Monday May 16, 2011

Your Local Executive WEST HOLLYWOOD, CA

Summary Single Family Homes

This Week
Real-Time Market Profile Trend
Median List Price $ 2,495,000 ==
Asking Price Per Square Foot $ 761 ±+
The median list price in WEST HOLLYWOOD, CA 90069 - West Average Days on Market (DOM) 198 ≠≠
Hollywood this week is $2,495,000.
Percent of Properties with Price Decrease 33 %
Percent Relisted (reset DOM) 62 %
Inventory is tightening and days-on-market is falling. But demand
as measured by the Market Action Index is also trending down. The Percent Flip (price increased) 4%
market is not giving strong up or down signals from these data. Median House Size (sq ft) 3000
Median Lot Size 8,001 - 10,000 sqft
Median Number of Bedrooms 3.0
Median Number of Bathrooms 3.5

Supply and Demand Market Action Index Strong Buyer's 17.1 ≠≠

In terms of supply and demand, the market is getting cooler - more ±+ No change == Strong upward trend ≠≠ Strong downward trend
supply is coming on the market relative to the sales demand.
However, in recent weeks prices have been moving higher. Since it is = Slight upward trend ≠ Slight downward trend
technically a Buyer's market, this price trend may be a result of
improved quality (newer, larger homes) of the homes being listed.
Look at the descriptive statistics where you may notice the homes
being listed are larger and younger than they have been in the past. Price
Market Action Index In this zip code this week saw relatively little price change from
last week. However, we continue to demonstrate a nice up trend
in general over the last several weeks.

Price Trends

7-Day Rolling Average 90-Day Rolling Average Buyer/Seller Cutoff

The Market Action Index answers the question "How's the

Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.

Quartiles
7-Day Rolling Average 90-Day Rolling Average

Characteristics per Quartile Investigate the market in quartiles -

where each quartile is 25% of homes
ordered by price.
Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
0.25 - 0.50
Top/First $ 6,975,000 6261 acre 4.0 5.5 45 29 0 0 259 Most expensive 25% of properties

8,001 -
Upper/Second $ 3,200,000 3718 10,000 sqft 3.0 4.0 52 29 0 0 220 Upper-middle 25% of properties

8,001 -
Lower/Third $ 1,895,000 2717 10,000 sqft 3.0 3.5 58 29 3 2 171 Lower-middle 25% of properties

4,501 -
Bottom/Fourth $ 962,000 1718 6,500 sqft 3.0 3.0 71 30 3 2 143 Least expensive 25% of properties

Pickford Escrow

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