Submarket Snapshot: Single-family homes in Century City and Westwood

In the combined submarkets of Century City and Westwood, 40 single-family homes traded hands in the fourth quarter for an average of $2.1 million, up almost 16 percent from the average of $1.8 million in the same period a year earlier.

The median home price increased almost 16 percent to $1.8 million.

The average price per square foot rose almost 5 percent to $834.

Despite these increases, homes sat on the market for 11 percent longer than they did in the fourth quarter of 2014. Homes spent an average of 40 days waiting for buyers.