The 5 Hottest LA Real Estate Neighborhoods
Los Angeles County real estate has been on fire. Experts are saying that economic recovery does not even come close to explaining the ridiculous levels of interest in home buying. Cash is king and bidding wars are common.
Many will be surprised to learn that some of the hottest areas with some of the highest price increases do not include a Malibu 90265 zip code or a Beverly Hills 90210 zip code.
According to a report by Redfin, the five hottest Los Angeles real estate neighborhoods just so happen to be inner city communities. From June 2012 to June 2013, these areas reported the highest increases per square foot. Check out their top five listed cities.
Top Los Angeles Real Estate City #5 – Mid-Wilshire
The median price per square foot is $551, with an increase of almost 62% from June 2012 – June 2013, as reported by Redfin.
Top Los Angeles Real Estate City #4 – Central City
Many are surprised to learn that Central City is referred to specifically as South Los Angeles (near the University of Southern California) – Newton Division. Yes, we were surprised too. The median price per square foot is $205, with an increase of almost 63% from June 2012 to June 2013, as reported by Redfin.
Top Los Angeles Real Estate Neighborhood #3 – Downtown
The median price per square foot is $280, with an increase of almost 66% from June 2012 to June 2013, as reported by Redfin. Back in the day, several condominiums were converted to rentals in downtown Los Angeles. Today, they are turning back to saleable units.
Top Los Angeles Real Estate Neighborhood #2 – Silver Lake / Echo Park / Edendale
The median price per square foot is $575, with an increase of almost 81% from June 2012 – June 2013, as reported by Redfin. This area is known as the “Hipster Triangle.”
Top Los Angeles Real Estate Neighborhood #1 – Hollywood
The median price per square foot is $668, with an increase of nearly 193%, as reported by Redfin.
Top Los Angeles Real Estate Beach Neighborhood – Malibu
Click here to view the year-to-date Malibu market stats. TheMalibu real estate market is on fire as well. There’s only some much beach and so much land. Contact 4 Malibu Real Estate Partners to get a list of the best deals out there; Malibu beach homes and Malibu landside homes. Click here to view some of the best deals for sale in Malibu.
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