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

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://actvra.in/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





 

 

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Rainmaker
3,221,599
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

This would be a good time to list and sell a Monterey Hills townhome or condo in Los Angels California 90042.

Good luck and success.

Lou Ludwig

Dec 05, 2017 08:12 PM #5
Rainmaker
2,483,286
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael nice to see you back on the treadmill of greater Pasadena Market reports, your clients missed them, Endre

Dec 05, 2017 11:46 PM #6
Rainmaker
3,708,249
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Dec 06, 2017 02:43 AM #7
Rainmaker
3,928,224
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for keeping us informed about the Monterey Hills community in LA, Michael.  Anyone considering a purchase or sale in the area should give you a call.

Dec 06, 2017 05:18 AM #8
Rainmaker
1,249,290
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Wow Michael, this report is filled with a ton of info on the Monterey Hills market! Hope you guys are not getting smoked out in your neck of the woods.

Dec 06, 2017 07:02 AM #9
Rainmaker
1,890,698
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

Only 16 single family homes out of all those other Monterey Hills developments? How often do one of those come on the market, Michael? Although, I have to say, the prices for those condos seem very affordable to me when so much else in your area is so expensive!

Dec 06, 2017 09:09 AM #10
Ambassador
3,066,103
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Michael- you always have such thorough knowledge of communities in your area. Any buyer or seller would do well to contact you if they were interested in selling or buying in the Pasadena area. 

Dec 06, 2017 05:21 PM #11
Rainmaker
3,221,599
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

The free market analysis offers the condo owners very useful information.

Good luck and success.

Lou Ludwig

Dec 06, 2017 07:32 PM #12
Ambassador
2,516,639
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

It is about time we get your reknown market reports again Michael Jacobs 

Dec 06, 2017 10:11 PM #13
Rainmaker
2,563,788
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Well welll...he's baaaack....and what a warm welcome you received !

Dec 07, 2017 03:59 AM #14
Rainmaker
2,659,874
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

It's so easy to find out what your Monterey Hills condo is worth. Just call Realtor Michael Jacobs and he can show you and sell you a condo!

Dec 07, 2017 07:22 AM #15
Rainmaker
3,225,188
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, glad to see the Monterey Hills market report back, and sure your readers are too!   

Dec 07, 2017 09:18 AM #16
Ambassador
1,398,039
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
1,891,314
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
3,221,599
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
1,582,057
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
742,816
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
3,221,599
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
3,365,119
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
3,221,599
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
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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