The Market Pulse — Our 3rd Quarter Breakdown for the Westside

The third quarter of 2018 saw the average Venice single family home price remain unchanged while the price of condominiums rose significantly as compared to Q3 of last year by 20.9%. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

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The third quarter of 2018 saw the average Santa Monica single family home price rise 8.5% as well as the price of condominiums by 6.7% as compared to Q3 of last year. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

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The third quarter of 2018 saw the average Mar Vista single family home price rise significantly by 10.1% as well as the price of condominiums by 14.5% as compared to Q3 of last year. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

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The third quarter of 2018 saw the average Marina del Rey single family home price fall 4.6% while the price of condominiums rose significantly as compared to Q3 of last year by 10.3%. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

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The third quarter of 2018 saw the average Culver City single family home price rise 5.8% as well as the price of condominiums by 2.3% compared to Q3 of last year. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

Download the full market pulse for Culver City HERE

The third quarter of 2018 saw the average Playa Vista single family home price fall 8.1% while the price of condominiums rose as compared to Q3 of last year by 1.6%. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

Download the full market pulse for Playa Vista HERE

The third quarter of 2018 saw the average Playa del Rey single family home price fall 9.3% while the price of condominiums rose as compared to Q3 of last year by 6.1%. The activity of the real estate market is changing with the inventory of homes growing and the days on market increasing. The Fed last week raised interest rates for a third time this year to a range of 2-2.5% as U.S. Federal Reserve Chairman Jerome Powell hailed a “remarkably positive outlook” for the U.S. economy. He feels the U.S. economy is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.* We see this as the beginning of a “normal” market where both buyers and sellers will have the opportunity to achieve their real estate goals.

Download the full market pulse for Playa Del Rey HERE

Download the full market pulse for all neighborhoods HERE

*Reuters.com: Fed’s Kaplan sees three more U.S rate hikes ahead, but says could be more, Fed’s Powell says U.S. outlook ‘remarkably positive’, October 2, 2018.