Melrose Village Monthly Real Estate Market Update

RealEstateMarketUpdatePhotoBy Thomas Hilel, Realtor

The real estate market in Los Angeles as a whole has been quite strong as of late, continuing on a multi-year trend that started in mid 2012 when the market as a whole bottomed out and the activity in our neighborhood is providing some of the best evidence of that. Between developers looking for projects, investors on the hunt for rental properties and owner/users; demand remains quite strong.

The overall level of transactions is up compared to this time last year with no indication of a decline in the near future.  For those looking to sell or trade up, this represents a fantastic time to make a move.  Whether you are looking to cash out or simply use your equity to trade up into a larger property, your timing couldn’t be better, it seems that almost every transaction I am involved in has multiple offers and ends up selling at over the asking price.

For those looking to enter our market, excitement about all the new happenings has never been more pronounced, inventory remains tight, but serious buyers who are working with great agents (naturally) are still finding wonderful homes.  Historically low interest rates continue to make ownership affordable (relatively speaking), and the opening of Spartina and Top Chef alum Marcel Vigneron’s Wolf add two more very exciting restaurants to the mix.

ADDRESSSOLD PRICEBEDBATHS.FLOT SIZE
7722 CLINTON ST$820,000228102,251
7216 Waring AVE$750,000217292,475
7412 WARING AVE$982,500211,1203,626
735 N STANLEY AVE$1,279,500321,5006,298
506 N GARDNER ST$1,350,000211,4236,103
7514 CLINTON ST$1,295,000221,4362,846
439 N MARTEL AVE$1,500,000321,7866,999
724 N SPAULDING AVE$1,634,000321,7346,501
734 N GENESEE AVE$1,585,000231,4486,490
612 N SIERRA BONITA AVE$1,580,000432,0856,500
741 N ORANGE GROVE AVE$1,750,000321,9506,043
748 N DETROIT ST$2,650,000565,3216,666
635 N SIERRA BONITA AVE$2,800,000563,8105,851
635 N GARDNER ST$2,900,000453,3625,838
534 N STANLEY AVE$3,000,000454,3056,499
607 N CURSON AVE$3,210,000564,3396,500
538 N FULLER AVE$3,325,000454,6007,333

Contact Thomas Hilel via email here

Posted in Area News Blog Achieve, Area Real Estate

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