Snapshot of the Westside LA Real Estate Market

Santa Monica

Average price per sq. ft. for Santa Monica CA was $890, an increase of 9.7% compared to the same period last year. The median sales price for homes in Santa Monica CA for Sep 15 to Dec 15 was $1,202,500 based on 116 home sales. Compared to the same period one year ago, the median home sales price increased 22.7%, or $222,500, and the number of home sales decreased 15.3%. There are currently 143 resale and new homes in Santa Monica, as well as 41 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Santa Monica CA was $2,420,490 for the week ending Dec 16, which represents an increase of 5.8%, or $133,491, compared to the prior week. Popular neighborhoods in Santa Monica include North of Montana and Wilshire Montana, with average listing prices of $4,273,083 and $1,405,249.

Venice

In Venice CA the average price per square foot was $1,312, an increase of 25.1% compared to last year at this time. The median sales price for homes in Venice CA for Sep 15 to Dec 15 was $1,600,000 based on 39 home sales. At this time last year, the median home sales price increased 8.6%, or $126,750, and the number of home sales decreased 7.1%. There are currently 96 resale and new homes in Venice, as well as 20 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Venice CA was $2,366,268 for the week ending Dec 16, which represents an increase of 0.2%, or $5,899, compared to the prior week.

Pacific Palisades

The average sq. ft price in the Pacific Palisades was $910, an increase of 9.6% compared to December 2014. The median sales price for homes in Pacific Palisades CA for Sep 15 to Dec 15 was $2,487,500 based on 52 home sales. Compared to December 2014, the median home sales price increased 16.8%, or $357,000, and the number of home sales decreased 3.7%. There are currently 97 resale and new homes in Pacific Palisades. 22 homes are in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Pacific Palisades CA was $3,842,787 for the week ending Dec 16, which represents an increase of 1.4%, or $52,731, compared to the prior week.

Culver City

In Culver City CA the average price per square foot was $545, an increase of 15% from this time last year. The median sales price for homes in Culver City CA for Sep 15 to Dec 15 was $648,500 based on 82 home sales. Compared to the same period one year ago, the median home sales price increased 2.1%, or $13,500, and the number of home sales decreased 17.2%. There are currently 26 resale and new homes in Culver City, including 30 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Culver City CA was $944,110 for the week ending Dec 16, which represents a decrease of 0.2%, or $2,018, compared to the prior week. Popular neighborhoods in Culver City include Fox Hills and Sunkist Park, with average listing prices of $387,444 and $999,714.

Brentwood

The median sales price for homes in Brentwood, Los Angeles for Sep 15 to Dec 15 was $1,456,500 based on 50 sales. Compared to the same period one year ago, the median sales price decreased 10.4%, or $168,500, and the number of sales decreased 7.4%. Average price per square foot for Brentwood was $847, an increase of 15.6% compared to the same period last year. There are currently 84 resale and new homes in Los Angeles on Trulia, including 4 open houses, as well as 16 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Brentwood was $3,800,433 for the week ending Dec 16, which represents a decrease of 12.6%, or $548,283, compared to the prior week.

For more information on the latest Westside LA real estate market trends and stats contact Coldwell Banker realtor Linda Lackey at (310) 429-1185 or llackey@coldwellbanker.com.