March/First Quarter 2012 Market Report - Monterey Hills CA
Stanford Terrace in Monterey Hills
The Monterey Hills community is located within the city limits of Los Angeles and offers a variety of condominiums, townhomes and one single family development in a planned environment. Most communities within Monterey Hills offer a pool, spa and recreation/meeting room with some complexes boasting saunas, tennis/sport courts and other amenities.
Cabrillo Villas Townhomes in Monterey Hills
This desirable close-in location offers a relatively easy commute to Downtown Los Angeles, the Valleys(San Gabriel and San Fernando) and Los Angeles’ Westside. Due to it close proximity to USC School of Medicine/Health Service Campus, many find Monterey Hills an excellent opportunity to purchase and live during residency or as an investment property. Despite the highly convenient location, Monterey Hills remains a bit of an undiscovered treasure.
Monterey Hills - March Market Monthly Report 2012 vs 2011
In March 2012, there were eight sales according to our local multiple listing service records in Monterey Hills. They ranged in price from $160,000(a one bedroom in Wilson Summit) to $465,000(a short sale in Bradley Court) with an average monthly sales price of $288,363(median price $242,500). In March 2011 the sales price ranged from $224,000 to $393,900 and an average sales price of $286,613(median price $246,000).
Currently there are eleven properties on the market for sale ranging in price from $229,000(bank owned unit in Eaton Crest) to $385,000(Portola Terrace townhome). My March 2011 market report showed 37 units on the market -- obviously inventory of homes available in Monterey Hills -- needs a Spring Push! There are seven properties in escrow.
Drake Terrace in Monterey Hills
Monterey Hills - First Quarter Market Report 2012 vs 2011
First Quarter 2012 sales results reflect 15 sales ranging in sold price from $155,000 to $465,000 and an average sales price of $267,860(median $240,000). This compares to 2011 sales results of twelve properties for the quarter with the range of $218,000 to $393,900 and an average of $280,900(median $257,500). It looks like it is time for Monterey Hills homeowners who are in a position to sell to consider while inventory is low and buyer interest remains strong.
If you would like to know more about Monterey Hills or any northeast city of Los Angeles foothill community contact Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com
Huntington Terrace in Monterey Hills
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