Los Angeles Real Estate Prices – 1st Quarter 2015 vs 1st Quarter 2014
The map above shows the Los Angles MLS Market Climate Map for 1st Quarter 2015 vs. 2014 which is still very hot in most neighborhoods. The trendiest neighborhoods are on fire: Downtown LA, Playa del Rey, Playa Vista, and West Hollywood are all showing increases over 30%. Slightly below those bubble-like appreciation rates are the 20-30% increases in Culver City, Ladera Heights, Mt. Washington, Hollywood, Los Feliz, Boyle Heights, Pacific Palisades, and Bel Air. All but a few submarkets have seen double digit increases.
Commercial Real Estate prices in these neighborhoods tends to mirror the residential prices with certain exceptions. The large increases in price of housing in Culver City, Playa Vista, and Playa del Rey coupled with the continued high residential prices in Venice, Santa Monica, and Marina del Rey, are partially a result of the Silicone Beach office market strength in those communities. The Downtown LA retail market, particularly restaurants, continue to rise making the area one of the trendiest place to live and work. Other east side neighborhoods are seeing a similar trend in the retail and residential housing markets. Whether someone wants to lease a store or buy a house, prices have shot through the roof in the formerly affordable neighborhoods of Highland Park, Boyle Heights, Metro LA, Eagle Rock, Atwater Village, Montecito Heights, and Cypress Park.
The Vars Realty home market of Culver City, California, had a very strong 2014 and first quarter of 2015. Real Estate Investors have been please with both residential and commercial investment returns.
Culver City Residential Sales Data is as follows:
| Median Sales Price | ||||||
| No. | Area | 1st Q 2014 | 1st Q 2015 | Change | ||
| 28 | Culver City | $740,000 | $950,000 | 28% | ||
This blog post is related to Los Angeles Real Estate Market Prices – 4th Quarter 2014 vs. 2013
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