by Jodi Summers
The aggregate value of real estate in Santa Monica currently stands at $29 billion, according to the Los Angeles County Office of the Assessor.
The aggregate value of property in Los Angeles County totaled $1 trillion > $62 billion increase from the prior year – a.k.a. a 6% rise in value.
“While the largest factor for the increase this year was residential real estate, international investors are also pouring money into large mixed use projects in downtown L.A., including projects like the Wilshire Grand Tower and 
Metropolis,” observes Anthony Crump, Special Assistant of Communications at the County Office of the Assessor.
The California Association of Realtors looks broader and notes that statewide, the median price rose over the 12 months ending in August by 8.9% to $480,280, the highest recorded since 2007.
Real estate in Santa Monica escalates exponentially. If we look at Clarus Market Metrics calculations on the sale price of all residential properties in Santa Monica – houses, condos and apartment properties – from September 2013 to 2014 the median sold price is up 40%...
Continued @ http://www.santamonicapropertyblog.com/?p=5814
Comments(1)