Sale under $2 million

Search Brentwood Homes for Sale over $2 million