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COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS MAY CLOSED SALES INCREASED 3.4 PERCENT OVER LAST MONTH

 COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS
 MAY CLOSED SALES INCREASED 3.4 PERCENT OVER LAST MONTH
 LOS ANGELES, June 16 /PRNewswire/ -- Closed sales were up 3.4 percent in May over last month for all types of properties under the Combined LA Westside (CLAW) Multiple Listing Service, it was reported Tuesday by the Los Angeles Board of Realtors(R).
 Single-family home sales increased 9.7 percent from April 1992 and declined 27.6 percent from May 1991. In May 1992, 406 closed sales were reported with a median price of $528,557 compared to 561 a year ago with a median price of $557,571.
 Condominium sales numbered 174 in May 1992, an increase of 1.6 percent from last month, but declined 34.6 percent from May 1991. The May median price was $257,643 compared to $255,929 last month and $265,786 from last year.
 Gregory J. Pawlik, GRI, president of the Los Angeles Board of Realtors Inc., stated that "consumers are still concerned over jobs and the economy. Sales generally do increase as summer approaches because children are out of school and families tend to move at this time, especially if interest rates continue to stay low."
 LOS ANGELES BOARD OF REALTORS INC.
 May 1992 Multiple Listing Statistics
 Listing Status
 Time New Active Pending Closed Time on
 Period Listings Listings Sales Sales Market
 May 92 3,642 17,861 625 637 126
 April 92 3,495 17,238 741 616 125
 May 91 4,285 16,548 958 918 124
 Change from last month:
 Units 147 623 -116 21 1
 Percent 4.2 pct. 3.6 pct. -15.7 pct. 3.4 pct. 1 pct.
 Change from last year:
 Units -643 1,313 -333 -281 2
 Percent -15 pct. 7.9 pct. -34.8 pct. -30.6 pct. 1.8 pct.
 Sales/Lease Status
 Property Closed Average Price Median Price
 Type (active)
 1992 1991 1992 1991 1992 1991
 Single family 406 561 $490,090 $535,954 $528,557 $557,571
 Condominiums 174 266 $279,003 $245,724 $257,643 $265,786
 Residential
 Income 40 66 $436,745 $378,670 $556,786 $560,571
 Commercial 2 3 $66,250 $396,333 $634,143 $534,714
 Industrial 0 0 0 0 $653,475 $628,900
 Business
 Opportunity 0 2 0 $61,500 $99,714 $94,143
 Lease
 Residential 9 10 $2,258 $409,250 $2,738 $3,100
 Land 6 10 $388,667 $260,900 $473,214 $459,786
 Motel/Hotel 0 0 0 0 $1,396,000 $1,468,000
 Lease Commercial 0 0 0 0 $3,592 0
 Average Sale Price by Area
 No. of No. of
 Area Sales 1992 Sales 1991
 Beverly Hills 16 $697,737 23 $888,450
 Beverly Hills P.O. Box 10 $1,051,286 10 $819,770
 Sunset Strip/Hollywood
 Hills 27 $445,725 40 $562,496
 Bel Air/Holmby Hills 11 $837,230 13 $958,109
 Westwood/Century City 33 $495,643 53 $548,230
 Brentwood 25 $754,519 27 $882,137
 Western Los Angeles 11 $312,475 15 $374,274
 Cheviot Hills-Rancho Park 9 $574,994 9 $599,019
 Beverlywood 16 $310,563 22 $363,844
 West Hollywood 27 $252,825 35 $240,839
 Venice 38 $380,297 16 $361,650
 Marina del Rey 11 $412,261 13 $440,194
 Palms-Mar Vista 29 $292,433 32 $327,757
 Santa Monica 43 $445,080 63 $460,282
 Pacific Palisades 22 $718,207 33 $771,104
 Mid-Los Angeles 14 $160,173 26 $205,611
 Mid-Wilshire 5 $187,500 4 $244,821
 Hancock Park/Wilshire 22 $425,142 21 $473,904
 Miracle Mile/Wilshire West 19 $332,704 29 $391,886
 Hollywood 5 $189,270 10 $293,491
 Silver Lake/Echo Park 28 $248,892 28 $244,945
 Los Feliz 16 $414,825 14 $443,492
 Metropolitan Los Angeles 6 $141,952 10 $131,761
 Northern Los Angeles 11 $231,407 18 $215,859
 Culver City 28 $221,024 33 $242,738
 Westchester 30 $289,711 28 $329,656
 Hollywood Hills East 10 $372,475 10 $404,501
 Playa del Rey 12 $287,827 15 $297,153
 Malibu Beach 3 $712,683 7 $1,486,719
 Malibu Landside 17 $492,810 15 $597,131
 Southwest Los Angeles 21 $213,720 20 $203,617
 Inglewood 6 $189,308 8 $176,268
 Metropolitan Southwest 5 $126,714 3 $211,417
 Metropolitan South 3 $145,783 3 $114,200
 Condominiums vs. Single-Family Homes
 Sales Median Price
 May 1992:
 Houses 406 $528,557
 Condos 174 $257,643
 April 1992:
 Houses 370 $530,071
 Condos 171 $255,929
 May 1991:
 Houses 561 $557,571
 Condos 266 $265,786
 Change from last month:
 Houses 36 -$1,514
 Condos 3 $1,714
 Change from last year:
 Houses -155 -$29,014
 Condos -92 -$8,143
 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- 6/16/92
 /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 Board of Realtors, 213-383-5227/ CO: Los Angeles Board of Realtors ST: California IN: FIN SU:


KJ-EH -- LA004 -- 0605 06/16/92 11:01 EDT
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