I am excited to share with you the just released fourth quarter 2017 “Elliman Reports” for the Aspen/Snowmass, Los Angeles, Malibu/Malibu Beach and Venice/Mar Vista sales markets, the leading resource on the state of these markets. Our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and objective market insight available.
Aspen continues to show strength with more sales including additional activity at the higher end of the market. The pace of the luxury market moved much faster in the fourth quarter as inventory fell sharply. Snowmass Village saw a surge in the number of sales as listing inventory continued to decline.
The Greater Los Angeles market continues to be moving at a brisk pace, challenged by limited inventory. While the overall market is robust, there is some weakness at the high-end. However, like other luxury markets around the United States, luxury inventory that is over-priced has been exiting the market. Sales in Malibu rose sharply, overpowering supply and sales in Malibu Beach surged as the mix skewed to larger properties. The price trend indicators in our other submarket, Venice, were mixed as sales rose sharply. Mar Vista price trend indicators for both property types moved higher.
At Douglas Elliman, we are constantly looking for ways to provide our clients with better information, empowering them to make more informed decisions.
Our efforts to create this market report series reflect our strong belief that access to timely information is a vital resource in a market that is constantly changing. Committed to providing the best information in the industry, we are proud to offer this service to you and your clients.
CEO of Brokerage, Western Region
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