Homes in the Hollywood Riviera

What’s Happening in the Hollywood Riviera Real Estate Market

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.

Oceanfront homes on Paseo De La Playa in the Hollywood Riviera

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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7 Homes Sell in March in the Hollywood Riviera – Take a Look

March 2024 Real Estate Market Report for the Hollywood Riviera

7 Homes Sell at $2,184,171 average

The number of homes sold continued to trend upward as we head further into 2024 with 7 homes closing escrow during market.  There were only 5 sales in February and a paltry 3 in January.

Sold home prices continued to impress.  The average “list” price was $2,150,543 and the average sold price was $2,184,171 compared to $2,040,300 in February and $1,911,667 in January.

The average price per foot dropped a bit from February and was $982 compared to February’s  $1,064 per foot. 

The days on market for the homes that sold was 45 but median days on market was a brief 8.

See how this compares to other months on our Hollywood Riviera real estate trends and statistics page.

Luxury living rooms

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March 2024 Hollywood Riviera Home Sales and Prices

Type Address Price Beds/Baths Sq Feet Year
TWNHS 486 Palos Verdes BLVD $1,300,000 3/2,0,1,0 1577/A 1974/ASR
SFR/D 224 Via La Circula $1,784,200 3/1,1,0,0 1656/A 1948/ASR
SFR/D 409 Via La Selva $3,150,000 4/4,0,0,0 2724/A 1952/ASR
SFR/D 811 Calle de Arboles $3,775,000 4/4,0,0,1 3180/P 2021/BLD
SFR/D 4415 Newton ST $1,500,000 3/1,1,0,0 1384/A 1954/ASR
SFR/D 4303 Mesa ST $1,750,000 3/3,0,1,0 3155/A 1978/ASR
SFR/D 24863 Via Valmonte $2,030,000 3/2,0,0,0 2041/A 1966/OTH

Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Coastline in the Hollywood Riviera

7 Homes Sell in the Hollywood Riviera in December

December Hollywood Riviera Home Sales and Prices

7 homes sell at an average price of $1,903,429

December 2023 was a pretty solid month for home sales and home prices in the Hollywood Riviera of the South Bay.  It was slightly on the slow side but that’s to be expected in December which is traditionally the slowest month of the year.

The median “list” price was $1,933,000 with the average sold price at $1,903,429 which was much lower than the November average of $2,274,143 but that was an unusually high number.

The median price per foot was $1100 and median days on market a very short 24.

The top sale of the month was a extensively remodeled ocean view home at 49 Avenida Atezada with a little over 3,000 feet that sold for $3,150,000.

See how this compares to other months on our Hollywood Riviera real estate trends and statistics page.

Village Palos Verdes townhomes

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December 2023 Hollywood Riviera Home Sales and Prices

Home Type Address Price $ Per Sq Foot Bed/Bath Sq Feet Age
TWNHS/A 141 Calle Mayor $1,315,000 $846 2/2,0,1,0 1554/A 1974/ASR
SFR/D 228 Paseo De Granada $1,375,000 $1,101 2/1,0,0,0 1249/A 1948/PUB
SFR/D 608 Paseo De Los Reyes $2,000,000 $1,101 4/2,0,0,0 1817/A 1954/ASR
SFR/D 452 Via Los Miradores $2,050,000 $1,294 3/2,0,0,0 1584/A 1953/ASR
SFR/D 928 Calle Miramar $2,175,000 $1,263 3/2,0,0,0 1722/A 1948/ASR
SFR/D 349 Avenida Atezada $3,150,000 $1,033 4/4,0,1,0 3049/A 1954/ASR
SFR/D 5002 Newton ST $1,259,000 $1,066 3/1,0,1,0 1181/A 1954/ASR

Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

7 Home Sales in the Hollywood Riviera in July 2023

July 2023 Hollywood Riviera Real Estate Report

7 closed sales at $1,781,250 average price

The average “list” price was $2,018,000 with the average sold price at $1,972,000 which was considerably higher than the June average of $1,857,355 and $1,780,138 in May. So much for interest rates slowing the market.

The average price per foot was $960 and average days on market was an EXTREMELY brief 15 days before going into escrow.

The top sale of the months was $3,375,000 for a single family on Via La Selva. 

See how this compares to other months on our Hollywood Riviera real estate trends and statistics page.

Homes in the Hollywood Riviera

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July 2023 Hollywood Riviera Home Sales and Prices

Type Address Price $ Per Foot Bed/Bath Sq Feet Age
SFR/D 119 Calle De Andalucia $1,300,000 $1,098 3/1,1,0,0 1184/A 1948/ASR
SFR 265 Via Buena Ventura $1,680,000 $1,298 3/2,0,0,0 1294/ 1946
SFR/D 236 Calle De Andalucia $2,450,000 $1,007 4/1,2,0,0 2434/A 2011/SEE
SFR/D 524 Via La Selva $3,375,000 $1,055 4/4,0,1,0 3200/B 2016/SLR
SFR/D 4217 Paseo De Las Tortugas $1,350,000 $616 4/1,1,0,0 2191/A 1956/ASR
SFR/D 5114 Via El Sereno $1,560,000 $973 3/2,0,0,0 1603/A 1956/ASR
SFR/D 4511 Via Corona $2,089,000 $678 3/1,2,0,0 3083/A 1971/ASR

Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Hollywood Riviera real estate trends

Hollywood Riviera Real Estate Market Trends

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.

Active (light green), Pending (red line) and Sold Homes (dark green) each month in the Hollywood Riviera

Average Price Per Sq Feet of Sold Homes

Average days on market and % that homes sold compared with list price

Average list price and average sales price in the Hollywood Riviera

 

Months of available home inventory based on sales

 

The chart above shows the months of inventory on the market or how long it would take to sell all of the homes. The higher the number the more of a buyers market it tends to be.

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.

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Vista Sotheby's International

Vista Sotheby’s International Realty is one of the premier real estate firms in Southern California.  Visit our Riviera Village Office

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

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E-mail:

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Keith Kyle

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Homes in Hollywood Riviera. All rights reserved. The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. **This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

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