Year over Year Results are in for the Hollywood Riviera Real Estate Market 2010 – Numbers are officially in and it’s pretty much a ‘draw.’
2009 – A total of 76 Homes SOLD in the Hollywood Riviera
2010 – A total of 77 Homes SOLD in the Hollywood Riviera
2009 – Average Sales price of those 76 Homes Sold was $985,505 with the Average $ per Sq Ft = $485
2010 – Average Sales price of those 77 Homes Sold was $980,175 with the Average $ per Sq Ft – $492
Basically, the average sales price was off by less than 1% from last years figures and there was only 1 more home sold. When compared to the strong paced numbers from our first half of 2010, one can see there was a downslide in our momentum. The first half of 2010 showed a 38% increase in the number of homes sold over 1st half of 2009 numbers. Obviously the 2nd half of 2010’s sales pace was slower. Regardless, things didn’t give back too much.
2009’s least expensive home Sold in the Hollywood Riviera was $525,000 (on Pacific Coast Hwy) vs. 2010’s least expensive home Sold price of $579,000 (Pacific Coast Hwy.)
2009’s most expensive home Sold in the Hollywood Riviera was $2,160,000 (Paseo de la Concha) vs. 2010’s most expensive home Sold price of $2,675,000 (on Paseo de la Playa’s cliffs)
As far as 2011’s horizon we’ve got 11 homes currently “in escrow” or “pending sale.” That’s pretty good since there are only 14 houses for sale here in the Hollywood Riviera. It’s typical to have low inventory this time of year. Mid-February usually brings with it the influx of seller’s looking to be the first back on the market obtaining a jump-start for the spring market!