Pacific Palisades – Single Family Residences – December 2015


 Number of Sales

December Property sales were 23, up 53.3% from 15 in December of 2014 and 76.9% higher than the 13 sales last month. December 2015 sales were at a mid level compared to December of 2014 and 2013. December YTD sales of 283 are running -6.0% behind last year’s year-to-date sales of 301.


Sale Prices

The Median Sales Price in December was $3,200,000, up 60.8% from $1,990,000 in December of 2014 and up 30.6% from $2,450,000 last month. The Average Sales Price in December was $3,364,110, up 21.8% from $2,762,097 in December of 2014 and up 22.4% from $2,749,423 last month. December 2015 ASP was at highest level compared to December of 2014 and 2013.


Inventory & MSI

The Total Inventory of Properties available for sale as of December was 69, down -14.8% from 81 last month and up 16.9% from 59 in December of last year. December 2015 Inventory was at highest level compared to December of 2014 and 2013.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2015 MSI of 3.0 months was at a mid range compared with December of 2014 and 2013.

(MSI is an estimation of how long it will take for all the market’s homes to be sold, or absorbed, based on how many homes are currently on the market and the rate homes have sold in the past)


Time Spent on Market

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for December was 74, up 54.2% from 48 days last month and up 164.3% from 28 days in December of last year. The December 2015 DOM was at its highest level compared with December of 2014 and 2013.


Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The December 2015 Selling Price per Square Foot of $994 was up 0.3% from $991 last month and up 14.5% from $868 in December of last year.


Selling Price vs Listing Price

The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The December 2015 Selling Price vs List Price of 98.4% was down from 99.1% last month and equal to 98.4% in December of last year.


Inventory / New Listings / Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in December 2015 was 17, down -41.4% from 29 last month and up 21.4% from 14 in December of last year.

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Based on information from California Real Estate Technology Services for the period 1/1/2005 through 12/31/2015. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market.