Eaton Crest Condos in Monterey Hills
A Market Update - June 2017
This is a real estate market activity report for the Eaton Crest condominium complex in the hilltop community of Monterey Hills. In this report I will share activity so far in 2017 as well as closed sales for the previous six years. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the complex.
Eaton Crest is the largest condominium complex within the Monterey Hills community. Monterey Hills is a community of different condo and townhome complexes and one neighborhood of 16 single family homes in the city of Los Angeles (zip code 90042). It is located just east of the Arroyo Seco Parkway adjacent to the city of South Pasadena and convenient to Downtown Los Angeles and the USC Health Science Campus.
While highly accessible via multiple freeways and two nearby Gold Line light rail stations, Monterey Hills remains very much under-the-radar. This makes it, in my opinion, one of Los Angeles’ best kept and affordable real estate secrets. It really is a great place for first time homebuyers, investors with a long term strategy and for those people looking for a convenient location at a very reasonable price.
With 198 single level condos, the Eaton Crest was built in 1981. There are two separate buildings in the complex: 4499 Via Marisol and 4589 Via Marisol. There are a total of four entrances with lobbies and elevator access to each floor.
The well-maintained grounds feature a pool, spa, mature landscaping, a recreation/meeting room and common area laundry facilities throughout the complex(although most units have in-unit laundry connections). Parking is subterranean and there is guest parking on site.
The floor plans range in size from a studio unit(only one such in the complex and in all of Monterey Hills) to two bedrooms/den/two baths(often called three bedrooms). First floor units typically have large patio areas often nearly as large as the units themselves. Some of the top floor units in the 4499 Via Marisol building have taller ceilings, clerestory windows and skylights.
There are two Eaton Crest condos currently available for sale. There is a two bedroom/two bath unit with an remodeled kitchen and approximately 1139 square feet priced at $420,000. The second unit is a newly listed two bedroom/one bath floor plan with approximately 1025 square feet priced at $398,000. So far in 2017, there have been four mls-reported closed sales ranging from $295,000 to $435,000 with an average sales price of $356,500(median sales price $348,000). Three out of the four sold above last list price for an average 101.65% so far this year. The average price per square foot stands at $370.61 year-to-date.
In 2016, there were eight reported closed transactions in Eaton Crest. The sales ranged from $289,900 to $408,000 with an average of $336,175(median $323,000). All but one sold at or above last list price for an average of 100.43% for the year. The price per square for was $372.87 average.
There were thirteen reported sales for full year 2015. Those transactions ranged from $272,000 to $425,000 with an average sales price of $341,208(median $342,000). They sold on average at 100.31% of last list price and for an average price per square foot of $342.62.
During 2014, 14 sales were reported ranging from $212,000 to $399,900. The average sales price for the period was $337,993 (median $343,500). They sold at 99.56% of last list price with nine of those sales at or above last list price. The average price per square foot for the transactions was reported as $325.32.
In 2013, there were 13 closed transactions in the complex ranging in price from $235,000 to $357,000 with an average sales price of $304,515(median $290,000). The average sales price was 102.17% of the last list price and the average price per square foot was $289.41.
In 2012, there were nine sales in the complex which ranged in price from $155,000 to $270,000 with an average sales price of $227,372(median $240,000) with an average price per square foot of $212.36.
In 2011, there were eleven sales ranging in price from $187,950 to $203,000 with an average sales price of $244,708(median $240,000).
This report is meant as an introduction and overview of the Eaton Crest condo community in Monterey Hills. In order for a prospective buyer or seller to determine a strategy to purchase or to successfully market a condo here, a more detailed look at the market is necessary.
This report is general in nature and can be impacted by the mix of sales. When looking at an individual condo many different factors come into play including location within the complex, condition, upgrades(or lack thereof), emotional appeal and the crucial element of timing. If you would like to discuss real estate in Eaton Crest or any Monterey Hills complex, I can be reached at 818.516.4393 cell. Let’s discuss what is important to you.
Published: June 17, 2017
Eaton Crest Condos in Monterey Hills