West LA CA July 2015 Home & Condo Sales Report
West LA CA real estate stats for Santa Monica, Venice, Pacific Palisades and Culver City February 2015.
Santa Monica
The Santa Monica, CA housing inventory stayed consistent with June’s numbers coming in at 224 properties made available. Of the 224 properties available, 81 were single-family homes and 143 were condos/townhouses. Santa Monica single-family homes stayed on the market for an average of 44 days, while condos/townhouses averaged 48. The single-family home $/Sqft median price in July was $1021/Sqft – a slight decrease from the previous month. Condos and townhouses median $/Sqft price for July was $791. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in July. The median listing price in Santa Monica went down from June to July. There were a total of 8 price increases and 24 price decreases.
Venice
The available inventory in Venice, CA was 94 properties. 69 of the available Venice properties were single-family homes and 25 were condos/townhouses. Single-family homes were on the market for an average of 59 days while condos/townhouses have been averaging about 51 days before purchase. The median $/Sqft price of a single-family home was $1069, while condos and townhouses were at $636. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in July. The median listing price in Venice went down from June to July. There were a total of 2 price increases and 12 price decreases.
Pacific Palisades
July’s available inventory was 138. Of the 138 available properties, 107 were single-family homes and 31 were condos/townhouses. Single-family homes in the Pacific Palisades area have been staying on the market for about 63 days. Condos and townhouses have been on the market for about 48 days. In July, single-family homes had a median $/sqft price of $1,013/sqft – a slight increase from the previous month. Condos and townhouses median $/sqft price was $603. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in July. The median listing price in Pacific Palisades went down from June to July. There were a total of 2 price increases and 19 price decreases.
Culver City
The inventory in Culver City for July was at 119 available properties. Of the 119 properties made available in Culver City, CA 67 were single-family homes with a median $/sqft price of $641. Single-family homes have stayed on the market an average of 44 days. Condos and townhouses accounted for 41 of the available properties in Culver City. The median $/sqft price was $445 – a slight increase from June’s numbers. Condos and townhouse in Culver City have been on the market for an average of 41 days. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in July. The median listing price in Culver City went down from June to July. There were a total of 7 price increases and 12 price decreases.
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