2018’s 4th quarter single-family home sales numbers in Greater Los Angeles were verified by the Multiple Listing Service this week: In a comparison of last year’s final quarter median price over that of the previous year (2017), several of L.A.’s micro-markets were hot, others cool—and some downright chilly. Major price appreciation in 2018 took place in neighborhoods like Cheviot Hills – Rancho Park (+50% over 2017), Malibu (+42%), Atwater Village (+30%), and Bel Air (+11%).
Price stability was made evident during the end of 2018 in markets such as Hancock Park (+4% growth over 2017’s 4th quarter), Silver Lake – Echo Park (+2%), Westchester (+1%), and Playa Vista (0%). Single-digit shifts below 2017’s median prices took place in areas like Mount Washington (-1%), Culver City (-2%), Los Feliz (-5%), and Palms – Mar Vista (-7%).
Double digit declines in 2018’s 4th quarter median prices when compared with 2017’s statistics rocked neighborhoods like Hollywood (-13%), Beverly Hills (-18%), Santa Monica (-19%), and Marina Del Rey (-32% below 2017).