Category: Hollywood riviera houses for sale
See the Hollywood Riviera Homes that Sold in November
It was another solid month for real estate in the Hollywood Riviera both in terms of the number of homes that closed escrow as well as the prices. November 2021 had 12 on market home, condo and townhome sales closing during the month. The average “list” price of the homes that closed escrow during the month was $2,614,333 with the average “sold” price at $2,211,313*(see below). Homes averaged 70 days on the market before going into escrow with a median DOM of only 12 days. The average price per foot of the hmomes that sod was $990.
*The numbers this month were very skewed by the sale of 425 Paseo De La Playa. The home sold for $6,900,000 but was listed at $12,000,000 so dramatically impacted the % of list price v sold price as well as days on market as it had been on the market for 667 days. See how this one home impacted the numbers
Search the current homes for sale in the Hollywood Riviera
Hollywood Riviera Home Sales and Prices for November 2021
Type | Address | Price | $ Per Foot | Bed/Bath | Sq Feet | Year | Sold Date | |
CONDO/A | 201 | Calle Miramar #16 | $820,000 | $891.30 | 1/1,0,0,0 | 920/A | 1962/ASR | 11/19/2021 |
TWNHS/A | 64 | Palos Verdes BLVD | $1,075,000 | $671.88 | 2/2,0,1,0 | 1600/A | 2006/ASR | 11/3/2021 |
SFR/D | 142 | Via Alameda | $2,250,000 | $1,111.11 | 3/2,0,1,0 | 2025/A | 1948/ASR | 11/19/2021 |
SFR/D | 444 | Calle De Castellana | $2,400,000 | $801.34 | 4/4,0,0,0 | 2995/A | 1952/APP | 11/3/2021 |
SFR/D | 232 | Via Los Miradores | $2,650,000 | $1,280.19 | 3/1,2,1,0 | 2070/B | 1953/ASR | 11/29/2021 |
SFR/D | 425 | Paseo De La Playa | $6,900,000 | $2,485.59 | 3/4,0,0,0 | 2776/A | 1972/ASR | 11/10/2021 |
SFR/D | 4106 | Via Lado | $1,210,000 | $798.15 | 3/2,0,0,0 | 1516/A | 1958/PUB | 11/12/2021 |
SFR/D | 24859 | Via Valmonte | $1,320,000 | $750.00 | 3/2,0,0,0 | 1760/A | 1968/PUB | 11/23/2021 |
SFR | 5001 | Paseo De Las Tortugas | $1,855,750 | $593.65 | 4/4,0,0,0 | 3126/AP | 1956/ASR | 11/18/2021 |
SFR/D | 4508 | Newton ST | $1,960,000 | $996.95 | 3/2,0,0,0 | 1966/A | 1954/ASR | 11/22/2021 |
SFR/D | 4117 | Paseo De Las Tortugas | $2,000,000 | $902.12 | 3/1,1,1,0 | 2217/A | 1968/ASR | 11/10/2021 |
SFR/D | 4222 | Paseo De Las Tortugas | $2,095,000 | $607.25 | 4/2,1,0,0 | 3450/S | 1991/SLR | 11/19/2021 |
Why You Can’t Always Trust the Numbers – See How One Sale Impacted the Market
We recently posted about the home prices for November in the Hollywood Riviera. Two key metrics we’ve been following is whether homes are selling for under or over the list prices and also how long homes are sitting on the market.
Decisions can be made from these numbers….what’s the market doing, where’s it heading….is it a buyer’s market or seller’s market?
Sometimes one or two sales in a month can dramatically skew these number’s however, and don’t paint an accurate picture of market conditions.
The Hollywood Riviera in November was a perfect example. Unlike recent months the average “sold” prices were actually lower than the “list” price. Average days on market was also 70 for the homes that sold which is well higher than previous months. Both potentially indicate that the market may be slowing.
The reality, however, is that one sale completely changed the numbers. The oceanfront home at 425 Paseo De La Playa finally sold after 667 days on the market. The home was listed at $12,000,000 and closed at $6,900,000.
So overall for November the average “list” price was $2,614,333 with the average “sold” price at $2,211,313. That’s a big change from the past 6 months which generally saw homes selling for more than the asking price every month.
If you eliminate that one sale it changes the outlook considerably. For the other 11 home sales of the month the average “list” price was $1,761,091 with the average “sold” price at $1,785,068 meaning homes sold well over list price.
Eliminate the one sale and average goes from 70 to only 15 days on market. For those looking at the overall numbers they might have been hoping the market was shifting to benefit buyers but unfortunately the reality is a bit different and sometimes you need to dig a bit deeper to see what is really happening in your real estate market.