Our Q1-2018 Market Climate Map in Sales Volume for Single-Family homes is here!
Here are the highest areas of growth this time around:
1. Mount Washington ( 41 homes sold, 91% increase)
The Mount Washington Neighborhood is a hilly oasis on the NorthEast side of Los Angeles. The area has a mix of historic homes and mid-century homes. Ease of access to Downtown LA, Highland Park, central L.A., Pasadena, Silver Lake, Glendale/Burbank, Hollywood is nice pluses for commuting. This area grew from $19.1 million in sales volume in Q1-2017 to $36.6 million in Q1-2018.
2. Los Feliz (43 homes sold, 68% increase)
Los Feliz grew from $53.9 million in sales volume in Q1-2017 to $90.5 million in Q1-2018. This suggests a drastic growth in the value of single-family homes in the area. The geography of the place is pretty great and makes the feeling of the neighborhood bustling, happy, and accessible, but private and quiet at the same time.
3. Palms-Mar Vista (64 homes sold, 39% increase)
Palms-Mar Vista has grown from $80 million in Q1-2017 to $111.5 million in Q1-2018. Ninety years ago, Mar Vista was little more than vast fields of lima beans — with an amazing view of the Pacific. Today, those ocean views have helped Mar Vista evolve into one of L.A. most desirable Westside neighborhoods, with skyrocketing property values to prove it.
4. Silver Lake-Echo Park (81 homes sold, 34% increase)
Silver Lake-Echo Park is an urban neighborhood West of LA and just NorthWest of Dodgers Stadium. Silver Lake and Echo Park are the epicenters of LA hipsterdom. Silver Lake is the more upwardly mobile of the pair, home to revitalized modernist homes. To the southeast lies grittier Echo Park, one of LA’s oldest neighborhoods. Silver Lake-Echo Park went from $67.6 million in Q1-2017 to $90.5 million Q1-2018.
5. Beverly Hills Post Office (30 home sold, 45% increase)
Beverly Hills Post Office put up some impressive numbers, growing from $61.6 million in Q1-2017 to $89.4 million in Q1-2018. We should expect this growth to continue in the time to come.