The Market Pulse

Our 2nd Quarter Breakdown for the Westside

The second quarter of 2017 saw the average Venice single-family home price rise significantly as compared to prices in Q2 of last year. An increase of 9.9% pushed the average sold price to $2,523,033 while the average price per square foot during that same timeframe increased by 3.1% to $1,301 per square foot from $1,261 per square foot in Q2 2016. Inventory in the area continues to remain low. The number of homes for sale during the quarter decreased 9.9% year over year and the number of homes sold during the quarter also decreased by 7.4% to 50 homes. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.



The second quarter of 2017 saw the average Santa Monica single-family home price rise as compared to prices in Q2 of last year. An increase of 6.3% pushed the average sold price to $2,925,388 while the average price per square foot during that same timeframe increased by 2.1% to $1,180 per square foot from $1,156 per square foot in Q2 2016. Inventory in the area continues to remain low. The number of homes for sale during the quarter decreased 11.8% year over year and the number of homes sold during the quarter remained the same at 69 homes. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.


The second quarter of 2017 saw the average Mar Vista single-family home price rise significantly as compared to prices in Q2 of last year. An increase of 14.6% pushed the average sold price to $1,585,195 while the average price per square foot during that same timeframe increased by 5.5% to $860 per square foot from $815 per square foot in Q2 2016. Inventory in the area improved this quarter. The number of homes for sale during the quarter increased 3.4% year over year and the number of homes sold during the quarter decreased by 17.6% to 84 homes. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.


The second quarter of 2017 saw the average Marina del Rey single-family home price rise as compared to prices in Q2 of last year. An increase of 7.7% pushed the average sold price to $1,758,880 while the average price per square foot during that same timeframe increased by 2.9% to $866 per square foot from $841 per square foot in Q2 2016. Inventory in the area improved this quarter. The number of homes for sale during the quarter increased 22.7% year over year and the number of homes sold during the quarter decreased by 12.5% to 21 homes. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.


The second quarter of 2017 saw the average Culver City single-family home price rise as compared to prices in Q2 of last year. An increase of 4.5% pushed the average sold price to $1,230,064 while the average price per square foot during that same timeframe increased by 7.6% to $803 per square foot from $747 per square foot in Q2 2016. Inventory in the area continues to remain low. The number of homes for sale during the quarter decreased 13.5% year over year and the number of homes sold during the quarter also decreased by 22.7% to 58 homes. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.


The second quarter of 2017 saw the average Playa Vista condo price rise as compared to prices in Q2 of last year. An increase of 15.2% pushed the average sold price to $1,120,210 while the average price per square foot during that same timeframe increased by 1.4% to $657 per square foot from $648 per square foot in Q2 2016. Inventory in the area improved dramatically this quarter. The number of condos for sale during the quarter increased 118.2% year over year and the number of condos sold during the quarter increased by 20% to 36 units. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.


The second quarter of 2017 saw the average Playa del Rey single-family home price rise as compared to prices in Q2 of last year. An increase of 29.4% pushed the average sold price to $1,911,867 while the average price per square foot during that same timeframe increased by 25.5% to $753 per square foot from $600 per square foot in Q2 2016. Inventory in the area continues to remain low. The number of homes for sale during the quarter decreased 14.3% year over year and the number of homes sold during the quarter increased by 41.7% to 17 homes. In economic news, the Federal Reserve, once again, raised short-term interest rates during the quarter though it did not have a large impact on long-term rates.

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