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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.

June Home Sales and House Prices in the Hollywood Riviera

June 2020 Hollywood Riviera Home Sales and House Prices

June was another slower month for home sales in the community of Hollywood Riviera with only 6 closed sales during the month which was about average for 2020 but quite a bit lower than most months in 2019.  Prices were impressive with the median “list” price of $1,795,000 and a median “sold” price of $1,755,000. The average price per foot was $890.87 and the average days on market was 66.   The highest priced sale of the month was an oceanfront home on the bluff at 529 Paseo De La Playa which sold for $5,650,000.

June Home sales

 

MLS #Type AddresPrice$ Per FootBed/BathSq FeetYear
PV20003066SFR/D309Calle De Andalucia   $1,950,000$584.534/2,3,1,03336/A2006/OTH
SB20091568SFR/D341Calle Mayor   $2,351,000$867.214/2,0,1,02711/D1952/ASR
SB20112988SFR/D529Paseo De La Playa   $5,650,000$1,777.294/2,1,0,03179/A1962/PUB
PV20056037SFR/D4902Newton ST  $1,310,000$792.983/1,2,0,01652/S1954/ASR
SB20076571SFR/D4729Paseo de las Tortugas   $1,335,000$832.813/2,0,0,01603/A1956/ASR
PV20011613SFR/D24002Janet LN  $1,560,000$490.415/1,2,1,03181/D2016/SLR

April 2020 Home Sales and Home Prices in the Hollywood Riviera

By the numbers - home Sales and Home Prices in the Hollywood Riviera

The Hollywood Riviera real estate market slowed down a bit as most communities in the South Bay as the uncertainties of the coronavirus kept both buyers and sellers down a bit. 

Overall it was a fairly solid month in terms of home sales.  April 2020 saw 9 homes close escrow. The median list price of the sold homes in the Hollywood Riviera was $1,099,000 with the median “sold” price being $1,075,000 indicating it was still definitely a sellers market. The average price per foot was $761 and the average days on market was only 44.

Real Estate Recap- Hollywood riviera home sales in April 2020

Type
Address
Price
$ Per Foot
Bed/Bath
Sq Feet
Year Built
SFR/D
812
Calle de Arbboles
$965,000
$661.87
3/1,0,0,0
1458/A
1948/ASR
CONDO/A
125
Calle Mayor    #25
$1,050,000
$782.41
2/2,0,1,0
1342/A
1974/ASR
SFR/D
413
Calle De Castellana   
$1,600,000
$966.77
3/2,0,0,0
1655/B
1953/ASR
SFR/D
634
Camino D>e Encanto   
$1,689,000
$1,032.40
3/2,0,1,0
1636/A
1955/ASR
SFR/D
409
Via La Soledad   
$2,115,000
$989.24
3/2,0,0,0
2138/A
1954/ASR
SFR/D
4818
Greenmeadows AVE  
$950,000
$538.55
4/2,0,0,0
1764/A
1953/ASR
SFR/D
4709
Greenmeadows AVE  
$1,075,000
$614.99
3/1,1,0,0
1748/A
1953/ASR
SFR/D
5505
Riviera Way  
$2,225,000
$646.80
4/4,0,0,0
3440/B
2019/BLD
SFR/D
24707
Via Valmonte   
$928,000
$623.24
2/2,0,0,0
1489/P
1970/ASR

October 2019 Home Sales and Home Prices in the Hollywood Riviera

Hollywood Riviera real estate saw a solid month in real estate for October with 9 home sales during the month. The median list price was $1,200,000 with the median sales price of $1,177,500 indicating that it is still a solid seller’s market although that does seem to be shifting somewhat.  The least expensive home sale during October was $820,000 for a 3 bedroom, 2 1/2 bath single family home at 4414 Highgrove and the most expenseive sale of the month was a Louis Tomaro designed home at 340 Via Colusa.  This home was of particular interest to us as we were the listing agents when the sellers purchased the home.

View the current homes for sale in the Hollywood Riviera

Hollywood Riviera Home Sales in October

SB19185312 SFR/D 123 Via Anita    $1,350,000 $564.85 4/1,2,0,0 2390/A 1954/ASR 10/18/2019
SB19055980 SFR/D 143 Via Los Miradores    $1,500,000 $575.15 3/1,1,1,0 2608/A 1985/PUB 10/4/2019
SB19216324 SFR/D 423 Via San Sebastian    $1,600,000 $1,018.46 3/1,1,0,0 1571/A 1954/ASR 10/28/2019
PV19017943 SFR/D 340 Via Colusa    $1,840,000 $718.75 5/4,0,2,0 2560/A 2004/ASR 10/31/2019
SB19224613 SFR/D 4414 Highgrove    $820,000 $676.57 3/1,0,1,0 1212/A 1954/ASR 10/11/2019
IN19202984 SFR/D 4914 Pacific Coast    $850,000 $750.88 3/1,0,1,0 1132/A 1953/SEE 10/25/2019
SB19130538 SFR/D 3898 Newton ST   $965,000 $599.01 3/1,1,0,0 1611/A 1940/ASR 10/4/2019
PV19216333 SFR/D 23705 Susana AVE   $1,105,000 $865.99 3/1,0,1,0 1276/A 1954/ASR 10/22/2019
SB19177109 SFR/D 5002 Paseo De Las Tortugas    $1,177,500 $595.30 3/2,0,0,0 1978/A 1956/ASR 10/18/2019

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