Los Angeles 90042 Monterey Hills Neighborhood Market Recap 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://activerain.com/droplet/4YwY

Los Angeles 90042 Monterey Hills Neighborhood 2016 Market Recap

 

This is a real estate market activity report for Los Angeles community of Monterey Hills. I will share sales information for 2016 along with a comparison to the two previous years. Statistical information in this report has been gathered from our local Monterey Hills Los Angeles 90042 Affordable Condosmultiple listing service(mls) and may not reflect all transactions in the community.  While the information is deemed reliable it has not been verified.

 

Monterey Hills is located just east of the Arroyo Seco Parkway(110) in Los Angeles zip code 90042 adjacent to the city of South Pasadena.  It is highly convenient to multiple freeways and offers relatively easy access to Downtown Los Angeles and the USC Health Science Campus as well as both the San Gabriel and San Fernando Valleys and even LA’s Westside.   Despite this very visible Los Angeles 90042 Affordable Condos Near USC Health Science Campusadvantage, the community remains largely unknown likely due to the fact that it is primarily residential.  I believe this makes Monterey Hills one of the best real estate values in the affordable segment of the Los Angeles real estate market. Construction of the various Monterey Hills condo and townhome complexes begain in the late 1970s and continued into the 1980s.

 


The hillside setting of Monterey Hills provides a sense of privacy with its mature landscaping, open space and rolling views.  Many of the properties have canyon, hillside, parkside or city views.

 

Los Angeles Condos Near USC Health Science Campus

 

The majority of the housing options in the community is comprised of thirteen different condominium complexes ranging in size from 30 to 198 units. These are single level units with one to two bedrooms/den(often marketed as three bedroom) floor plans.   The complexes are generally nicely landscaped often with resort-like amenities including pools, spas, fitness centers and recreation/ meetinMonterey Hills The Hill in Los Angeles 90042rooms. Parking in the condo complexes is subterranean with elevator access to each floor.  

 

There are also multi-story townhomes in seven complexes with attached private garages. This very desirable feature along with more square footage make the townhomes quite popular. The townhomes have two or three bedrooms. Many have bonus rooms, dens or lofts for additional space. These complexes also have pools and/or spas as well.  

 

There is also one single family home development in Monterey Hills.  A planned unit development(commonly referred to as P.U.D.) Bradley Court was introduced to the public in 2000 and consists of 16 homes.  There are no common area recreational amenities here and due to its small number of homes, turnover has historically been very low.

 

Budd Wiener Park in Monterey HillsBudd Wiener Park is a favorite gathering spot for many Monterey Hills residents.  It’s home to various events which in the past have included community fairs, Movie Nights, the Monterey Hills Jazz Festival and others.   It’s not uncommon to see people out and about on the streets of the community which also is known as “The Hill” --- joggers, walkers, strollers and dog walking.   

 

Monterey Hills Condo Update

 

Monterey Hills Affordable Condos in Los Angeles

 

 

  • In 2016, there were 92 mls-reported condo sales ranging from $265,000 to $523,500 with an average sales price of $381,902(median sales price $384,750).   Nearly 60% of these transactions sold at or above last list price for an average 99.49% for the year.   The average price per square foot was $363.20 in 2016 according to our mls statistics.  

 

  • During 2015, there were 81 closed transactions reported ranging from $245,000 to $443,000 with an average price of $361,994(median $370,000). They sold at 100.39% of last list price and for $340.08 per square foot on average in 2015..  

 

  • In the same January through December time period in 2014, there were 67 sales.  Those transactions ranged from $212,000 to $485,000 with an average price of $347,203(median $348,000).  They sold at 98.71% of last list price and for $316.72 per square foot.  

 

  • Currently, there are just six condos available for sale in Monterey Hills with an additional ten in escrow.  When collecting data for this same report last year, there were eight condos on the market and in January 2015, there were twelve condos for sale.   

 

Monterey Hills Townhomes Recap

 

Townhomes in Monterey Hills

 

  • In 2016, there were fifteen mls-reported sales of townhomes in Monterey Hills.  Those transactions ranged from $386,000 to $605,000 with an average sales price of $513,207(median $521,500).  All but two sold at or above last list price for an average 103.20% and average price per square foot of $346.22 for the year.   Please note:  that low sale of $386,000 sold in August in an all-cash transaction and then re-sold as a “flip” at its list price of $549,000 in December.

 

  • During 2015, there were 17 sales which ranged from $415,000 to $528,800 with an average price of $464,915(median $475,000).   They sold at 101.67% of last list price and for $333.40 per square foot.  

 

  • During 2014, there were thirteen transactions.  The sales ranged from $374,000 to $505,000 with an average of $442,404(median $436,250).   They sold at 102.39% of last list price and for an average sales price of $290.87.   

 

  • The number of townhomes in Monterey Hills is much more limited than condos and the total for both is around 1600 properties.  There are no townhomes currently available for sale or in escrow

 

Bradley Court Single Family Homes in Monterey Hills Recap

 

Bradley Court Homes in Monterey Hills PUD

 

There were no mls-reported sales in Bradley Court in 2015 or 2016.  This is not uncommon due to the limited number of single family homes in the community.  In 2014, there was one sale.   A home with approximately 1841 square feet sold for $745,000(list price $728,000).  Previous to that, the last mls-reported sale was in 2011.

 

In Summary

 

Condos in Monterey Hills Los Angeles 90042The rather limited space in this report as well as the fact most people don't want to read lots of statistics can never fully tell the entire story about Monterey Hills real estate. The nuances of the market, the condition and updates of the properties(or lack thereof), the location within the complex(and the complex itself) along with other factors all come into play. If you are interested in learning more about life on The Hill, let’s discuss what is important to you.  Whether you are a prospective buyer or a property owner thinking of selling, I’m interested in assisting you.  I can be reached at 818.516.4393 cell.  

 

Monterey Hills Has Views

 

Published:   January 4, 2016

 

Los Angeles 90042 Monterey Hills Neighborhood 2016 Market Recap

 

 

 

 

 

 

 

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Rainmaker
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Les & Sarah Oswald
Eastvale Team Realty & Property Mgmt - Eastvale, CA
Broker, Realtor and Investor

Looking for the best representation? Michael Jacobs is the one you to call. 

Jan 04, 2017 07:20 AM #3
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Michael you are are the Realtor that knows more about the area.  Hope your phone is ringing.

 

Jan 04, 2017 07:24 AM #4
Rainmaker
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Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

That is a really comprehensive report Michael. It is amazing to me the number of homes that sell at or above list price. The dollars per sqft...wow! It seems with so little on the market right now prices will rise even with the interest rate boost.

Jan 04, 2017 07:26 AM #5
Rainmaker
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Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Michael, impressive numbers for 2016, I suspect 2017 will even see higher number of sales and prices. You are the real estate agent to call when buying or selling in Monterey Hills Los Angeles.

Jan 04, 2017 08:05 AM #6
Ambassador
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Great information about the Monterey Hills real estate market.  I love all of the photos you have included.

Jan 04, 2017 09:15 AM #7
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Michael, 

Once again, you have given us a great profile and recap of the Monterey Hills Neighborhood for 2016.  The pictures are lovely and give us a feeling of the mature landscaping you mentioned that lends privacy to the area.  

Sending you lots of rain, it has picked up here since we got home!

Jan 04, 2017 10:33 AM #8
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Michael Jacobs - Another thorough and outstanding report for Monterey Hills. It just proves you are the one to "go to" for the best advice on real estate in this area. 

Jan 04, 2017 11:52 AM #9
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Hello Michael Jacobs  buyers and sellers should call you for assistance when thinking of making a move . You certanly know  LA Monterey-Hills-neighborhood-market  . 

Jan 04, 2017 12:12 PM #10
Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Michael Jacobs This is one heck of a recap of the 2016 Monterey Hills neighborhood.  You are 100% accurate when you say statistics can never fully tell .... to get the full story of the market buyers and  sellers MUST hire you. 

 

Jan 04, 2017 03:47 PM #11
Rainmaker
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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Nice market update on the Monterey Hills neighborhood. I always like the photos you include for your areas Michael!

Jan 04, 2017 03:57 PM #12
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - There's a ton of useful information in this excellent market report. Buyers looking for affordable homes in the Pasadena area could do no better than working with you to find the right one.

Jan 04, 2017 04:32 PM #13
Rainmaker
4,043,557
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

For those considering a purchase or sale in the Monterey Hills neighborhood, one call to Michael Jacobs is all that is needed to get started down a successful path.

Jan 04, 2017 04:44 PM #14
Rainmaker
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Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Michael Jacobs - Your real estate posts are loaded with good local information, data, and insight!  I hope anyone looking to buy in the Monterey Hills neighborhood in Los Angeles will call you first!

Jan 04, 2017 06:42 PM #15
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

The Monterey Hills Neighborhood in Los Angeles California enjoyed an active real estate market 2016.

Good luck and success.

Lou Ludwig

 

 

Jan 04, 2017 06:55 PM #16
Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Michael - Monterey Hills looks like a nice affordable gem in your area.  I am sure you will be have buyers call you.

Jan 04, 2017 07:28 PM #17
Rainmaker
1,927,017
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Budd Weiner Park makes me think you can get beer and hotdogs in the park by Monterey Hills, LOL. But what I want to know is what are those purple flowers and those trees? How gorgeous!! Is spring coming early to Monterey Hills?

Jan 04, 2017 07:40 PM #18
Rainmaker
280,347
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

I was just going to say that those purple-flowered trees make me feel as if it is May. Although, on campus in Northern CA, they seemed to be blooming all year around.

Jan 04, 2017 08:08 PM #19
Rainmaker
2,784,959
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Thank you for stopping by and your comments on this update for Monterey Hills condos and Monterey Hills townhomes.   This hilltop Los Angeles 90042 community offers  a relatively affordable real estate opportunity for those looking for a convenient location yet somewhat "hidden".  

Jan 05, 2017 04:10 AM #20
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents and Steffy Hristova -- the jacarandas are usually at their most "purple" in mid-Spring around May and then a shorter burst of color in the Fall.  

I'm not sure if it's climate change or something else but the blooming season seems to be lasting longer in most recent years.   I chose this photo from my archives.   

Jan 05, 2017 04:17 AM #21
Rainmaker
1,927,017
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Jacarandas. That's a tough one to remember but I will try because we have the same tree by my nail salon in Land Park. It doesn't stay in its purple bloom for very long, but wow is it impressive!!! Thanks, Michael.

Jan 05, 2017 09:40 AM #22
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