Westside Coastline

Westside Coastline
Westside Coastline

Tuesday, June 5, 2012

Pacific Palisades - Single Family Residence Sales and Listings - Year to Year Comparison - May 2012

Single Family Residence
Sales and Listings
in the Pacific Palisades
Year to Year Comparison
May, 2012

SINGLE FAMILY RESIDENCE

Sales are continuing to do well in the Pacific Palisades.  Sales of single family residences are off just a little bit in May over the same period last year.  One fewer home sold this year and average price per square foot is up slightly to $644 / foot.  New listings for Single Family Residences are similar as well except for a notable increase in listings of homes in the $10 Million or more category.  Last year there were no such listings in May and this May produced 5 listings above $10 Million with the highest listing being for $17.950 Million.  This, of course had a pretty significant impact driving up the average listing price by 35% to over $3.4 Million and increasing the listing price per square foot, by 18% to $911 per SF.  In both May periods, almost two homes were listed for every home sold.

Jim Rea, RealtorPacific Palisades
Keller Williams, Pacific PalisadesYear to Year Comparison (Sales)
(424) 354-0790May 2011 vs May 2012
jim@jimrea.com
Single Family Residence20112012Change% Change
Units Sold2524-1-4.00%
Total Sales Volume48,633,10044,730,156-3,902,944-8.03%
Average Sales Price1,945,3241,863,757-81,568-4.19%
Average Sales Price / SF620644243.94%
Average Days on Market777811.51%
Average Change - Orig. List Price to Sales Price-7.52%-4.48%
Units Sold by Price2011% of Units2012% of Units
Less than 1 Million14.00%28.33%
1 Million to 2 Million1560.00%1666.67%
2 Million to 5 Million832.00%520.83%
5 Million to 10 Million14.00%14.17%
!0 Million or More
  Total25100.00%24100.00%



Jim Rea, RealtorPacific Palisades
Keller Williams, Pacific PalisadesYear to Year Comparison (New Listings)
(424) 354-0790May 2011 vs May 2012
jim@jimrea.com
Single Family Residence20112012Change% Change
Units Listed555611.82%
Average Listing Price2,528,0733,416,170888,09735.13%
Average Listing Price / SF77191114018.20%
Units Listed by Price2011% of Units2012% of Units
Less than 1 Million610.91%35.36%
1 Million to 2 Million2545.45%2239.29%
2 Million to 5 Million1832.73%2239.29%
5 Million to 10 Million610.91%47.14%
!0 Million or More58.93%

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