Is West Hollywood, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, West Hollywood was a Seller's Market.
Key Takeaway
West Hollywood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Hollywood, CA
How much do homes in West Hollywood, CA cost?
Median Sold Price
$1,135,333
$857/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Hollywood have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in West Hollywood was $1,135,333 in May 2024, down 4.3% from last year, and the median price per square foot was $857.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $665K | $675K | +1.5% |
| 2 Bedrooms | $1.2M | $1.1M | -7.2% |
| 3 Bedrooms | $1.7M | $2.1M | +27.1% |
| 4 Bedrooms | $2.6M | $2.0M | -22.0% |
| 5+ Bedrooms | $3.2M | $2.7M | -13.5% |
Summary: West Hollywood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 27.1%, 4 bedroom homes decreased by 22%, and 5+ bedroom homes decreased by 13.5%.
Median Sold Price Compared To Nearby Cities
| Los Angeles | $968.1K | $995.9K | +2.9% |
| West Hollywood | $1.1M | $1.1M | -4.3% |
| Beverly Hills | $3.6M | $3.1M | -13.6% |
Housing Supply in West Hollywood, CA
How many homes are available in West Hollywood, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 204 | 254 | +24.5% |
Summary: The West Hollywood real estate market had 254 homes for sale in May 2024, a 24.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 57 | 64 | +12.3% |
| 2 Bedrooms | 80 | 95 | +18.8% |
| 3 Bedrooms | 25 | 38 | +52.0% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 26 | 36 | +38.5% |
Summary: The West Hollywood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 52%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 31 | -8.8% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Hollywood, you may be able to get a good deal. 58.1% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in West Hollywood in May 2024, down by 8.8% month-over-month. Of the 31 sold homes, 58% were sold under asking, 29% were sold at asking, and 13% were sold over asking.
Days on Market for West Hollywood, CA
How long does it take to sell a home in West Hollywood, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 40 Days | -3.8% |
Summary: Homes in West Hollywood had an average of 40 days on market in May 2024, down by 3.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Hollywood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in West Hollywood; 52% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.