REAL ESTATE MARKET TRENDS HOLLYWOOD HILLS
THE AVERAGE SOLD PRICE WENT UP 50% SINCE 2019!!
Average $/sf in Hollywood Hills (2019 to 2022) - Single Family Homes
Is it a good time to sell?
Hollywood Hills is a great area to live in. It has access to the beach, Griffith Park, and plenty of shopping and restaurants. The average price per square foot has been trending up since 2019. In 2022, this neighborhood had the highest price per square foot since 2019. Looking at June, there is a slight dip but it still remains above the previous year’s peaks. This upward trend is consistent with other areas in Los Angeles that have experienced increased demand for housing due to all-time low-interest rates, a need for larger space after a long lockdown, and limited supply.
WILL IT KEEP GOING UP?
Knowing that the interest rate is increasing by the day and knowing the stock market is not doing well lately, we might be at the peak of it. Things seem to be slowing down. Could it be the season Or the tip of a recession? Only the next couple of months will tell If you are thinking about selling your home.
Now might be the best time to sell as the market is at an all-time high but it may not be that way for long…
Data based on the MLS (Multiple Listing Service) and does not include off-market sales
Latest data as of June 2022
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Latest data as of June 2022 〰️
CLOSED SALES
CLOSED SALES: 5
MEDIAN LIST PRICE SOLD: $2,175,000
MINIMUM PRICE SOLD: $1,198,000
MEDIAN SOLD PRICE: $2,556,500
MAXIMUM PRICE SOLD: $2,950,000
AVERAGE DAYS TO SELL: 11
AVERAGE PRICE SOLD: $2,156,023
AVG. PRICE PER SQ. FT.: $891.60
ACTIVE-PENDING LISTINGS
ACTIVE LISTINGS : 80
PENDING LISTINGS: 20
MINIMUM LIST PRICE: $749,900
MEDIAN LIST PRICE: $2,295,000
MAXIMUM LIST PRICE: $10,995,000
AVG. DAYS ON MARKET: 33
AVERAGE LIST PRICE: $2,917,809
AVG. PRICE PER SQ. FT.: $944.48
(Data based on the MLS - Multiple Listing Service. Off-market properties not included)
