We crunched the numbers to determine where single-family home prices are heating up. Our latest heat maps compares the first quarter median sales for 2017 to that of 2016 for The MLS™ primary areas. Here are the areas where single-family median sales prices are red-hot:
- Brentwood (60% increase; Q1-2017 Median Price: $4,096,000): It’s no surprise that homes in this coveted neighborhood are in high demand. The median sales price for single-family homes here landed above the $4 million mark, with a lofty $1.5 million difference compared to Q1-2016. Brentwood also ranked second in our first-quarter heat map for single-family homes sales volume.
- Beverly Hills (40% increase; Q1-2017 Median Price: $5,950,000): 90210 has become the land of million-dollar listings. The median price in this celebrity hot spot rose to nearly $6 million, with a lofty 40% increase in price. Compared to Q1-2016, the price went up by a staggering $1.7 million.
- Topanga (36% change; Q1-2017 Median Price: $1,190,000): Scenic Topanga topped the million dollar mark, with an increase in median sales price of $314,500. Prices rose by a respective 36%; they were $875,500 in Q1-2016.
- Cheviot Hills – Rancho Park (36% increase; Q1-2017 Median Price: $2,295,500): Tying with Topanga, Cheviot Hills – Rancho Park homes also had a price increase of 36%. This neighborhood may one of the the smaller areas on the map, but its median price is now nearly $2.3 million.Here’s the full breakdown:
Curious about condos and co-ops? Here’s our first quarter map for sales volume.
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