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COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS CLOSED SALES DECLINE .3 PERCENT FROM LAST MONTH

 COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS
 CLOSED SALES DECLINE .3 PERCENT FROM LAST MONTH
 LOS ANGELES, July 16 /PRNewswire/ -- Closed sales were down .3 percent from May 1992 and declined 30.9 percent from this time last year for all types of properties under the Combined L.A. Westside (CLAW) Multiple Listing Service, it was reported Thursday by The Los Angeles Association of REALTORS(R).
 Single-family home sales decreased 3 percent from May 1992 and declined 28.4 percent from June 1991. In June 1992, 394 closed sales were reported with a median price of $532,571, compared to 550 a year ago with a median price of $558,786.
 Condominium sales numbered 169 in June 1992, a decrease of 2.9 percent from last month and fell 37.4 percent from June 1991. The June median price was $253,000, compared to $257,643 last month and $264,571 from last year.
 Gregory J. Pawlik, GRI, president of the Los Angeles Association of REALTORS Inc., stated that "Buyers are still concerned over the economy, sellers must continue to price their homes competitively, because if a property is listed right it will sell."
 LOS ANGELES BOARD OF REALTORS INC.
 June 1992 Multiple Listing Statistics
 Listing Status
 Time New Active Pending Closed Time on
 Period Listings Listings Sales Sales Market
 June 92 3,898 18,332 659 635 122
 May 92 3,642 17,861 625 637 126
 June 91 4,081 17,041 821 919 125
 Change from last month:
 Units 256 471 34 -2 -4
 Percent 7 pct. 2.6 pct. 5.4 pct. -.3 pct. -3.5 pct.
 Change from last year:
 Units -183 1,291 -162 -284 -4
 Percent -4.5 pct. 7.6 pct. -19.7 pct. -30.9 pct. -3.1 pct.
 Sales/Lease Status
 Property Closed Average Price Median Price
 Type (active)
 1991 1992 1991 1992 1991 1992
 Single family 550 394 $530,222 $507,353 $558,786 $532,571
 Condominiums 270 169 $257,841 $247,739 $264,571 $253,000
 Residential
 Income 57 45 $427,659 $312,071 $508,440 $554,143
 Commercial 8 3 $261,463 $324,167 $684,071 $579,000
 Industrial 0 1 $0 $0 $1,108,800 $971,300
 Business
 Opportunity 3 0 $49,667 0 $114,857 $114,286
 Lease
 Residential 17 10 $117,082 $2,260 $3,150 $2,736
 Land 14 12 $435,607 $662,083 $467,286 $463,286
 Motel/Hotel 0 0 $0 $0 $1,359,667 $1,325,000
 Lease Commercial 0 1 $0 $1,500 $0 $2,413
 Average Sale Price by Area
 No. of No. of
 Area Sales 1991 Sales 1992
 Beverly Hills 25 $929,981 16 $845,018
 Beverly Hills P.O. Box 14 18 $879,127 11 $936,414
 Sunset Strip/Hollywood
 Hills 47 $528,746 28 $487,883
 Bel Air/Holmby Hills 14 $1,048,101 12 $1,097,542
 Westwood/Century City 58 $470,828 36 $512,021
 Brentwood 32 $702,328 27 $710,688
 Western Los Angeles 21 $393,228 12 $332,417
 Cheviot Hills-Rancho Park 8 $663,052 9 $496,592
 Beverlywood 25 $360,630 16 $314,983
 West Hollywood 46 $259,880 29 $250,664
 Venice 17 $321,144 35 $384,381
 Marina del Rey 18 $418,751 11 $394,610
 Palms-Mar Vista 37 $336,597 35 $299,150
 Santa Monica 70 $441,331 50 $429,850
 Pacific Palisades 33 $769,958 24 $736,579
 Mid-Los Angeles 34 $191,356 13 $185,477
 Mid-Wilshire 4 $207,155 4 $192,333
 Hancock Park/Wilshire 25 $582,057 21 $376,368
 Miracle Mile/Wilshire West 31 $387,284 17 $308,569
 Hollywood 11 $231,490 5 $209,023
 Silver Lake/Echo Park 34 $248,214 32 $261,124
 Los Feliz 16 $406,778 14 $416,398
 Metropolitan Los Angeles 11 $139,118 7 $135,490
 Northern Los Angeles 20 $211,455 13 $227,494
 Culver City 41 $244,485 30 $234,018
 Westchester 28 $336,030 26 $291,826
 Hollywood Hills East 12 $398,647 10 $322,309
 Playa del Rey 19 $265,746 13 $272,274
 Malibu Beach 8 $954,333 3 $457,966
 Malibu Landside 18 $565,665 20 $538,473
 Southwest Los Angeles 25 $195,602 27 $216,632
 Inglewood 11 $202,935 7 $185,700
 Metropolitan Southwest 4 $216,139 4 $125,928
 Metropolitan South 4 $107,256 3 $157,450
 Condominiums vs. Single-Family Houses
 Sales Median Price
 June 1992:
 Houses 394 $532,571
 Condos 169 $253,000
 May 1992:
 Houses 406 $528,557
 Condos 174 $257,643
 June 1991:
 Houses 550 $558,786
 Condos 270 $264,571
 Change from last month:
 Houses -12 $4,014
 Condos -5 -$4,643
 Change from last year:
 Houses -156 -$26,214
 Condos -101 -$11,571
 The MLS statistics reflect data recorded from activity of the Combined L.A./Westside Multiple Listing Service. Neither the association members nor the MLS guarantees or is in any way responsible for its accuracy.
 -0- 7/16/92
 /EDITOR'S NOTE: This report contains cumulative and expanded data to include all areas under the Combined L.A. Westside (CLAW) Multiple Listing Service. CLAW is comprised of seven MLS regions: Beverly Hills, Culver City, Los Angeles, Malibu, Santa Monica, Southwest L.A. and Venice-Marina del Rey.
 /CONTACT: Ray Rosenberg, executive VP, or Edie Anderson, of The Los Angeles Association of REALTORS, 213-383-5227/ CO: Los Angeles Board of REALTORS ST: California IN: FIN SU:


KJ-EH -- LA001 -- 9703 07/16/92 11:56 EDT
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