Sales Volume and Median Price Increase in Los Angeles Neighborhoods

 

Corey Nelson pic

Corey Nelson
Image: sothebyshomes.com

Corey Nelson serves as a realtor for Sotheby’s International Realty and represents buyers and sellers of homes and investment properties. Based in California, realtor Corey Nelson ranks in the top three percent of all nationwide sales associates for Sotheby’s parent company, NRT, and primarily handles real estate in Hollywood Hills and the surrounding Los Angeles neighborhoods.

In recent months, the median home price in Los Angeles county has quickly risen above the pre-recession record of $550,000. Some analysts expect this trend in toward higher prices to continue, as demand will soon likely outgrow new supply in the area.

This increase was seen throughout most of Los Angeles’ neighborhoods. Atwater Village experienced the largest boost in year-over-year sales volume between the second quarter of 2016 and that of 2017, and the average sale price of these homes within this neighborhood jumped from $730,106 to $763,230. Meanwhile, other pricier neighborhoods within the city, including Playa del Rey, Los Feliz, and Cheviot Hills, have experienced between 86 and 128 percent higher sales volumes.

The upscale neighborhoods in LA aren’t the only ones to see a growth in popularity. Certain areas in Northeast and South LA have also grown, including Cypress Park, South Inglewood, and Ladera Heights. All of these areas experienced a sales volume increase of more than 30 percent.

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