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.
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
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
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
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.