Pacific Palisades – Single Family Residences – April 2016


 Number of Sales

April Property sales were 15, down -53.1% from 32 in April of 2015 and -37.5% lower than the 24 sales last month. April 2016 sales were at their lowest level compared to April of 2015 and 2014. April YTD sales of 70 are running -20.5% behind last year’s year-to-date sales of 88.


Sale Prices

The Median Sales Price in April was $2,340,000, down -3.4% from $2,422,500 in April of 2015 and down -15.1% from $2,757,000 last month. The Average Sales Price in April was $2,996,970, down -12.3% from $3,418,323 in April of 2015 and down -10.6% from $3,351,009 last month. April 2016 ASP was at the lowest level compared to April of 2015 and 2014.


Inventory & MSI

The Total Inventory of Properties available for sale as of April was 102, up 12.1% from 91 last month and up 36.0% from 75 in April of last year. April 2016 Inventory was at highest level compared to April of 2015 and 2014.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2016 MSI of 6.8 months was at its highest level compared with April of 2015 and 2014.

(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 April was 27, down -46.0% from 50 days last month and down -50.9% from 55 days in April of last year. The April 2016 DOM was at its lowest level compared with April of 2015 and 2014.


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 April 2016 Selling Price per Square Foot of $970 was up 0.2% from $968 last month and down -5.4% from $1,025 in April 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 April 2016 Selling Price vs List Price of 100.0% was up from 97.3% last month and up from 99.4% in April 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 April 2016 was 46, up 17.9% from 39 last month and up 2.2% from 45 in April of last year.

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Based on information from California Real Estate Technology Services for the period 1/1/2005 through 5/1/2016. 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.