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LA Westside Homes First Quarter Analysis

by Craig Whitlock

 

The MLS has released comparative data for the first quarter of this and the two preceding years for SFR homes in the broader market extending from Downtown to Santa Monica.  Property Median Price, Dollar Sales Volume and the number of transactions are examined here and present some interesting observations.

 

LA Westside Homes First Quarter 2011 Analysis

The 54% increase in Median Price from two years ago suggests that buyers are purchasing less distressed properties (Real Estate Owned or REOs which are mistakenly referred to as Foreclosures) and more Standard Sale (non-distress) listings.  This data should not be interpreted that home values have necessarily enjoyed a boost and in fact, the most recent Case-Shiller index of home values shows a February to March decline of 2.1% for the greater Los Angeles area.

You should bear in mind that real estate is hyper-local and each Westside micro-market (Beverly Hills, Brentwood, Santa Monica, etc.) is unique (especially when compared to the greater Los Angeles area) and should be examined individually when forming an opinion on when to buy and pricing. 

That information is always available to you in the Market Sales Data section.  If you have any questions or would like to discuss this at greater length just drop me a note - I'm always here to help.

Mountain Lion Sighting In Pacific Palisades Highlands

by Craig Whitlock
 

 

 This is a community alert bulletin issued by the Brentwood Community Council:

Brentwood Community Council

 

Mountain Lion Sighting

Hello All,

While preparing to go off-duty on Sunday night at approximately 2146 hours at our shift change location at 1200 Palisades Drive, Officer Lovo and myself observed a large adult mountain lion, approximately 130-140 lbs., with a 3-3 1/2 foot tail, run down the common area hillside (from the rear yards off of Calle de Sevilla) clear the five foot cinder block wall with ease and trot across all lanes of Palisades Drive, clear a second five foot wall and into the brush just south of the access road to the Santa Yenz Canyon Park. The cat emerged once again on top of the flood basin and walked down the embankment and out of sight into the brush headed West into the flood channel toward the hillside.

As someone who has worked in the Highlands for nearly 10 years now at all times of the day and night, I have never observed this type of activity or actually witnessed a mountain lion first hand. I believe this behavior in such a well lit and noisy area is quite uncommon for this type of cat. I will be notifying the State Park Rangers this afternoon and seeking guidance on who else would be notified. I will put together a bulletin for distribution to the homes around the area where the cat was sighted and post the same information at the entrance to the Santa Yenz Canyon Park.

Please get this information out to as many residents in the area as possible as I know that particular trail is highly traveled by many of our residents, and often times with dogs. I will include safety tips in the bulle tin and try to get it out this evening as well as having the Officers distribute verbal warnings to any hikers or dog walkers entering the area. Feel free to contact me directly if you have any suggestions or want more information.

Have a Great Day,  

Sgt. Aaron Sias

Team Manager

Palisdades Highlands

ADT/Bel Air Patrol

Tel:  310-619-2311

 

Traffic Headaches Set For Tomorrow In LA Westside

by Craig Whitlock

President Obama will be here on the Westside tomorrow afternoon beginning with a visit to Sony Studios in Culver City at 4:30PM for a fundraising event and then over to The Tavern (San Vicente at Darlington) in Brentwood for dinner, which should hamstring traffic well into the evening.  Plan accordingly!

LA Westside Sales Highlights - March 2011

by Craig Whitlock

This report will provide a quick overview as to how the Westside micro-markets are currently performing and then compares that data to the same period a year ago.  The key market indicators are:

Pending Sales Activity - sometimes referred to as the 'Number of Properties Under Contract'.  This is a forward-looking indicator of current sales activity where there has been an accepted offer and escrow has opened.

Median Sales Price - that point at which half of the properties have sold for a greater amount and half have sold for a lesser amount.  This indicator pinpoints where in the price spectrum homes have sold rather than reflecting a drop in home value.  There is a common mis-perception that a drop in the MSP directly indicates a drop in home value.  It is far more likely that the drop indicates either smaller, older and/or homes in lower-priced areas have sold during the period.

Months Supply of Inventory (MSI) - a leading indicator of market supply, which directly impacts pricing.  Generally, a five to six month supply indicates market equilibrium while anything less signals a 'seller's market' and anything above a 'buyer's market'.  

LA Westside Homes For Sale - Sales Highlights Chart - March 2011

LA Westside Homes For Sale - Year-to-Year Analysis Chart - March 2011   Information not guaranteed.  © 2009 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors)

To view a portfolio of four additional reports trended over the past 12 months:  Properties For Sale, Days On Market, New Properties For Sale and Supply & Demand, visit the Market Sales Data section.  If you have any questions or would like to discuss this data at greater length, just drop me a note or call.

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Craig Whitlock
COLDWELL BANKER BRENTWOOD
11661 San Vicente Blvd., 10th Floor
Los Angeles CA 90049
Mobile: (310) 488-4399
Fax: (310) 820-1457

Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of properties provided by the seller or obtained from Public Records or other sources as presented in this website.  Interested parties are advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals.  Information herein deemed reliable but not guaranteed.

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