Monterey Hills Affordable Condos and Townhomes in Los Angeles Market Update
This is a real estate update for the Monterey Hills planned community for the first ten months 2015. Located within the city of Los Angeles(zip code 90042), Monterey Hills is comprised of various condominium and townhome complexes as well as one single family home development. Offering a desirable hilltop location which is highly convenient yet surprisingly unknown Monterey Hills offers relatively affordable real estate with terrific views, mature landscaping and resort-like settings.
The first residences in the area were built in 1979 with the latest, Bradley Court(the only single family residential community on The Hill) in 2000.
Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the planned community.
Why do people choose Monterey Hills? The location is ideal for commuting to Downtown Los Angeles, the USC Health Science Campus, both the San Gabriel and San Fernando valleys and even Los Angeles’ Westside. Multiple freeways are easily accessible as are two Gold Line light rail stations. While Monterey Hills is all residential -- there are a variety of shopping, dining, cultural, recreation, entertainment and higher education options quite close.
There are 20 different individual communities in Monterey Hills(each with its own separate homeowner association - HOA). Often called “The Hill” the complexes range from the 16 single family homes at Bradley Court(rarely on the market) to 198 condos at Eaton Crest. There are currently ten condos for sale ranging from $375,000 to $499,000. There are no townhomes currently available.
For the first ten months of 2015, there were 86 mls-reported closed sales ranging from $245,000 to $528,800 with an average sales price of $379,917(median sales price $379,500). They have 
sold at 100.74% of last list price and for $338.07 per square foot on average.
From January through October in 2014, there were 66 transactions. Those sales ranged from $248,000 to $745,000 (one of those rare Bradley Court homes I mentioned) with an average price of $373,510(median $359,250). They sold at 98.78% of last list price and for $317.69 per square foot on average. Inventory available for sale at beginning of November, 2014 was 15 properties versus the ten in this year’s report.
There’s always a story behind the numbers and much more detailed analysis is important if you are a homeowner thinking of selling or a buyer considering a purchase -- let’s discuss what is important to you. I can be reached at 818.516.4393 cell.
Published: November 3, 2015
Monterey Hills Affordable Condos and Townhomes in Los Angeles Market Update
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