Los Angeles Quarterly Report – Q2 2020 | Tracey Hennessey

	TYPE	2019	2020	% CHANGE	2019	2020	% CHANGE	2019	2020	% CHANGE
Malibu	SPR CONDO	24 14	24 12	0.00% -14.30%	$2,773.634 $1,145.464	$3,696.417 $1,102.912	33.30% -3.70%	103 81	94 34	-8.70% -58.20%
Malibu Beach	SFR CONDO	9 3	12 4	33.30% 33.30%	$8,619.444 $817,000	$7,992.819 $1,472.475	1.30% 80.20%	109 24	88 131	-19.80% 451.60%
Marina Del Rey	SFR CONDO	25 78	11 37	-56.00% -52.60%	$1,555.172 $1,014.638	$1,530.741 $1,131.648	-1.60% 11.50%	44 44	50 33	12.80% -24.50%
Pacific Palisades	SFR CONDO	47 25	41 8	-12.80% -68.00%	$3,607.621 $1,088.680	$4,260.302 $1,257.062	18.10% 15.50%	47 28	44 31	7.30% 10.90%
Palms - Mar Vista	SFR CONDO	84 35	47 14	-44.00% -60.00%	$1,820.649 $719.474	$2,079.692 $742.579	14.20% 17.30%	42 37	23 32	-45.10% -14.10%
Santa Monica	SFR CONDO	52 65	29 64	-44.20% -1.50%	$3,424.276 $1,398.373	$3,273.253 $1,024.982	-4.40% -26.70%	59 45	39 30	-33.40% -33.60%
Venice	SFR CONDO	41 10	32 5	-22.00% -50.00%	$2,187.981 $1,496.415	$2,298.681 $1,636.000	5.10% 9.30%	39 48	41 41	4.90% -16.00%
Beverlywood	SFR CONDO	36 8	10 6	-72.20% -25.00%	$1,637.678 $835.375	$2,037.500 $876.250	24.40% 4.90%	43 22	38 47	-10.70% 116.60%
Brentwood	SFR CONDO	69 47	35 33	-49.30% -29.80%	$4,854.667 $1,000.657	$5,321.493 $1,123.070	9.60% 12.20%	68 36	40 31	-41.80% -13.00%
Cheviot Hills-Rancho Park	SFR CONDO	26 0	14 0	-46.20% NA	$2,403.784 NA	$2,519.349 NA	4.80% NA	57 NA	27 NA	-52.50% NA
West LA	SFR CONDO	32 37	12 15	-62.50% -59.50%	$1,508.312 $906.825	$1,320.625 $882.067	-12.40% -27.00%	67 31	23 32	-65.20% 5.20%
Westwood- Century City	SFR CONDO	53 119	13 61	-75.50% -48.70%	$2,427.693 $1,468.444	$2,587.330 $1,084.333	6.60% -26.20%	37 44	22 36	-39.10% -18.10%

As we continue to work through the challenges and impact of Covid-19, we are pleased to bring you the Compass 2020 Q2 Real Estate Market Report.

Sales activity and average sale price across LA Country reveal how Stay-at-Home orders disrupted the second-quarter market. Buyers pulled back while sellers continued to sit on the sidelines waiting for increased market activity. Condominium sales were sharply impacted in most areas as concerns about sharing public spaces, including elevators and swimming pools, escalated.

As uncertainty continued, overall sales activity fell 43 percent compared to last year in Los Angeles’ second quarter. That number is consistent around the area. The San Fernando Valley saw a 44 percent sales drop.

Sales in the Eastside/San Gabriel Valley fell 42 percent. Similar overall sales numbers tracked on the Westside with a 44 percent decline. Down in the South Bay, the sales activity decline was only slightly better at 39 percent compared to the second quarter of 2019.

Despite sales activity declines, Hermosa Beach, Rolling Hills Estates, Toluca Lake, Beverly Hills, Pacific Palisades, and Malibu saw double-digit increases in average single-family sale prices. This reflects the national trend in the current Covid-19 environment of buyers wanting single-family homes.

Days on market decreased significantly in many communities. This solid indicator shows that well-priced move-in ready properties sell quickly. This holds true when inventory is held off the market by reluctant sellers. Anticipate that additional inventory constraints due to Covid-19 will continue.

_{source: COMPASS | LOS ANGELES (MICRO) MARKET REPORT | Q2 2020}

Los Angeles Quarterly Report – Q2 2020

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