Free Market Analysis. What Is My Monterey Hills Condo Worth?

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
https://activerain.com/droplet/58DS

Free Market Analysis

What Is My Monterey Hills Condo  Worth?



Sales Prices Are Increasing

Inventory Challenges - Buyers Are Ready

What Is My Monterey Hills Condo or Townhome Worth?  

FREE MARKET ANALYSIS



This is a real estate market activity report for the hilltop community of Monterey Hills in the city of Los Angeles zip code 90042.  In this report I will share information regarding properties for sale, in escrow and sold in the first eleven months of 2017 with a sales comparison to the same time period i the two most recent years.   Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the community.

 

Monterey Hills is a community of various condos, apartments and townhomes in separate complexes along with a 16 home planned unit development(known as a P.U.D.).  The idyllic hillside setting is just east of the Arroyo Seco Parkway(110).  The Hill as it is sometimes called features nearly 20 different individual communities(each with their own homeowner association commonly referred to as a HOA) which range in size from 16 single family residences(again, the planned unit development I previously mentioned  to a 198 condominium complex(Eaton Crest one of the first to open).   Most of individual communities feature resort-like grounds with a pool and spa.  Some will feature sports courts, fitness centers, recreation/meeting rooms, saunas along with other amenities.  The hilltop location means there are often views from some units - park, city, pool, hillside and/or canyon.   It’s common to see people out-and-about in the community enjoying a stroll with a pet, a jog around the winding streets or relaxing in Budd Wiener Park.

 

The location is highly convenient to multiple freeways and two Gold Line light rail stations which makes commuting to Downtown Los Angeles as well as both the San Gabriel and San Fernando valleys relatively easy.   The USC Health Science Campus is nearby as well.  Surprisingly, the location remains somewhat under-the-radar when it comes to buyers looking for a very affordable lifestyle as I believe Monterey Hills continues to offer one of the best real estate values in Los Angeles today.  Additionally, the highly accessible location makes Monterey Hills a good choice for those looking to start or add to a long term rental investment strategy  

 

  • There are currently just three condos and no townhomes available for sale in Monterey Hills with an additional five properties(all condos, no townhomes) in escrow.  The units available for sale range in price from $420,000 to $479,900.   

 

  • From January through November, there have been 97 mls-reported closed transactions.  These sales range in price from $295,000 to $635,000 with an average sales price of $441,420(median sales price $440,000).  Nearly 90% sold at or above last list price for an average 101.80% sold-to-list price.   The average price per square foot stands at $391,60 for the eleven-month period.  

 

  • In the first eleven months of 2016, there were 93 reported sales ranging from $265,000 to $605,000 with an average price of $402,459(median $398,000).  More than 60% sold at list price or greater for an average of 100.23%,   The average price per square foot for the January through November 2016 time period was 338.50.   

 

There’s always a story behind the numbers and in this case inventory continues to be an issue in Monterey Hills.  Considering the number -- nearly 1600 --  residences in Monterey Hills, current low inventory of properties for sale continues to favor sellers.  Be aware condos and townhomes on the Hill need to be well-priced, well-presented and available to be seen.   Available to be seen?  That seems obvious, right?   Well, with a number of properties occupied with tenants - ease of showing is an important factor to consider when placing a property on the market for sale.

 

Buyers looking on The Hill as in other places in our area continue to be mindful of value and while the availability of units for sale is low, there are many buyers who may have seen most if not all in a certain price range.  Many buyers are quite aware of value.  

 

If you would like to know more about Monterey Hills real estate whether you are a prospective buyer or a homeowner thinking of selling contact me at 818.516.4393 cell.  I look forward to learning what is important to you.  

 

Published:   December 5, 2017

 

What Is My Monterey Hills Condo  Worth Today?

Free Market Analysis For Monterey Hills





 

 

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Rainmaker
560,522
Carla Freund
Keller Williams Preferred Realty - Apex, NC
Raleigh - Cary Triangle Real Estate 919-602-8489

Michael, I'm sure there are many homeowners who would love to know what their property is values at today.

Jan 23, 2018 06:12 PM #26
Rainmaker
4,654,686
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Monterey Hills home sellers will be in very good hands when they select you as their listing agent.

Mar 11, 2018 09:14 AM #27
Ambassador
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1 ~Judi & Don Barrett & Chassy Eastep - Integrity
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

This market analysis helps sellers to determine what their home is worth after they visit with you about it and listen carefully to what you have to tell them.

Mar 12, 2018 08:26 AM #28
Rainmaker
337,122
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

Michael, do you also cover San Marino? I may have someone there who wants to sell.

Mar 12, 2018 09:29 PM #29
Rainmaker
2,898,735
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Gwen - even if it's just a question about San Marino real estate , you can contact me through AR or my cell 818.516.4393.

 

 

 

 

Mar 13, 2018 12:04 AM #30
Rainmaker
1,150,557
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I see I'm late to the party with my comment here, Michael Jacobs ... but I'm hoping you don't mind.  I found your "report" and info shared of great interest.  Call me a stat nerd and a bit of a real estate geek, but I love reading the market reports you offer (and those of others here on the Rain).  I guess a sure sign of being bitten by the real estate bug ...

Well done!

Gene

Mar 14, 2018 09:18 AM #32
Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Michael - you do a great job with your market reports.  I hope you had a good first quarter.

Apr 08, 2018 05:53 AM #33
Rainmaker
597,294
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

For a FREE  MARKET ANALYSIS  of your Monterey  Hills Condo  see:

                    Michael Jacobs .  His years of experience, education, and
         and real estate market knowledge, will definitely tell you its' WORTH.

Apr 09, 2018 06:23 PM #34
Rainmaker
1,547,609
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Michael - in this Spring market buyers looking into Monterey Hills should contact you.

Apr 15, 2018 10:34 AM #35
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Michael,

This is informative data on Monterey Hill.  With price increasing and inventory low, this data will be helpful to both buyers and sellers.

And with your expertise, you can help sellers get the best price for their home. Or help buyers navigate multiple offer situations.

Apr 18, 2018 09:03 PM #36
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Michael,  I hope life and work are treating you very well my friend!

Apr 20, 2018 08:40 PM #37
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I am running out of pondering blog post from you. Send help Michael Jacobs 

Apr 29, 2018 08:19 AM #38
Ambassador
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Michael, A wealth of information is packed in this post on Monterey Hill condos.

Good time for sellers to take you up on your offer.

May 17, 2018 08:32 PM #39
Rainmaker
3,568,229
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, hope you have had many call you to see how much their Monterey Hills home is worth!  

May 22, 2018 06:40 AM #40
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Michael, I came by a few months late on your post here and when I see Lou's photo pic next to his comment it saddens me ;o(

Hope you had a wonderful Memorial Day 2018 and ...

I wrote a new post about reaching out to ActiveRain members that are following me at the AR network, your name showed up #129 on my list ;o)

May 29, 2018 07:56 AM #41
Rainmaker
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Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I was just wishing you had maybe started blogging again...pondering and such.

Missing you.

Jun 11, 2018 04:49 PM #42
Rainmaker
3,450,506
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good afternoon Michael Jacobs,

I like Sharon Tara are missing your posts! You always write the best market reports and your pondering posts are ones we all enjoy! Wishing you a Happy July 4th!

Jul 04, 2018 12:31 PM #43
Rainmaker
1,976,114
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Oh the pondering...how I miss those posts in particular. Dorie Dillard and I want you back Michael!

Jul 04, 2018 01:37 PM #44
Rainmaker
2,633,815
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Michael still miss your Pondering Sunday blogs, you need to get back into writing again, break shouold be over.

 

Jul 16, 2018 07:45 AM #45
Rainmaker
708,000
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Sales prices are increasing. 

Great. 

In our market I'd say - Listing Prices are increasing. :)

Jul 20, 2018 03:23 PM #46
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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