Startling Westside Sales Statistics

The Westside has seen sales decline steadily since mid 2007 with sale prices staying fairly steady compared to most of Southern California. Unfortunately, sales activity since the beginning of the 4th quarter of 2008 is at historically low levels and a strong price drop will not be adverted, especially in areas priced well above conforming loan limits. The sales for the first two months of 2007 and 2008 are included to provide the contrast in markets. If you would like more detailed information, please contact me.

Thru March 1, 2009:

Santa Monica:
Single Family Residences (SFR): 111 Active; 12 In Escrow; Sold= 9 (Down 79.6% from 2007 )
*Highest Sale: 3.7 million and the only sale over 3 million!
Number of Sales in the first 2 months of 2008: 33
Number of Sales in the first 2 months of 2007: 44

Beverly Hills:
SFR: 121 Active; 8 In Escrow; Sold=7 (Down 80.6% from 2007)
*Highest Sale: 8 million with 2 other over 3 million.
Number of Sales in the first 2 months of 2008: 23
Number of Sales in the first 2 months of 2007: 36

Pacific Palisades:
SFR: 193 Active; 14 In Escrow; Sold= 14 (Down 70.9% from 2007)
*Highest Sale: 14.5 million w/ 4 other sales over 3 million.
Number of Sales in the first 2 months of 2008: 45
Number of Sales in the first 2 months of 2007: 48

Malibu Beach:
SFR: 70 Active; 1 In Escrow; Sold=6 (Down 77% from 2007)
*Highest Sale: 14.6 million; next highest 4.6 with three over 3 million.
Number of Sales in the first 2 months of 2008: 5
Number of Sales in the first 2 months of 2007: 26

Brentwood:
SFR: 160 Active; 17 In Escrow; Sold=16 (Down 55% from 2007)
*Highest Sale: 13.5 million w/ 7 selling for more than 3million.
Number of Sales in the first 2 months of 2008: 32
Number of Sales in the first 2 months of 2007: 35

Beverly Hills Post Office:
SFR: 146 Active; 13 In Escrow; Sold= 6 (Down 66.6% from 2007)
*Highest Sale: 3.7 million w/ 1 other over 3 million.
Number of Sales in the first 2 months of 2008: 16
Number of Sales in the first 2 months of 2007: 18

Malibu:
SFR: 271 Active; 24 In Escrow: Sold= 8 (Down 70% from 2007)
*3 sales in the 3 million in range. Lowest was 1.6 million
Number of Sales in the first 2 months of 2008: 15
Number of Sales in the first 2 months of 2007: 26
Less pricier areas of the Westside:

Mar Vista:
SFR: 80 Active; 26 In Escrow; Sold= 21 (Down 59% from 2007)
*Highest sale 1.7 million w/ 3 over 1 million and one over 750K.
Number of Sales in the first 2 months of 2008: 43
Number of Sales in the first 2 months of 2007: 51

Culver City:
SFR: 46 Active; 25 In Escrow; Sold= 14 (Down 50% from 2007)
*3 sales over 750 K w/ highest at 850K.
Number of Sales in the first 2 months of 2008: 27
Number of Sales in the first 2 months of 2007: 28

Westchester:
SFR: 62 Active; 23 In Escrow; Sold= 20 (Down 52.4% from 2007)
*3 sales over 750K w/ over 1 million.
Number of Sales in the first 2 months of 2008: 30
Number of Sales in the first 2 months of 2007: 42