Los Angeles 90042 Monterey Hills Neighborhood 2016 Market Recap
This is a real estate market activity report for Los Angeles community of Monterey Hills. I will share sales information for 2016 along with a comparison to the two previous years. Statistical information in this report has been gathered from our local 
multiple listing service(mls) and may not reflect all transactions in the community. While the information is deemed reliable it has not been verified.
Monterey Hills is located just east of the Arroyo Seco Parkway(110) in Los Angeles zip code 90042 adjacent to the city of South Pasadena. It is highly convenient to multiple freeways and offers relatively easy access to Downtown Los Angeles and the USC Health Science Campus as well as both the San Gabriel and San Fernando Valleys and even LA’s Westside. Despite this very visible 
advantage, the community remains largely unknown likely due to the fact that it is primarily residential. I believe this makes Monterey Hills one of the best real estate values in the affordable segment of the Los Angeles real estate market. Construction of the various Monterey Hills condo and townhome complexes begain in the late 1970s and continued into the 1980s.
The hillside setting of Monterey Hills provides a sense of privacy with its mature landscaping, open space and rolling views. Many of the properties have canyon, hillside, parkside or city views.
The majority of the housing options in the community is comprised of thirteen different condominium complexes ranging in size from 30 to 198 units. These are single level units with one to two bedrooms/den(often marketed as three bedroom) floor plans. The complexes are generally nicely landscaped often with resort-like amenities including pools, spas, fitness centers and recreation/ meetin
rooms. Parking in the condo complexes is subterranean with elevator access to each floor.
There are also multi-story townhomes in seven complexes with attached private garages. This very desirable feature along with more square footage make the townhomes quite popular. The townhomes have two or three bedrooms. Many have bonus rooms, dens or lofts for additional space. These complexes also have pools and/or spas as well.
There is also one single family home development in Monterey Hills. A planned unit development(commonly referred to as P.U.D.) Bradley Court was introduced to the public in 2000 and consists of 16 homes. There are no common area recreational amenities here and due to its small number of homes, turnover has historically been very low.
Budd Wiener Park is a favorite gathering spot for many Monterey Hills residents. It’s home to various events which in the past have included community fairs, Movie Nights, the Monterey Hills Jazz Festival and others. It’s not uncommon to see people out and about on the streets of the community which also is known as “The Hill” --- joggers, walkers, strollers and dog walking.
Monterey Hills Condo Update
In 2016, there were 92 mls-reported condo sales ranging from $265,000 to $523,500 with an average sales price of $381,902(median sales price $384,750). Nearly 60% of these transactions sold at or above last list price for an average 99.49% for the year. The average price per square foot was $363.20 in 2016 according to our mls statistics.
During 2015, there were 81 closed transactions reported ranging from $245,000 to $443,000 with an average price of $361,994(median $370,000). They sold at 100.39% of last list price and for $340.08 per square foot on average in 2015..
In the same January through December time period in 2014, there were 67 sales. Those transactions ranged from $212,000 to $485,000 with an average price of $347,203(median $348,000). They sold at 98.71% of last list price and for $316.72 per square foot.
Currently, there are just six condos available for sale in Monterey Hills with an additional ten in escrow. When collecting data for this same report last year, there were eight condos on the market and in January 2015, there were twelve condos for sale.
Monterey Hills Townhomes Recap
In 2016, there were fifteen mls-reported sales of townhomes in Monterey Hills. Those transactions ranged from $386,000 to $605,000 with an average sales price of $513,207(median $521,500). All but two sold at or above last list price for an average 103.20% and average price per square foot of $346.22 for the year. Please note: that low sale of $386,000 sold in August in an all-cash transaction and then re-sold as a “flip” at its list price of $549,000 in December.
During 2015, there were 17 sales which ranged from $415,000 to $528,800 with an average price of $464,915(median $475,000). They sold at 101.67% of last list price and for $333.40 per square foot.
During 2014, there were thirteen transactions. The sales ranged from $374,000 to $505,000 with an average of $442,404(median $436,250). They sold at 102.39% of last list price and for an average sales price of $290.87.
The number of townhomes in Monterey Hills is much more limited than condos and the total for both is around 1600 properties. There are no townhomes currently available for sale or in escrow
Bradley Court Single Family Homes in Monterey Hills Recap
There were no mls-reported sales in Bradley Court in 2015 or 2016. This is not uncommon due to the limited number of single family homes in the community. In 2014, there was one sale. A home with approximately 1841 square feet sold for $745,000(list price $728,000). Previous to that, the last mls-reported sale was in 2011.
In Summary
The rather limited space in this report as well as the fact most people don't want to read lots of statistics can never fully tell the entire story about Monterey Hills real estate. The nuances of the market, the condition and updates of the properties(or lack thereof), the location within the complex(and the complex itself) along with other factors all come into play. If you are interested in learning more about life on The Hill, let’s discuss what is important to you. Whether you are a prospective buyer or a property owner thinking of selling, I’m interested in assisting you. I can be reached at 818.516.4393 cell.
Published: January 4, 2016
Los Angeles 90042 Monterey Hills Neighborhood 2016 Market Recap
Comments(22)