HOME PRICES: THEY’RE NOT GETTING ANY CHEAPER
A survey of home sales over a six-month period in 25 Westside and nearby communities found that average sale prices declined--slightly--in only two of the communities, Brentwood and Venice. The beach area of Malibu reported the greatest price increase, 51%, while the cost of buying a home increased 33% in Marina Del Rey and 31% in the Westwood area. The first row of statistics reports the average list and sale prices, and length of time on the market, for houses sold between Aug. 4, 1987 and Feb. 4, 1988. The previous survey period was March 17 to Sept. 19, 1987, so there is some overlap. The survey did not include houses listed but still unsold during those periods.
SIX MONTHS ENDING FEB. 4 PREVIOUS SIX MONTHS BEVERLY HILLS List: $1,501,363 $1,267,231 Sold: $1,139,008 $973,517 Time: 144 days $152 BEVERLY HILLS POST OFFICE List: $843,305 $834,200 Sold: $765,514 $710,795 Time: 142 days 166 BEL-AIR List: $1,248,875 $1,106,470 Sold: $1,050,342 $972,727 Time: 136 days 154 BRENTWOOD List: $732,576 $764,175 Sold: $683,078 $699,432 Time: 107 days 130 CHEVIOT HILLS-RANCHO PARK List: $432,240 $431,694 Sold: $421,493 $389,018 Time: 87 days 96 CULVER CITY List: $235,864 $222,108 Sold: $228,428 $215,354 Time: 91 days 107 HANCOCK PARK-WILSHIRE List: $450,537 $399,554 Sold: $407,255 $341,325 Time: 116 days 114 HOLLYWOOD HILLS EAST List: $317,644 $292,462 Sold: $301,769 $274,671 Time: 117 days 134 HOLLYWOOD-WEST HOLLYWOOD List: $197,431 $181,087 Sold: $186,854 $171,200 Time: 117 days 127 LOS FELIZ List: $393,707 not available Sold: $372,305 Time: 115 days MALIBU BEACH List: $2,079,473 $1,426,062 Sold: $1,958,421 $1,296,560 Time: 178 days 206 MALIBU LANDSIDE List: $489,483 $437,023 Sold: $462,659 $448,409 Time: 162 days 179 MARINA DEL REY List: $345,347 $263,180 Sold: $330,748 $248,566 Time: 119 days 81 MIRACLE MILE-WILSHIRE AREA List: $301,401 $261,589 Sold: $284,214 $249,062 Time: 83 days 117 PACIFIC PALISADES List: $730,777 $619,348 Sold: $660,499 $579,454 Time: 118 days 125 PALMS-MAR VISTA List: $276,592 $248,240 Sold: $271,188 $238,362 Time: 87 days 105 PLAYA DEL REY List: $404,666 n.a. Sold: $384,500 Time: 87 days SANTA MONICA List: $546,156 $458,005 Sold: $514,053 $432,643 Time: 89 days 114 SILVERLAKE List: $198,159 n.a. Sold: $184,707 Time: 108 days SUNSET STRIP-HOLLYWOOD HILLS WEST List: $464,774 $425,782 Sold: $424,040 $384,960 Time: 123 days 131 VENICE List: $247,125 $228,659 Sold: $236,077 $238,787 Time: 93 days 96 WESTCHESTER List: $253,937 n.a. Sold: $250,708 Time: 84 days WEST LOS ANGELES List: $239,810 $215,243 Sold: $224,117 $207,305 Time: 82 days 89 WEST HOLLYWOOD List: $259,870 $217,244 Sold: $255,817 $207,020 Time: 127 days 126 WESTWOOD-CENTURY CITY List: $583,708 $479,428 Sold: $583,708 $445,437 Time: 98 days 112
Source: Jon Douglas Co., based on sales reported through multiple listing services .
