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COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS PENDING SALES ARE ON THE RISE

 COMBINED LOS ANGELES WESTSIDE REAL ESTATE REGION
 REPORTS PENDING SALES ARE ON THE RISE
 LOS ANGELES, Feb. 13 /PRNewswire/ -- Sales activity decreased 6.7 percent in January for all types of properties, while pending sales increased 8.1 percent indicating that February's closed escrow sales may increase slightly for all areas under the Combined L.A. Westside (CLAW) Multiple Listing Service, it was reported Thursday by The Los Angeles Board of Realtors.
 Single-family home sales declined only 2.7 percent from January last year with a median price of $527,430 on 252 sales closing escrow, compared to 259 last year. Compared to a year ago, pending sales have increased 17 percent, indicating that buyers may be taking advantage of low interest rates. The annual rise in new listings for January -- 83.5 percent -- is because of sellers who have placed their homes back on the market after the holidays.
 Condominium sales numbered 129 in January, a decline of 2.3 percent over December and decreased 10.4 percent from January last year. This January's median price was $255,770, compared to $257,140 from December and $265,915 for January of 1991. 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., "The market is picking up, we are seeing pending sales increase because buyers are taking advantage of the low interest rates and favorable home prices."
 LOS ANGELES BOARD OF REALTORS INC.
 January 1992 Multiple Listing Statistics
 Listing Status
 Time New Active Pending Closed Time on
 Period Listings Listings Sales Sales Market
 Jan. 92 3,961 16,139 572 449 117
 Dec. 91 2,159 15,201 529 481 119
 Jan. 91 3,957 14,454 489 481 110
 Change from last month:
 Units: 1,802 938 43 -32 -2
 Percent: 83.5 pct. 6.2 pct. 8.1 pct. -6.7 pct.-1.7 pct.
 Change from last year:
 Units: 4 1,685 83 -32 7
 Percent: .1 pct. 11.7 pct. 17 pct. -6.7 pct. 6.4 pct.
 Sales/Lease Status
 Property Closed Average Price Median Price
 Type (active)
 1991 1992 1991 1992 1991 1992
 Single family 259 252 $561,957 $474,248 $546,715 $527,430
 Condominiums 144 129 $231,743 $240,074 $265,915 $255,770
 Residential
 Income 49 46 $425,036 $438,249 $603,430 $487,000
 Commercial 8 1 $562,000 $300,000 $622,645 $559,835
 Industrial 0 0 0 0 $570,125 $1,037,970
 Business
 Opportunity 0 1 0 $72,000 $93,570 $78,000
 Lease
 Residential 8 8 $126,331 $105,637 $2,670 $2,665
 Land 13 11 $370,769 $835,818 $436,285 $439,145
 Motel/Hotel 0 1 0 $1,015,000 $2,995,000 $2,610,000
 Lease Commercial 0 0 0 0 0 $6,505
 Average Sales Price by Area
 No. of No. of
 Area Sales 1991 Sales 1992
 Beverly Hills 11 $1,159,548 9 $770,623
 Beverly Hills P.O. Box 6 $1,035,170 2 $973,958
 Sunset Strip/Hollywood
 Hills 16 $488,811 17 $483,644
 Bel Air/Holmby Hills 7 $1,055,875 6 $990,571
 Westwood/Century City 25 $487,977 24 $455,652
 Brentwood 18 $532,041 19 $722,112
 Western Los Angeles 7 $324,746 9 $296,465
 Cheviot Hills-Rancho Park 3 $756,388 5 $488,452
 Beverlywood 11 $408,305 10 $417,807
 West Hollywood 21 $209,447 22 $222,305
 Venice 9 $332,986 11 $318,574
 Marina del Rey 5 $296,173 7 $339,240
 Palms-Mar Vista 18 $317,839 17 $311,283
 Santa Monica 27 $524,561 25 $402,940
 Pacific Palisades 13 $865,559 18 $874,745
 Mid-Los Angeles 36 $219,161 12 $204,998
 Mid-Wilshire 6 $244,885 5 $330,815
 Hancock Park/Wilshire 18 $394,901 20 $460,430
 Miracle Mile/Wilshire West 15 $284,105 12 $358,213
 Hollywood 7 $288,979 4 $303,505
 Silver Lake/Echo Park 17 $248,944 17 $250,644
 Los Feliz 15 $563,745 11 $354,363
 Metropolitan Los Angeles 10 $158,203 7 $149,420
 Northern Los Angeles 11 $207,601 10 $193,050
 Culver City 21 $254,567 13 $228,593
 Hollywood Hills East 11 $392,569 9 $336,923
 Malibu Beach 1 $811,250 2 $879,166
 Malibu Landslide 10 $436,214 10 $503,752
 Southwest Los Angeles 2 $152,833 12 $233,625
 Metropolitan Southwest unavailable 4 $244,316
 Metropolitan South unavailable 5 $161,447
 Condominiums vs. Single-Family Homes
 January 1992:
 Houses 252 $527,430
 Condos 129 $255,770
 December 1991:
 Houses 292 $536,000
 Condos 132 $257,140
 January 1991:
 Houses 259 $546,715
 Condos 144 $265,915
 Change from last month:
 Houses -40 -$8,570
 Condos -3 -$1,370
 Change from last year:
 Houses -7 -$19,286
 Condos -15 -$10,143
 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- 2/13/92
 /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-JL -- LA003 -- 9678 02/13/92 11:03 EST
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