With the summer buying season coming, it’s a good time to take the pulse of Hollywood Hills ZIP code 90046 in terms of condo and home listings and sales. That way, we can come back in August and September and see how this market has fared.
As you’ll see, inventories are large, especially for condos. There are four times as many single-family homes on the market than sales in the last three months. But there are nearly nine times as many condos as sales. This is a pattern we are seeing in other nearby markets, such as Beverly Hills and Westwood.
Another pattern: a disconnect between listing and sales prices. As you can see, there’s a $400,000 difference between listing prices and sold prices on single-family homes and a $234,000 gulf on condos. People are looking for bargains, and properties that are priced lower are moving faster.
90046: Western Hollywood Hills/Sunset Strip
Sold in last three months: 50
Average sold price: $1,000,000
For sale: 136
Average listing price: $734,000
Average days on market: 81
Sold in last three months: 16
Average sold price: $500,000