Let's take a look at the current real estate market conditions
Whether you’re a home buyer or selling your home in the Hollywood Riviera, keeping up with the real estate market trends and statistics can be a great way to make an educated decision. Below is a series of charts showing what the real estate market in the Hollywood Riviera is doing each month.
Take a look below to see the number of active listings, pending home sales, closed sales, average home prices, months of inventory and more.
We hope that this will give you some good insight into where the market has been and where the real estate market is going.
The number of homes for sale, in escrow, and sold
The chart below shows how many homes are for sale, in escrow and have sold each month. The market has remained pretty consistent with about 7 homes selling a month on average. Other than the first month or two in both 2023 and 2024, when the market is historically the slowest, conditions have remained pretty consistent.
Average price per foot of sold homes in the Hollywood Riviera
The chart below shows the average $ per square feet of the homes that have sold each month in the Hollywood Riviera. We don’t love this metric for the neighborhood as homes are very different ranging from big ocean views to very original condition bungalows so one huge sale of an oceanfront property can make a big difference (see 8/23) When taken over time it’s a good indicator, however, of where prices are going.
Overall average price per foot has remained fairly steady for the past year.
Average days on market as well as the % of how close homes are selling to their original list price.
The chart below shows 2 things.
The orange bar graph shows the average days on market for the homes that have sold. As there are certain months with few home sales this number can be skewed but the very low number of the past 6 months indicates a very strong sellers market.
The second metric is the sale price percentage in relation to the list price. This charg shows that in general homes have been selling quickly and for full price and for the past few months has been trending up and homes are often selling over the list price.
Median home prices, average sales price and average sold price
Months of inventory on the market or how long it would take to sell all of the homes.
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