L.A. real estate news and insights.
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“Hot Home” alert in Sierra Madre.
Asking price: $1,198,000
This fixer-upper has 3 bed/2 bath, 1,794 sq. ft. of living space, and is on a 10,439 sq. ft. lot.
The home features original hardwood floors, a stone fireplace, laundry room, attached garage, stone driveway, solar panels, and central AC.
The backyard has a covered patio, wood decking, and a fenced-off pool.
Text me if you want a tour at 818-445-7953.
The pandemic triggered a suburban home rush, and more than a year in, that doesn’t appear to be letting up. Even as big cities stage a housing comeback, the suburbs remain hot.
The number of home buyers shopping nationwide for suburban homes has jumped 42.1% since the pandemic began, realtor.com®’s data shows. Suburban homes comprised 62% of online home views in September compared to 38% for listings in urban areas.
“The suburbs have always attracted home buyers looking for more house for their money, but recent data reflects just how much suburban competition has intensified,” says Danielle Hale, realtor.com®’s chief economist. “With the rise in long-term remote work options and downtown rents making a rapid comeback, suburban vs. urban housing dynamics are shifting.”
Suburban housing activity continues to accelerate at a faster pace than in urban areas, Hale says. Further, “the price premium is shrinking between notoriously expensive urban housing and suburban for-sale homes, typically known for more bargains,” Hale says.
Inventories are slim, however. The number of homes for sale in the suburbs was down 13% annually in September compared to 8% in urban areas, realtor.com® reports.
Prices are rising faster in suburban locales. In 2020, the suburbs outpaced their urban counterparts’ price growth for the first time since 2017. The median listing price per square foot reached $212 in the suburbs in September, which is 18% higher than a year ago and 28.4% higher than the pre-pandemic 2019 level, according to realtor.com®. On the other hand, the median listing price per square foot of urban homes was $226, 14.9%, and 25.4% higher than 2020 and 2019, respectively.
Here's an update on 2 "Hot Homes" that I told you about in October 2021.
Hot Home #1: Atoll Ave., Sherman Oaks
Asking price: $2,179,000
Sold price: $2,220,000
Hot Home #2: Griffith Park Dr., Burbank
Asking price: $975,000
Sold price: $1,112,000
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Studio City.
Asking price: $1,999,000
Mid Century Modern home - 4 bed/3 bath, 2,247 sq. ft. of living space, on a 7,996 sq. ft. lot.
The home features endless views from the 2 decks on the main floor and the private decks off every bedroom.
There are also high-end security doors, a camera system with an alarm, and low maintenance garden outdoors.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Lake Balboa.
Asking price: $1,075,000
The main house and ADU have a combined 5 bed/3 bath, 2,338 sq. ft. of living space, and is on a 6,517 sq. ft. lot.
The home features an open floor plan, a laundry area in the bonus room, and an ADU that is ready to bring in rental income.
"Hot Home” in Silver Lake.
Asking price: $2,695,000
This Victorian home has 4 bed/4 bath, 2,972 sq. ft. of living space, and is on a 4,799 sq. ft. lot.
The home features a paneled three-story staircase, cast iron fireplace from the 1870s, a stand-alone clawfoot soaking tub in the master bedroom, and there is a detached office/ studio in the backyard.
Text me if you want a tour at 818-445-7953.
Here's an update on 2 "Hot Homes" from earlier this year.
Hot Home #1: Hermosa Dr., San Gabriel
Asking price: $1,495,000
Sold price: $1,660,000
Hot Home #2: Rossmore Ave., Los Angeles
Asking price: $12,375,000
Sold price: $10,000,000
"Hot Home” alert in Newhall.
Asking price: $1,600,000
This home has 4 bed/3 bath, 3,460 sq. ft. of living space, and is on a 10,339 sq. ft. lot.
The remodeled home features new flooring throughout, top-of-the-line appliances in the kitchen, and a wrap-around porch.
The backyard has an oversized pool, firepit, patio, and mature trees.
Text me if you want a tour at 818-445-7953.
"Hot Home” alert in Burbank.
Asking price: $975,000
This home has 2 bed/1 bath, 1,183 sq. ft. of living space, and is on a 6,726 sq. ft. lot.
The kitchen and bathroom have been renovated.
There is an oversized 2.5 garage and a detached back cottage that could be an office, playroom, or ADU.
Text me if you want a tour at 818-445-7953.
"Hot Home” alert in Chatsworth.
Asking price: $1,399,000
This corner lot has 4 bed/3 bath, 2,539 sq. ft. of living space, and is on a 17,431 sq. ft. lot.
The home features a huge undeveloped area.
The master suite features a large walk-in closet, recessed lighting, and a full bath with a tub and separate shower.
Entertainers’ backyard with a pool, spa, covered patio large lawn area, and a 12’ high privacy hedge.
Text me if you want a tour at 818-445-7953.
Future home sellers need to look at this data! Rising inventory in the new-home market is giving buyers more choices. New-home inventory is at a 6.1-month supply, which is considered balanced for the market. That also is 74.3% higher than a year earlier. Inventory in the new-home market reflects a growing share of homes that have not yet started construction. 28% percent of the new-home inventory comprises homes in that category.
This means when you put your home up for sale next year, buyers will most likely be comparing it to newly constructed homes that are also on the market. Will they choose your property over a brand new home?
Source: National Association of Home Builders
Here's an update on 2 "Hot Homes" from earlier this year.
Hot Home #1: Garza Dr., Saugus
Asking price: $769,000
Sold price: $790,000
Hot Home #2: Longridge Ave., Sherman Oaks
Asking price: $2,125,000
Sold price: $2,099,000
"Hot Home” alert in Glassell Park.
Asking price: $1,199,100
Across the street from a cemetery, this Mid-Century Modern home has 2 bed/2 bath, 1,901 sq. ft. of living space, and is on a 9,551 sq. ft. lot.
This hillside hideaway features an open concept living and dining area, a master suite that has its own deck, and a loft space upstairs.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Echo Park’s Elysian Heights.
Asking price: $2,349,000
This A-frame cabin has 4 bed/3 bath, 2,676 sq. ft. of living space, and is on a 7,500sq. ft. lot.
The home features a detached 172 sq. ft. office space and an 1800 sq. ft. refinished deck that offers hillside/DTLA skyline views.
Text me if you want a tour at 818-445-7953.
Don't worry, I got a guy that can change the court to Laker purple and gold for you.
“Hot Home” alert in Toluca Woods.
Asking price: $2,300,000
This 2 story home has 4 bed/4.5 bath. 3,587 sq. ft. of living space and is on an 8,101 sq. ft. lot.
Text me if you want a tour at 818-445-7953.
