John SkinnerHere’s an overall snapshot of Westside neighborhoods based on Single Family Residences and their performance over the last 2 years ranked from highest in decline to lowest decline based on price per square foot. These type of losses help explain why many buyers are out testing the market right now despite the fact that some of the losses are only 1/3 of the average for LA County…Is it too early to buy in some of these neighborhoods? The current activity of buyers would lead us to believe it is not…if only we had a crystal ball.
1) Malibu 90265 ($734/sqft) -29.7% (2008-2009)
2) Marina del Rey 90292 ($506/sqft) -28.9%
3) Pacific Palisades 90272 ($728/sqft) -22.5%
4) Venice 90291 ($712/sqft) -22.4%
5) Beverlywood 90034 ($456/sqft) -21.5%
6) Culver City 90230 ($467/sqft) -20.6%
7) Santa Monica 90405 ($676/sqft) -19.9%
8) Santa Monica 90403 ($811/sqft) -19.4% (2008-2009)
9) Santa Monica 90402 ($876/sqft) -19.3%
10) Westwood 90024 ($616/sqft) -18.8%
11) Brentwood 90049 ($654/sqft) -17.8%
12) Beverly Hills 90211 ($621/sqft) -17.6%
13) Rancho Park 90064 ($547/sqft) -17.2%
14) Mar Vista 90066 ($531/sqft) -16.2%
15) Bel Air 90077 ($572/sqft) -15.5% (2008-2009)
16) West LA 90025 ($599/sqft) -14.8%
Comparatively, the entire County of Los Angeles corrected over 41.3% in Price Per Square Foot since 2007. . .
*Sources: DataQuik, MLS, Westside RE Meltdown
