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COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS OVERALL SALES ACTIVITY INCREASES FOR MARCH

 COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION
 REPORTS OVERALL SALES ACTIVITY INCREASES FOR MARCH
 LOS ANGELES, April 15 /PRNewswire/ -- Sales activity rose 28.3 percent from last month, while pending sales increased 18.1 percent for all types of properties under the Combined LA Westside (CLAW) Multiple Listing Service, as reported Wednesday by The Los Angeles Board of Realtors(R) Inc.
 Single-family home sales fell 8.4 percent from March last year with a median price of $524,643 on 326 sales closing escrow, compared to 356 last year with a median price of $547,050.
 Condominium sales numbered 140 in March, an increase of 26.1 percent from last month and 2.9 percent from a year ago. The March median price was $254,657, compared to $256,471 last month and $262,714 a year ago. The median price is generally regarded as the best measure of typical prices because median means that half of the properties sold for more, half for less.
 According to Gregory J. Pawlik, president of The Los Angeles Board of Realtors Inc., "sales activity is increasing, buyers seem to be taking advantage of low interest rates and are optimistic the economy is on the road to recovery.
 LOS ANGELES BOARD OF REALTORS INC.
 March 1992 Multiple Listing Statistics
 Listing Status
 Time New Active Pending Closed Time on
 Period Listings Listings Sales Sales Market
 March 92 3,586 16,918 870 512 123
 Feb. 92 3,403 16,603 737 399 117
 March 91 3,658 15,224 903 559 114
 Change from last month:
 Units 183 315 133 113 6
 Percent 5.4 pct. 1.9 pct. 18.1 pct. 28.3 pct. 5 pct.
 Change from last year:
 Units -72 1,694 -33 -47 8
 Percent -2 pct. 11.1 pct. -3.7 pct. -8.4 pct. 7.4 pct.
 Sales/Lease Status
 Property Closed Average Price Median Price
 Type (active)
 1991 1992 1991 1992 1991 1992
 Single family 356 326 $569,536 $479,632 $547,050 $524,643
 Condominiums 136 140 $312,652 $246,739 $262,714 $254,657
 Residential
 Income 42 28 $414,690 $316,670 $560,714 $592,286
 Commercial 4 6 $550,625 $576,667 $403,754 $481,932
 Industrial 1 0 $495,000 0 $467,375 $715,975
 Business
 Opportunity 2 1 $460,000 $27,200 $96,143 $73,750
 Lease
 Residential 8 4 $165,738 $93,913 $2,900 $2,704
 Land 10 7 $374,095 $457,143 $465,429 $466,071
 Motel/Hotel 0 0 0 0 $1,562,500 $1,989,500
 Lease Commercial 0 0 0 0 0 $6,166
 Average Sales Price by Area
 No. of No. of
 Area Sales 1991 Sales 1992
 Beverly Hills 14 $1,332,565 12 $763,143
 Beverly Hills P.O. Box 8 $974,447 5 $623,577
 Sunset Strip/Hollywood
 Hills 23 $569,248 21 $543,208
 Bel Air/Holmby Hills 8 $930,538 7 $795,806
 Westwood/Century City 25 $538,988 26 $381,210
 Brentwood 14 $903,221 17 $794,775
 Western Los Angeles 7 $267,968 7 $262,509
 Cheviot Hills/Rancho Park 5 $867,585 6 $647,305
 Beverlywood 10 $418,271 13 $398,209
 West Hollywood 20 $222,855 27 $203,729
 Venice 10 $364,040 38 $310,280
 Marina del Rey 7 $433,518 9 $378,584
 Palms/Mar Vista 20 $314,049 18 $315,441
 Santa Monica 36 $461,521 36 $401,528
 Pacific Palisades 22 $674,610 18 $737,959
 Mid Los Angeles 25 $208,352 14 $183,622
 Mid Wilshire 2 $211,167 4 $155,137
 Hancock Park/Wilshire 19 $380,529 19 $463,096
 Miracle Mile/Wilshire West 18 $375,284 14 $359,609
 Hollywood 7 $429,446 4 $234,984
 Silver Lake/Echo Park 15 $215,633 17 $230,158
 Los Feliz 15 $528,676 13 $374,827
 Metropolitan Los Angeles 7 $188,958 6 $129,175
 Northern Los Angeles 12 $198,518 12 $212,879
 Culver City 22 $219,169 15 $217,751
 Westchester 22 $321,128 22 $324,016
 Hollywood Hills East 6 $341,804 10 $407,859
 Playa Del Rey 7 $258,418 10 $334,838
 Malibu Beach 3 $1,260,728 1 $1,948,050
 Malibu Landslide 11 $524,137 13 $593,090
 Southwest Los Angeles 8 $204,433 14 $227,610
 Inglewood 5 $209,000 9 $181,189
 Metropolitan Southwest 2 $164,667 4 $202,922
 Metropolitan South 2 $145,055 2 $160,933
 Condominiums vs. Single-Family Houses
 Sales Median Price
 March 1992:
 Houses 326 $524,643
 Condos 140 $254,657
 February 1992:
 Houses 232 $531,786
 Condos 111 $256,471
 March 1991:
 Houses 356 $547,050
 Condos 136 $262,714
 Change from last month:
 Houses 94 -$7,143
 Condos 29 -$1,814
 Change from last year:
 Houses -30 -$22,407
 Condos 4 -$8,057
 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- 4/15/92
 /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:


DM-EH -- LA003 -- 8624 04/15/92 11:03 EDT
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