Cheviot Hills Real Estate Market Update for the month of June 2014 compared to same month 1 year prior, June 2013. Source of the data is the Multiple Listing Service (www.themls.com). In the Cheviot Hills – Rancho Park area of West Los Angeles, during the entire month of June a total of 11 single family homes changed ownership. The homes were on the market for an average of just 29 days and sold for $734.11 per square foot. Another statistic of note is the buyers for Cheviot Hills – Rancho Park single family homes paid 100.96% of the asking price – so on average they are paying 1% above the asking price. The median price was $1,765,000 an impressive 18% increase.
During this same month one year prior, June 2013, a total of 14 single family homes sold in the Cheviot Hills – Rancho Park area. They took longer to find buyers, 41 days and sold for 20% less per square foot at $611.44 at a median price of $1,493,750.