Free Market Analysis. What Is My Monterey Hills Condo Worth?

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://activerain.com/droplet/58DS

Free Market Analysis

What Is My Monterey Hills Condo  Worth?



Sales Prices Are Increasing

Inventory Challenges - Buyers Are Ready

What Is My Monterey Hills Condo or Townhome Worth?  

FREE MARKET ANALYSIS



This is a real estate market activity report for the hilltop community of Monterey Hills in the city of Los Angeles zip code 90042.  In this report I will share information regarding properties for sale, in escrow and sold in the first eleven months of 2017 with a sales comparison to the same time period i the two most recent years.   Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the community.

 

Monterey Hills is a community of various condos, apartments and townhomes in separate complexes along with a 16 home planned unit development(known as a P.U.D.).  The idyllic hillside setting is just east of the Arroyo Seco Parkway(110).  The Hill as it is sometimes called features nearly 20 different individual communities(each with their own homeowner association commonly referred to as a HOA) which range in size from 16 single family residences(again, the planned unit development I previously mentioned  to a 198 condominium complex(Eaton Crest one of the first to open).   Most of individual communities feature resort-like grounds with a pool and spa.  Some will feature sports courts, fitness centers, recreation/meeting rooms, saunas along with other amenities.  The hilltop location means there are often views from some units - park, city, pool, hillside and/or canyon.   It’s common to see people out-and-about in the community enjoying a stroll with a pet, a jog around the winding streets or relaxing in Budd Wiener Park.

 

The location is highly convenient to multiple freeways and two Gold Line light rail stations which makes commuting to Downtown Los Angeles as well as both the San Gabriel and San Fernando valleys relatively easy.   The USC Health Science Campus is nearby as well.  Surprisingly, the location remains somewhat under-the-radar when it comes to buyers looking for a very affordable lifestyle as I believe Monterey Hills continues to offer one of the best real estate values in Los Angeles today.  Additionally, the highly accessible location makes Monterey Hills a good choice for those looking to start or add to a long term rental investment strategy  

 

  • There are currently just three condos and no townhomes available for sale in Monterey Hills with an additional five properties(all condos, no townhomes) in escrow.  The units available for sale range in price from $420,000 to $479,900.   

 

  • From January through November, there have been 97 mls-reported closed transactions.  These sales range in price from $295,000 to $635,000 with an average sales price of $441,420(median sales price $440,000).  Nearly 90% sold at or above last list price for an average 101.80% sold-to-list price.   The average price per square foot stands at $391,60 for the eleven-month period.  

 

  • In the first eleven months of 2016, there were 93 reported sales ranging from $265,000 to $605,000 with an average price of $402,459(median $398,000).  More than 60% sold at list price or greater for an average of 100.23%,   The average price per square foot for the January through November 2016 time period was 338.50.   

 

There’s always a story behind the numbers and in this case inventory continues to be an issue in Monterey Hills.  Considering the number -- nearly 1600 --  residences in Monterey Hills, current low inventory of properties for sale continues to favor sellers.  Be aware condos and townhomes on the Hill need to be well-priced, well-presented and available to be seen.   Available to be seen?  That seems obvious, right?   Well, with a number of properties occupied with tenants - ease of showing is an important factor to consider when placing a property on the market for sale.

 

Buyers looking on The Hill as in other places in our area continue to be mindful of value and while the availability of units for sale is low, there are many buyers who may have seen most if not all in a certain price range.  Many buyers are quite aware of value.  

 

If you would like to know more about Monterey Hills real estate whether you are a prospective buyer or a homeowner thinking of selling contact me at 818.516.4393 cell.  I look forward to learning what is important to you.  

 

Published:   December 5, 2017

 

What Is My Monterey Hills Condo  Worth Today?

Free Market Analysis For Monterey Hills





 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,532,323
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Compelling reasons to call you for a a free market analysis for Monterey Hills condos, Michael. You are the one who deserves many calls from sellers - and buyers. 

Dec 07, 2017 11:11 AM #17
Rainmaker
1,949,698
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Buyers interested in a Monterey Hills condo better contact you soon!

Dec 07, 2017 01:55 PM #18
Rainmaker
3,231,993
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

How is everything in your world with the wild fire.

Good luck and success.

Lou Ludwig

Dec 07, 2017 07:08 PM #19
Rainmaker
1,673,807
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Your photo is just beautiful! I've said it before, I'll say it again, when it comes to marketing, you superbly tell the truth about current market conditions. That is one of the many reasons why I highly recommend you to others looking to buy in your area. 

May you have a nice day. 

Dec 08, 2017 09:32 AM #20
Rainmaker
833,734
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Michael Jacobs - You are the only agent I trust to give me the scoop on the condo market in Monterey Hills.  You know this market and I hope clients can see that. 

Dec 08, 2017 04:01 PM #21
Rainmaker
3,231,993
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

The Monterey Hills Condo has been an active market.

Good luck and success.

Lou Ludwig

Dec 08, 2017 07:33 PM #22
Ambassador
3,586,944
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

In our fast market values are constantly changing. I know you are the agent to call for data on Monterey Hills.

Dec 10, 2017 07:00 PM #23
Rainmaker
3,231,993
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

Have a productive week.

Good luck and success.

Lou Ludwig

Dec 10, 2017 08:39 PM #24
Rainmaker
2,520,370
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Free, Free, Free, Michael Jacobs that is the one word that always get the phone ringing my mom would always tell me.

 

Dec 16, 2017 08:09 AM #25
Rainmaker
550,540
Carla Freund
Keller Williams Preferred Realty - Apex, NC
Raleigh - Cary Triangle Real Estate 919-602-8489

Michael, I'm sure there are many homeowners who would love to know what their property is values at today.

Jan 23, 2018 06:12 PM #26
Rainmaker
4,502,302
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Monterey Hills home sellers will be in very good hands when they select you as their listing agent.

Mar 11, 2018 09:14 AM #27
Ambassador
2,250,913
An Idabel OK Broker ~ Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
BA, Integrity Real Estate Services -IDABEL OK

This market analysis helps sellers to determine what their home is worth after they visit with you about it and listen carefully to what you have to tell them.

Mar 12, 2018 08:26 AM #28
Rainmaker
327,414
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Michael, do you also cover San Marino? I may have someone there who wants to sell.

Mar 12, 2018 09:29 PM #29
Rainmaker
2,828,732
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Gwen - even if it's just a question about San Marino real estate , you can contact me through AR or my cell 818.516.4393.

 

 

 

 

Mar 13, 2018 12:04 AM #30
Rainmaker
1,136,576
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I see I'm late to the party with my comment here, Michael Jacobs ... but I'm hoping you don't mind.  I found your "report" and info shared of great interest.  Call me a stat nerd and a bit of a real estate geek, but I love reading the market reports you offer (and those of others here on the Rain).  I guess a sure sign of being bitten by the real estate bug ...

Well done!

Gene

Mar 14, 2018 09:18 AM #32
Rainmaker
1,474,567
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Michael - you do a great job with your market reports.  I hope you had a good first quarter.

Apr 08, 2018 05:53 AM #33
Rainmaker
545,521
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

For a FREE  MARKET ANALYSIS  of your Monterey  Hills Condo  see:

                    Michael Jacobs .  His years of experience, education, and
         and real estate market knowledge, will definitely tell you its' WORTH.

Apr 09, 2018 06:23 PM #34
Rainmaker
1,474,567
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Michael - in this Spring market buyers looking into Monterey Hills should contact you.

Apr 15, 2018 10:34 AM #35
Ambassador
1,620,113
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Michael,

This is informative data on Monterey Hill.  With price increasing and inventory low, this data will be helpful to both buyers and sellers.

And with your expertise, you can help sellers get the best price for their home. Or help buyers navigate multiple offer situations.

Apr 18, 2018 09:03 PM #36
Ambassador
2,644,171
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Michael,  I hope life and work are treating you very well my friend!

Apr 20, 2018 08:40 PM #37
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,828,732

Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
Ask me a question
*
*
*
*
Spam prevention

Additional Information