2025 Market Stats
Mortgage Rates (Freddie Mac):
- The average 30-year fixed rate decreased this week to 6.06% vs 6.16% last week
- This marks a three-year low and a 1% dip from this time last year when rates were around 7.0%
- The decline follows President Trump's announcement that Fannie Mae and Freddie Mac would purchase $200 billion in mortgage bonds
- These lower mortgage rates heading into the Spring Selling Season should give the market strong momentum!
2025 Market Update: Prime LA Home Sales on the Rise:
When I compare MLS data across LA's prime markets (including Beverly Hills, BHPO, Hollywood Hills, West Hollywood, Bel Air / Holmby Hills, Westwood / Century City, Brentwood, Santa Monica, Venice and Mar Vista), we see notable year-over-year shifts:
October 2025 vs. October 2024:
Homes Sold:- 2,379 in 2025 vs. 2,002 in 2024, an increase of 19%
Median Sales Price:- $3,000,000 in 2025 vs. $2,750,000 in 2024, an increase of 9%
- Median Sales Price Per Sq Ft:
- $1,645 in 2025 vs. $1,309 in 2024, an increase of 26%
Average Days on Market:- 41 days in 2025 vs. 39 days in 2024, an increase of 5%
Highest Sale Recorded:- $110M in 2025 vs. $92.8M in 2024
What's Driving This?
- The healthy 19% increase in sales volume reflects several key market dynamics:
- Improved financing conditions: Mortgage rates, which hovered in the 7-8% range throughout 2024, dropped to the low 6% range by late 2025, bringing more buyers off the side-lines
- Shifting demand patterns following the Palisades and Malibu fires have redirected buyers toward neighboring communities, particularly Brentwood and Santa Monica, adding competitive pressure to these markets
- That said, performance remains highly area and property specific:
- The luxury segment ($10m+) takes longer to sell
- Renovated and well-priced homes under $5m remain in strong demand, frequently generating multiple offers
Looking ahead, we're entering the peak Spring Selling Season, which typically gains momentum after the Super Bowl (February 8th).
If you've been considering buying or selling and would like a personalized consultation, feel free to reach out at [email protected].
Best regards,
Hannah
Luxury Residential Realtor® | Westside Estate Agency
Santa Monica • Beverly Hills • West Hollywood
