Monday February 21, 2011

Your Local Executive WEST HOLLYWOOD, CA

Summary Single Family Homes

This Week
Real-Time Market Profile Trend
Median List Price $ 2,720,000 ≠≠
Asking Price Per Square Foot $ 940 ==
The median list price in WEST HOLLYWOOD, CA 90069 - West Average Days on Market (DOM) 218 ==
Hollywood this week is $2,720,000.
Percent of Properties with Price Decrease 36 %
Percent Relisted (reset DOM) 17 %
Inventory and days-on-market are both trending higher recently.
However, the improving Market Action Index implies some Percent Flip (price increased) 0%
increased demand will temper the negative trends. Median House Size (sq ft) 2432
Median Lot Size 8,001 - 10,000 sqft
Median Number of Bedrooms 4.0
Median Number of Bathrooms 4.0

Supply and Demand Market Action Index Strong Buyer's 15.8 ==

Home sales have been exceeding new inventory for several weeks. ±+ No change == Strong upward trend ≠≠ Strong downward trend
However because of excess inventory, prices have not yet stopped
falling. Should the sales trend continue, expect prices to level off = Slight upward trend ≠ Slight downward trend
soon and potentially to resume their climb from there. Watch prices
as the market transitions from a Buyer's market to a Seller's market.

Price
Market Action Index This week prices in this zip code bumped up a bit but the trend
of recent weeks is generally downward. Keep an eye on the
Market Action Index for a leading indicator of the duration of
this downtrend.

Price Trends

7-Day Rolling Average 90-Day Rolling Average Buyer/Seller Cutoff

The Market Action Index answers the question "How's the

Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.

Quartiles
7-Day Rolling Average 90-Day Rolling Average

Characteristics per Quartile Investigate the market in quartiles -

where each quartile is 25% of homes
ordered by price.
Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
0.25 - 0.50
Top/First $ 7,495,000 6074 acre 5.0 6.5 51 27 3 1 293 Most expensive 25% of properties

8,001 -
Upper/Second $ 3,495,000 3205 10,000 sqft 4.0 4.0 56 27 0 1 194 Upper-middle 25% of properties

6,501 -
Lower/Third $ 2,072,500 2541 8,000 sqft 3.5 4.0 52 28 1 3 212 Lower-middle 25% of properties

6,501 -
Bottom/Fourth $ 1,297,000 1635 8,000 sqft 3.0 2.5 72 28 3 4 178 Least expensive 25% of properties

Pickford Escrow

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