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COMBINES LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS CLOSED SALES INCREASE 2.5 PERCENT OVER LAST MONTH

 COMBINES LOS ANGELES WESTSIDE REAL ESTATE REGION REPORTS
 CLOSED SALES INCREASE 2.5 PERCENT OVER LAST MONTH
 LOS ANGELES, Aug. 14 /PRNewswire/ -- Closed sales were up 2.5 percent from June 1992 and declined 21.2 percent from this time last year for all types of properties under the Combined LA Westside (CLAW) Multiple Listing Service, it was reported Friday by The Los Angeles Association of REALTORS(R).
 Single-family home sales decreased 14 percent from June 1992 and declined 29.7 percent from July 1991. In July 1992, 339 closed sales were reported with a median price of $515,986 compared to 482 a year ago with a median price of $547,771.
 Condominium sales numbered 145 in July 1992, a decrease of 14.2 percent from the previous month and fell 42.5 percent from July 1991. The July median price was $254,400 compared to $253,000 last month and $257,486 from last year.
 Gregory J. Pawlik, GRI, president of the Los Angeles Association of REALTORS Inc., stated that "This is a great time for buyers to purchase a home, inventory is plentiful and priced very competitively, while current interest rates are lower than they have been in years."
 LOS ANGELES ASSOCIATION OF REALTORS INC.
 July 1992 Multiple Listing Statistics
 Listing Status
 Time New Active Pending Closed Time on
 Period Listings Listings Sales Sales Market
 July 92 3,847 18,768 684 651 125
 June 92 3,898 18,332 659 635 122
 July 91 4,030 17,401 817 826 125
 Change from last month:
 Units -51 436 25 16 3
 Percent -1.3 pct. 2.4 pct. 3.8 pct. 2.5 pct. 2.2 pct.
 Change from last year:
 Units -183 1,367 -133 -175 0
 Percent -4.5 pct. 7.9 pct. -16.3 pct. -21.2 pct. 0 pct.
 Sales/Lease Status
 Property Closed Average Price Median Price
 Type (active)
 1991 1992 1991 1992 1991 1992
 Single family 482 339 $556,731 $415,859 $547,771 $515,986
 Condominiums 252 145 $251,123 $247,980 $257,486 $254,400
 Residential
 Income 60 44 $459,208 $407,797 $550,000 $552,357
 Commercial 4 2 $537,500 $313,750 $764,857 $519,895
 Industrial 1 0 $255,000 0 $831,667 $971,300
 Business
 Opportunity 0 0 0 0 $98,571 $107,000
 Lease
 Residential 14 15 $202,068 $78,889 $3,021 $3,539
 Land 13 6 $727,308 $245,792 $450,584 $466,986
 Motel/Hotel 0 0 0 0 $1,759,667 $1,397,500
 Lease Commercial 0 0 0 0 $0 $2,686
 Average Sale Price by Area
 No. of No. of
 Area Sales 1991 Sales 1992
 Beverly Hills 27 $1,060,655 14 $888,267
 Beverly Hills P.O. Box 14 19 $876,958 10 $707,746
 Sunset Strip/Hollywood
 Hills 44 $510,009 29 $422,880
 Bel Air/Holmby Hills 16 $1,114,540 12 $1,026,919
 Westwood/Century City 54 $500,041 38 $519,346
 Brentwood 31 $693,921 26 $637,592
 Western Los Angeles 19 $337,478 12 $279,152
 Cheviot Hills/Rancho Park 8 $652,052 9 $445,483
 Beverlywood 26 $371,087 16 $319,178
 West Hollywood 49 $256,612 28 $245,387
 Venice 16 $312,159 30 $380,754
 Marina del Rey 15 $411,070 7 $393,881
 Palms/Mar Vista 39 $336,301 33 $309,440
 Santa Monica 69 $453,808 51 $418,280
 Pacific Palisades 40 $738,641 23 $680,466
 Mid Los Angeles 36 $178,359 16 $192,664
 Mid-Wilshire 3 $190,883 5 $201,917
 Hancock Park/Wilshire 26 $631,665 21 $368,555
 Miracle Mile/Wilshire West 36 $383,038 20 $311,613
 Hollywood 10 $214,232 5 $246,288
 Silver Lake/Echo Park 35 $266,045 31 $244,661
 Los Feliz 18 $404,254 11 $438,406
 Metropolitan Los Angeles 11 $150,057 6 $121,577
 Northern Los Angeles 20 $216,414 14 $212,089
 Culver City 47 $231,933 28 $231,400
 Westchester 30 $333,977 23 $292,097
 Hollywood Hills East 11 $374,498 11 $314,328
 Playa del Rey 19 $264,341 12 $290,789
 Malibu Beach 6 $1,196,203 3 $533,225
 Malibu Landside 22 $499,000 19 $582,981
 Southwest Los Angeles 27 $209,027 27 $224,356
 Inglewood 11 $235,351 9 $183,584
 Metropolitan Southwest 4 $150,055 2 $82,500
 Metropolitan South 4 $118,847 2 $167,055
 Condominiums vs. Single-Family Homes
 Sales Median Price
 July 1992:
 Houses 339 $515,986
 Condos 145 $254,400
 June 1992:
 Houses 394 $532,571
 Condos 169 $253,000
 July 1991:
 Houses 482 $547,771
 Condos 252 $257,486
 Change from last month:
 Houses -55 -$16,585
 Condos -24 $1,400
 Change from last year:
 Houses -143 -$31,786
 Condos -107 -$3,086
 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- 8/14/92
 /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-LS -- LA004 -- 9952 08/14/92 11:01 EDT
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