LA’s hottest neighborhoods for homebuyers, mapped
The map tracks single-family home sales during the last three months of 2017, finding which neighborhoods saw the largest increases in sales volume (the prices of every home sold added up) over the same time the year before.
In Ladera Heights, for instance, seven homes sold in the fourth quarter of 2016—for a combined total of roughly $7.3 million. In the final months of 2017, 18 homes sold for a total of $21.4 million. That’s a massive 193 percent increase.
Of course, not all that many homes sold in either quarter, so this may simply be a case of small sample size. To really get a sense of which neighborhoods saw increased buyer interest last year, we’ll take a look at areas with at least 20 sales in both the fourth quarter of 2016 and the fourth quarter of 2017. (Because the MLS doesn’t have data for neighborhoods in the San Fernando Valley, they weren’t included on the map.)
Under those guidelines, Marina del Rey jumps out as a clear point of interest for buyers in recent months. The seaside neighborhood saw sales volume jump 67 percent between the fourth quarter of 2016 and the same time a year later.
In the former period, 27 sales were recorded, and in the latter, 41 homes sold. The average sale price also shot up more than $100,000, landing around $1.8 million in the fourth quarter of 2017.
Other areas where sales volume shot up at least 30 percent include Eagle Rock (44 percent), Silver Lake/Echo Park (40 percent), Glassell Park (34 percent), Mid-City (32 percent), Westchester (32 percent), Downtown LA (31 percent), Santa Monica (31 percent), and Atwater Village (30 percent). (reprinted from Curbed LA)