Our latest heat map takes a look at where median sales prices for single-family homes are rising the fastest (comparing Q4-2016 to Q4-2015) . Here’s where we are seeing growth:
- Metropolitan: This area experienced a 155% increase in median sales price, but note this was based off the the sale of just one property in Q4-2016 and Q4-2015.
- Montecito Heights: More tellingly, Montecito Heights had a 54% increase in median sales price, based off 13 sold listings in 2016 compared to 9 sold listings in 2015.
- Hollywood: The median sales price in “La La Land” increased by 45%, rising from $919,0000 (Q4-2015) up to $1.33 million (Q4-2016).
- Beverlywood Vicinity: This area’s median sales price rose from $965,000 in Q4-2015 to $1,334,000 in Q4-2016, with a 38% increase.
- Topanga: Tied with Beverlywood Vicinity, this area also experienced a 38% increase; the median sales price went from $850,000 in Q4-2015 to $1,171,700 in Q4-2016.Here are the full stats:
Not surprisingly, both Metropolitan and Montecito Heights also landed in the top slots in our Q4 heat map based off single-family homes sales volume.