July 18, 2025 Your Source for Brentwood News

Brentwood housing market: Looking back – and forward

For the past 28 years Michael Edlen has tracked local statistics and trends, and has provided real estate counseling services to thousands of prospective buyers and sellers.
For the past 28 years Michael Edlen has tracked local statistics and trends, and has provided real estate counseling services to thousands of prospective buyers and sellers.

As we began 2015, the number of homes available for sale in Brentwood was not as low as it was a year ago. However, there are only 50 homes on the market, which is the same supply as at the beginning of 2013.

Due to the high demand for Brentwood houses especially under $2 million, the median $3.7 million list price is almost unbelievably 70 percent higher than it was two years ago, and 23 percent higher than one year ago.

In 2014, we experienced another year of fewer sales as compared with 2013, with average sales prices increasing by 15 percent.

With just 50 homes on the market at the start of this year, it would only take only 2.5 months to sell all the homes available at the current rate.

When the inventory level dips below six months, it is generally considered to be a “seller’s market.”

As of January 2015, sellers nearly have the most favorable market environment that we’ve had in decades. With home sales continuing to exceed new inventory in 2014, it is no surprise that prices have continued to increase so much.

A number of factors have contributed to this continuing lower supply. One is that some owners who have been leasing their home rather than selling in the down market have not yet made them available for purchase. Another factor is that the level of purchasing by investors has continued to increase through 2014, putting pressure on the market in many Brentwood and other Westside neighborhoods.

Additionally, banks own only a few Brentwood homes, which have not yet been listed for sale. Also, 20 local homes are either in pre-foreclosure stages or already have had bank auction dates scheduled.

Looking forward, buyers are likely to experience a continuing high level of frustration in their effort to identify and succeed in purchasing a home.

Although interest rates are still near low levels, which has made home purchasing much more affordable, many prospective buyers have often found themselves being out-bid by either all-cash buyers or by investors/developers seeking more business opportunities.

Some good news for buyers is that investors are beginning to reduce their purchases of homes as their profit margin narrows and inventory of local distressed properties has declined.

Of course it may take several months before enough homes are listed for sale in the more affordable price ranges, but the increase in home prices will gradually encourage more homeowners to put their homes up for sale.

As could be expected, local sellers are likely to continue enjoying a very solid market in their favor for at least several months. Until interest rates and/or average price levels increase more significantly, it is reasonable to suppose that the current strength of the buyer pool will be great enough to offset the seasonal increase in new listings that is now beginning.

Of course, each neighborhood has its own price dynamics. Also, there are varying degrees of market balance between sellers and buyers at different price ranges. Therefore, owners who may be considering selling property in 2015 would do well to meet with an experienced local real estate agent to assess where their particular property fits into this picture before deciding on timing and price positioning.

Michael Edlen has sold nearly $2 billion, 1,200 homes, and his team has more than 90 years of combined experience in real estate. He provides real estate counseling services to prospective buyers and sellers. More insight and information are available at MichaelEdlen.com. He can be reached at 310.230.7373 or Michael@MichaelEdlen.com.

Related Posts

Nearly $1B Secured for Refinancing of Westfield Century City Mall

July 18, 2025

July 18, 2025

The proceeds will replace a $925 million commercial mortgage-backed securities loan, originally issued by Morgan Stanley in 2023 and due...

West Coast Premiere of ‘The Opposite of Love’ Opens at Hudson Backstage Theatre

July 18, 2025

July 18, 2025

Produced by Neil Gooding Productions, behind shows like Back to the Future: The Musical, the play runs Thursdays through Saturdays at...

Study Highlights Economic Impact of Cap-and-Trade Extension in Los Angeles

July 17, 2025

July 17, 2025

Governor Gavin Newsom and legislative leaders are pushing to reauthorize the program this year, citing its role in generating 287,000...

Man Arrested in Brentwood for Impersonating Firefighter During Palisades Fire

July 17, 2025

July 17, 2025

The suspect faces at least 28 criminal counts—including 23 felonies—spanning incidents from 2023 to May 2025 Federal and local law...

Mayor Bass Hails National Guard Withdrawal as Victory for Unity

July 17, 2025

July 17, 2025

The Pentagon’s decision to reduce the troop presence follows weeks of legal challenges and public demonstrations Mayor Karen Bass celebrated...

(Video) Did You Know Emma Chamberlain’s Coffee Shop is in Century City?

July 16, 2025

July 16, 2025

The outpost is a first for the popular influencer Did You Know Emma Chamberlain’s Coffee Shop is in Century City?...

Tesla Seen Nearly Crashing into West LA Home After Collision

July 16, 2025

July 16, 2025

Footage depicted a blue Prius on the road with significant front-end damage A crash involving injuries was reported around 12:30...

DUI Checkpoints to be Conducted Across LA This Weekend

July 16, 2025

July 16, 2025

The LAPD selects checkpoint sites based on data indicating high incidents of impaired driving-related crashes and arrests The Los Angeles...

Dodgers to Host Back to School Bash for Fire-Affected Families

July 16, 2025

July 16, 2025

The free event will offer free groceries, school supplies, outfits, haircuts, medical screenings, and carnival rides The Los Angeles Dodgers...

What to Expect at This Weekend’s “Conquer The Pier 5K and 1 Mile Race/Walk” in Venice

July 16, 2025

July 16, 2025

Proceeds will fund community programs, youth sports, and park enhancements The Conquer The Pier 5K and 1 Mile Race/Walk will...

LA Sees Second Straight Year of Homelessness Decline, Leaders Celebrate Progress

July 15, 2025

July 15, 2025

The survey, designed by the University of Southern California, reported a 17.5% drop—the largest two-year decrease on record The Los...

Hundreds of Red-Legged Frog Tadpoles Released in Santa Monica Mountains

July 15, 2025

July 15, 2025

Once widespread in California, red-legged frogs vanished from the Santa Monica Mountains by the 1970s Nearly 600 California red-legged frog...

Federal Judge Sides with Santa Monica, Other Local Governments Against Immigration Raids

July 15, 2025

July 15, 2025

Santa Monica Mayor Lana Negrete praised the ruling, saying it reaffirmed the city’s commitment to protecting residents from unjust detention...

California Hits Two-Thirds Clean Energy Milestone

July 14, 2025

July 14, 2025

This year, clean energy has powered the state for an average of seven hours daily, with over 90% of days...

Beverly Hills Plans Major Apartment Development Near Civic Center

July 14, 2025

July 14, 2025

The site, currently holding 13 residential units, is slated for demolition to make way for the new development A proposal...