I am excited to share with you the just released fourth quarter 2016 “Elliman Reports” for Los Angeles, California and the two new submarket reports for Malibu/Malibu Beach and Venice/Mar Vista.
Our market reports are produced in conjunction with Miller Samuel to provide you and with the most comprehensive and objective market insight available.
Los Angeles, encompassing the greater LA area including Westside and Downtown, had multiple records set for single family and condo prices. The average sales price rose a record setting 10% and the median sales price increased as well. The luxury market slightly outperformed the overall market in price and lower inventory growth.
In the new reports released for the submarkets, Malibu/Malibu Beach had mixed price trends and a decline in sales. In Venice/Mar Vista, price trends for single family sales moved higher which in turn helped larger sized sales. The median sales price in Venice is almost twice as much as Manhattan.
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.
Thank you for helping to make 2016 so successful. I look forward to an even brighter 2017!
President and CEO
To explore Douglas Elliman's full slate of market reports covering Manhattan, Brooklyn, Queens, Northwest Queens, Riverdale, Long Island, The Hamptons, North Fork, Westchester, Putnam & Dutchess Counties, Fairfield County, Greenwich, Miami, Boca Raton, Fort Lauderdale, Palm Beach, Wellington, Delray Beach, Jupiter, Palm Beach Gardens, Los Angeles and Aspen, please visit the following link http://www.elliman.com/marketreports