{"id":46291,"date":"2016-03-17T05:00:09","date_gmt":"2016-03-17T12:00:09","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=46291"},"modified":"2020-10-05T16:22:54","modified_gmt":"2020-10-05T23:22:54","slug":"feb-los-angeles-housing-market-tracker","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/feb-los-angeles-housing-market-tracker\/","title":{"rendered":"L.A. Home Prices and Inventory Jump in February"},"content":{"rendered":"

Los Angeles home prices continued their upward climb, gaining 14.6 percent in February from a year earlier, to a median sale price of $590,000. This marks the fourth-straight month of annual gains and is the strongest growth L.A. has seen since May of 2014. Home sales dipped slightly, declining 2.5 percent.<\/span><\/p>\n

\"LA<\/figure>\n

The number of homes for sale increased 10.3 percent from the same time last year, thanks to a healthy batch of new listings added to the market in February, a 9 percent boost from a year earlier.<\/span><\/p>\n

\"LA<\/figure>\n

\u201cWe are definitely feeling the bump in new listings on the Westside,\u201d Redfin <\/span>real estate agent<\/span><\/a> Isabel Velez said. \u201cI\u2019m working with several sellers who have built up equity on their starter homes and are in a position to upgrade. Many of them want to make the move now because they are finally satisfied with how much they can sell their current home for.\u201d <\/span><\/p>\n

All else equal, this recent increase in supply would ease competition for homebuyers. Although they had more choices last month, even a double-digit increase in homes for sale wasn\u2019t enough to cool competition for desirable houses in hot neighborhoods.<\/span><\/p>\n

\"LA<\/figure>\n

Area Trends and Hot Neighborhoods<\/h3>\n

Seller confidence on <\/span>the Westside<\/span><\/a> was evident in the spike in asking prices last month — up 25 percent from a year earlier to a median of nearly $1.5 million.<\/span><\/p>\n

The Eastside<\/span><\/a> remained the most competitive market in L.A. The median sale price for Eastside homes jumped 20 percent, surpassing $625,000. Nearly 50 percent of homes sold on the Eastside went for more than the asking price.<\/span><\/p>\n

Mount Washington<\/span><\/a> was still the neighborhood to watch. The median sale price there grew 19.2 percent to $790,000 and the average home sold for 6.5 percent above asking price, the highest <\/span>sale-to-list ratio<\/span><\/a> of all the neighborhoods we track. It was also one of the fastest markets in L.A., with the typical home selling in less than two weeks. <\/span><\/p>\n

A robust investor market of flips — quick, for-profit sales — was one reason for the ballooning prices in Mount Washington. In 2015, the average flip in Mount Washington had a gain of $312,000, according to a <\/span>recent Redfin report<\/span><\/a>. <\/span><\/p>\n

Here\u2019s what\u2019s happening in your neighborhood:<\/span><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Neighborhood<\/th>\nMedian Sale Price<\/th>\nYear-Over-Year<\/th>\nHomes Sold<\/th>\nYear-Over-Year<\/th>\nInventory<\/th>\nYear-Over-Year<\/th>\nNew Listings<\/th>\nMedian Days on Market<\/th>\nAvg Sale-to-List<\/th>\n<\/tr>\n<\/thead>\n
Beverly Glen<\/a><\/td>\n$2,300,000<\/td>\n83.3%<\/td>\n13<\/td>\n0.0%<\/td>\n23<\/td>\n-8.0%<\/td>\n29<\/td>\n44<\/td>\n97.5%<\/td>\n<\/tr>\n
Beverly Hills Post Office<\/a><\/td>\n$2,191,250<\/td>\n34.4%<\/td>\n32<\/td>\n-20.0%<\/td>\n76<\/td>\n-2.6%<\/td>\n86<\/td>\n40<\/td>\n97.8%<\/td>\n<\/tr>\n
Brentwood<\/a><\/td>\n$1,300,000<\/td>\n-19.4%<\/td>\n104<\/td>\n10.6%<\/td>\n114<\/td>\n42.5%<\/td>\n144<\/td>\n35<\/td>\n98.4%<\/td>\n<\/tr>\n
Central LA<\/a><\/td>\n$870,000<\/td>\n10.3%<\/td>\n715<\/td>\n-3.8%<\/td>\n823<\/td>\n8.4%<\/td>\n1,176<\/td>\n34<\/td>\n98.4%<\/td>\n<\/tr>\n
Century City<\/a><\/td>\n$1,050,500<\/td>\n23.6%<\/td>\n75<\/td>\n2.7%<\/td>\n74<\/td>\n12.1%<\/td>\n113<\/td>\n39<\/td>\n99.2%<\/td>\n<\/tr>\n
Chatsworth<\/a><\/td>\n$487,500<\/td>\n-1.5%<\/td>\n78<\/td>\n-29.7%<\/td>\n80<\/td>\n31.1%<\/td>\n134<\/td>\n17<\/td>\n98.5%<\/td>\n<\/tr>\n
Cheviot Hills<\/a><\/td>\n$1,541,416<\/td>\n-4.9%<\/td>\n18<\/td>\n-14.3%<\/td>\n15<\/td>\n114.3%<\/td>\n29<\/td>\n15<\/td>\n97.8%<\/td>\n<\/tr>\n
Crenshaw<\/a><\/td>\n$628,125<\/td>\n66.8%<\/td>\n46<\/td>\n64.3%<\/td>\n13<\/td>\n-18.8%<\/td>\n40<\/td>\n20<\/td>\n100.8%<\/td>\n<\/tr>\n
Eagle Rock<\/a><\/td>\n$705,000<\/td>\n15.1%<\/td>\n54<\/td>\n63.6%<\/td>\n34<\/td>\n-10.5%<\/td>\n61<\/td>\n16<\/td>\n102.9%<\/td>\n<\/tr>\n
East LA<\/a><\/td>\n$625,500<\/td>\n20.3%<\/td>\n500<\/td>\n3.3%<\/td>\n410<\/td>\n8.8%<\/td>\n716<\/td>\n21<\/td>\n101.7%<\/td>\n<\/tr>\n
Encino<\/a><\/td>\n$739,000<\/td>\n5.6%<\/td>\n157<\/td>\n1.3%<\/td>\n141<\/td>\n-2.1%<\/td>\n212<\/td>\n20<\/td>\n99.1%<\/td>\n<\/tr>\n
Fox Hills<\/a><\/td>\n$415,000<\/td>\n-0.4%<\/td>\n21<\/td>\n-25.0%<\/td>\n4<\/td>\n-66.7%<\/td>\n12<\/td>\n21<\/td>\n99.8%<\/td>\n<\/tr>\n
Glassell Park<\/a><\/td>\n$622,500<\/td>\n17.2%<\/td>\n31<\/td>\n0.0%<\/td>\n22<\/td>\n-37.1%<\/td>\n38<\/td>\n25<\/td>\n99.7%<\/td>\n<\/tr>\n
Greater Echo Park Elysian<\/a><\/td>\n$870,000<\/td>\n15.2%<\/td>\n59<\/td>\n47.5%<\/td>\n52<\/td>\n23.8%<\/td>\n86<\/td>\n34<\/td>\n101.5%<\/td>\n<\/tr>\n
Hancock Park<\/a><\/td>\n$500,000<\/td>\n-68.8%<\/td>\n11<\/td>\n-31.3%<\/td>\n23<\/td>\n76.9%<\/td>\n36<\/td>\n16<\/td>\n98.3%<\/td>\n<\/tr>\n
Highland Park<\/a><\/td>\n$595,000<\/td>\n2.1%<\/td>\n64<\/td>\n-30.4%<\/td>\n57<\/td>\n11.8%<\/td>\n101<\/td>\n18<\/td>\n101.4%<\/td>\n<\/tr>\n
Hollywood<\/a><\/td>\n$771,250<\/td>\n6.4%<\/td>\n66<\/td>\n22.2%<\/td>\n75<\/td>\n21.0%<\/td>\n112<\/td>\n34<\/td>\n98.0%<\/td>\n<\/tr>\n
Hollywood Hills West<\/a><\/td>\n$1,157,500<\/td>\n0.7%<\/td>\n90<\/td>\n12.5%<\/td>\n114<\/td>\n-9.5%<\/td>\n154<\/td>\n44<\/td>\n98.0%<\/td>\n<\/tr>\n
Holmby Hills<\/a><\/td>\n$1,024,812<\/td>\n-63.4%<\/td>\n6<\/td>\n-14.3%<\/td>\n15<\/td>\n66.7%<\/td>\n16<\/td>\n37<\/td>\n93.3%<\/td>\n<\/tr>\n
Lake Balboa<\/a><\/td>\n$487,500<\/td>\n11.2%<\/td>\n67<\/td>\n-18.3%<\/td>\n44<\/td>\n-6.4%<\/td>\n89<\/td>\n14<\/td>\n100.1%<\/td>\n<\/tr>\n
Marina del Rey<\/a><\/td>\n$814,000<\/td>\n2.7%<\/td>\n81<\/td>\n6.6%<\/td>\n51<\/td>\n-3.8%<\/td>\n80<\/td>\n28<\/td>\n98.9%<\/td>\n<\/tr>\n
Mid-City<\/a><\/td>\n$815,000<\/td>\n7.2%<\/td>\n111<\/td>\n-9.8%<\/td>\n112<\/td>\n-0.9%<\/td>\n174<\/td>\n28<\/td>\n99.2%<\/td>\n<\/tr>\n
Mount Washington<\/a><\/td>\n$790,000<\/td>\n19.2%<\/td>\n22<\/td>\n-15.4%<\/td>\n21<\/td>\n110.0%<\/td>\n33<\/td>\n13<\/td>\n106.5%<\/td>\n<\/tr>\n
North Hollywood<\/a><\/td>\n$472,000<\/td>\n7.5%<\/td>\n120<\/td>\n-1.6%<\/td>\n112<\/td>\n16.7%<\/td>\n191<\/td>\n24<\/td>\n98.9%<\/td>\n<\/tr>\n
Northwest San Pedro<\/a><\/td>\n$489,000<\/td>\n15.1%<\/td>\n67<\/td>\n17.5%<\/td>\n58<\/td>\n13.7%<\/td>\n78<\/td>\n27<\/td>\n98.6%<\/td>\n<\/tr>\n
North Valley<\/a><\/td>\n$458,300<\/td>\n7.8%<\/td>\n473<\/td>\n7.0%<\/td>\n339<\/td>\n11.1%<\/td>\n647<\/td>\n18<\/td>\n100.0%<\/td>\n<\/tr>\n
Pacoima<\/a><\/td>\n$343,500<\/td>\n4.1%<\/td>\n66<\/td>\n10.0%<\/td>\n40<\/td>\n21.2%<\/td>\n101<\/td>\n8<\/td>\n100.3%<\/td>\n<\/tr>\n
Panorama City<\/a><\/td>\n$385,375<\/td>\n7.0%<\/td>\n70<\/td>\n-22.2%<\/td>\n61<\/td>\n17.3%<\/td>\n121<\/td>\n18<\/td>\n101.8%<\/td>\n<\/tr>\n
Sherman Oaks<\/a><\/td>\n$810,000<\/td>\n25.6%<\/td>\n181<\/td>\n-10.8%<\/td>\n188<\/td>\n28.8%<\/td>\n270<\/td>\n25<\/td>\n98.7%<\/td>\n<\/tr>\n
Silver Lake<\/a><\/td>\n$960,000<\/td>\n6.4%<\/td>\n55<\/td>\n22.2%<\/td>\n39<\/td>\n18.2%<\/td>\n63<\/td>\n19<\/td>\n101.8%<\/td>\n<\/tr>\n
South LA<\/a><\/td>\n$385,000<\/td>\n13.2%<\/td>\n815<\/td>\n13.7%<\/td>\n770<\/td>\n-5.5%<\/td>\n1,264<\/td>\n25<\/td>\n99.7%<\/td>\n<\/tr>\n
South Valley<\/a><\/td>\n$540,000<\/td>\n8.2%<\/td>\n1,300<\/td>\n-6.0%<\/td>\n1,194<\/td>\n16.9%<\/td>\n1,895<\/td>\n23<\/td>\n98.9%<\/td>\n<\/tr>\n
Studio City<\/a><\/td>\n$888,250<\/td>\n26.9%<\/td>\n134<\/td>\n22.9%<\/td>\n140<\/td>\n34.6%<\/td>\n183<\/td>\n28<\/td>\n98.7%<\/td>\n<\/tr>\n
Sun Valley<\/a><\/td>\n$440,000<\/td>\n11.4%<\/td>\n70<\/td>\n4.5%<\/td>\n46<\/td>\n7.0%<\/td>\n84<\/td>\n15<\/td>\n98.9%<\/td>\n<\/tr>\n
Sylmar<\/a><\/td>\n$400,000<\/td>\n9.6%<\/td>\n119<\/td>\n4.4%<\/td>\n93<\/td>\n25.7%<\/td>\n186<\/td>\n20<\/td>\n99.2%<\/td>\n<\/tr>\n
Tarzana<\/a><\/td>\n$590,000<\/td>\n3.7%<\/td>\n116<\/td>\n22.1%<\/td>\n105<\/td>\n9.4%<\/td>\n162<\/td>\n22<\/td>\n98.2%<\/td>\n<\/tr>\n
Valley Village<\/a><\/td>\n$687,500<\/td>\n6.2%<\/td>\n44<\/td>\n-15.4%<\/td>\n36<\/td>\n56.5%<\/td>\n56<\/td>\n27<\/td>\n99.1%<\/td>\n<\/tr>\n
Van Nuys<\/a><\/td>\n$479,450<\/td>\n12.8%<\/td>\n83<\/td>\n-25.2%<\/td>\n91<\/td>\n7.1%<\/td>\n142<\/td>\n24<\/td>\n98.7%<\/td>\n<\/tr>\n
Venice<\/a><\/td>\n$1,628,500<\/td>\n13.3%<\/td>\n75<\/td>\n-16.7%<\/td>\n109<\/td>\n19.8%<\/td>\n132<\/td>\n30<\/td>\n98.8%<\/td>\n<\/tr>\n
Watts<\/a><\/td>\n$280,000<\/td>\n17.6%<\/td>\n67<\/td>\n9.8%<\/td>\n68<\/td>\n23.6%<\/td>\n106<\/td>\n32<\/td>\n98.5%<\/td>\n<\/tr>\n
West Adams<\/a><\/td>\n$510,000<\/td>\n17.2%<\/td>\n38<\/td>\n2.7%<\/td>\n18<\/td>\n-35.7%<\/td>\n44<\/td>\n14<\/td>\n102.3%<\/td>\n<\/tr>\n
West Long Beach<\/a><\/td>\n$374,000<\/td>\n12.0%<\/td>\n31<\/td>\n-6.1%<\/td>\n26<\/td>\n-10.3%<\/td>\n42<\/td>\n44<\/td>\n99.6%<\/td>\n<\/tr>\n
West Los Angeles<\/a><\/td>\n$1,135,000<\/td>\n13.6%<\/td>\n1,257<\/td>\n-1.3%<\/td>\n1,209<\/td>\n9.0%<\/td>\n1,790<\/td>\n27<\/td>\n98.8%<\/td>\n<\/tr>\n
Westwood<\/a><\/td>\n$885,000<\/td>\n-1.1%<\/td>\n75<\/td>\n2.7%<\/td>\n109<\/td>\n13.5%<\/td>\n154<\/td>\n42<\/td>\n96.4%<\/td>\n<\/tr>\n
Woodland Hills<\/a><\/td>\n$683,000<\/td>\n6.3%<\/td>\n173<\/td>\n0.6%<\/td>\n181<\/td>\n27.5%<\/td>\n275<\/td>\n24<\/td>\n98.5%<\/td>\n<\/tr>\n
Los Angeles, CA<\/b><\/td>\n$590,000<\/b><\/td>\n14.6%<\/b><\/td>\n1,717<\/b><\/td>\n-2.5%<\/b><\/td>\n5,579<\/b><\/td>\n10.3%<\/b><\/td>\n3,616<\/b><\/td>\n28<\/b><\/td>\n99.5%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

See Redfin\u2019s<\/span> data center<\/span><\/a> to find out what\u2019s happening in other cities.<\/span><\/p>\n

NOTE: Not all neighborhoods are listed, but totals for L.A. encompass entire city. Data is based on listing information and might not reflect all real estate activity in the market. Neighborhood-specific data is measured over the three months ended Feb 29. Inventory measures listings active as of Feb 29. <\/span><\/p>\n

For more information, contact Redfin journalist services<\/span><\/p>\n

Phone<\/strong>: 206-588-6863
\n<\/span>Email<\/strong>: press@redfin.com<\/span><\/p>\n

Want to receive reports like this every month? <\/span>Click here<\/a><\/span> to be added to our distribution list.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Sellers on the Westside are bullish this spring; competition is high on the Eastside.<\/p>\n","protected":false},"author":13253,"featured_media":53489,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[32,68],"coauthors":[],"class_list":["post-46291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional-trends","tag-housing-market-tracker","tag-local"],"acf":[],"yoast_head":"\nL.A. Home Prices and Inventory Jump in February - Redfin Real Estate News<\/title>\n<meta name=\"description\" content=\"L.A. home prices continued their upward climb, gaining 14.6 percent in February from a year earlier, to a median sale price of $590,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/feb-los-angeles-housing-market-tracker\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L.A. Home Prices and Inventory Jump in February\" \/>\n<meta property=\"og:description\" content=\"L.A. home prices continued their upward climb, gaining 14.6 percent in February from a year earlier, to a median sale price of $590,000.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/feb-los-angeles-housing-market-tracker\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-17T12:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-05T23:22:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2016\/09\/Los-Angeles-Market-Tracker-NEW.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"715\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeffery Marino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeffery Marino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/feb-los-angeles-housing-market-tracker\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/feb-los-angeles-housing-market-tracker\\\/\"},\"author\":{\"name\":\"Jeffery Marino\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/522a55326f03bc6c4edeae22675af625\"},\"headline\":\"L.A. 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