Median Sale Price Reaches 8-Year High in Los Angeles County

Median Sale Price Reaches 8-Year High in Los Angeles County

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The median sale price in L.A. county reached $485,000 in the second quarter of 2015, a peak which was last seen 8 years ago (in Q4 2007), shortly before the onset of the financial crisis. Compared to Q1 2015, the price represents a 7% increase while compared to the same quarter last year it’s a 9% increase.

The median price per sq. ft. ($338), up 5% Q-o-Q and 8% Y-o-Y, mirrors the trend for median sale prices and stands at an eight-year high as well.

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Year-over-Year Stats at a Glance

  • Median sale price: 9% (Y-o-Y);
  • No. of transactions: 0.2% (Y-o-Y);
  • Median sale price/sq. ft.: 8% (Y-o-Y);
  • Luxury market sales: 13% (Y-o-Y);
  • Most expensive zip code: 90210.

Single-family versus Condo Sales

In Q2 2015, median prices were up for all property classes. The median price for single family homes was $510,000, just $100K over the median price for condos. The price per sq. for single family homes registered the same value as that for condos — $341. See below the number of sales by property type.

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Total Sales Flat Y-o-Y, Luxury Sales Roaring

The number of transactions in the county hardly grew Y-o-Y (+0.2%), but managed to stay in the positive. However, some segments of the markets such as luxury sales have performed strongly and were up 13%.

Luxury Market

Top 10 Residential Sales by Sale Price

The most expensive sale in Q2 was a 10-bedroom mansion in the posh Holmby Hills area, which closed at slightly over $59 million. The property was first listed for $75M.

See the full report of each property by clicking on the Property Address.

No.Property AddressSale Price Property Type
1384 Delfern Dr, LA$59,356,000Single Family Residence
21100 Bel Air Rd, LA$34,500,000Single Family Residence
3837 Greenway Dr, Beverly Hills$28,000,000Single Family Residence
4385 Copa De Oro Rd, Los Angeles$25,000,000Single Family Residence
58940 Thrasher Ave, West Hollywood$25,000,000Single Family Residence
6910 Foothill Rd, Beverly Hills$23,700,000Single Family Residence
7913 N Bedford Dr, Beverly Hills$23,500,000Single Family Residence
846 Beverly Park Cir, Beverly Hills$22,250,000Single Family Residence
9534 Barnaby Rd, Los Angeles$21,440,000Single Family Residence
1015070 Corona Del Mar, Pacific Palisades$21,000,000Single Family Residence

Beverly Hills, Santa Monica, and San Marino the Most Expensive Areas

90210 of Beverly Hills topped the list of the most expensive zip codes in the county, where the average home was sold for over $4M. The second and third most expensive zip codes were in Santa Monica (90402) and San Marino (91108) where the average homes were sold for $2.7M and $2.5M respectively.

The median sale price of the 123 homes sold in Q2 2015 in zip code 90210 was $4.1M (a 12% increase year-over-year), making 90210 the most expensive zip code in LA County. Zip code 90402 grabs the No. 2 slot with a median home price of $2.7M; that’s $1,237 per square foot, the biggest price per sq.ft. in LA county.

RankZip codesLocationNo. of transactionsMedian sale priceMedian price per sq. ft.
190210Beverly Hills123$4,100,000$1,026
290402North of Montana, Santa Monica37$2,737,500$1,237
391108San Marino39$2,500,000$828
490077Bel Air45$2,350,000$879
590272Pacific Palisades123$2,350,000$947
690212Beverly Hills23$2,200,000$880
791008Bradbury6$2,075,000$876
890266Manhattan Beach121$2,000,000$938
990049Brentwood169$1,900,000$725
1090265Malibu105$1,750,000$766

The area with the most affordable housing prices is Pearblossom (zip code 93553), where the median price is as low as $117,500.

RankZip codesLocationNo. of transactionsMedian selling priceMedian price per sq. ft.
193553Pearblossom12
$117,500$105
293591
Palmdale32$132,500$97
393534Lancaster154$164,500$111
493535Lancaster336$167,250$104
593543Littlerock51$180,000$125
693550Palmdale276$185,000$126
793552Palmdale167$215,000$117
893532Lake Hughes6$220,000$133
990061Willowbrook31$236,000$228
1090002Watts67$238,000$244

 

If you’d like to read more details on L.A.’s housing market in Q2, check out our full Los Angeles Report for Q2-2015.

 

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