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Monique Carrabba - The Carrabba Group's Blog

By Monique & Joe Carrabba | Agent in Los Angeles, CA
  • Hollywood Hills Real Estate Market Conditions

    Posted Under: Market Conditions in Hollywood Hills  |  April 29, 2010 5:03 PM  |  392 views  |  No comments

    So what are you waiting for? The Los Angeles Real Estate market is cyclical. What goes up must come down but over the years there are certain areas that people are attracted to: ocean areas and hillside areas are the most popular. What better place to call home than the Hollywood Hills? What’s the attraction? Finding yourself (after a long day) in the midst of nature. Tranquility and privacy. A woodsy cottage with trees surrounding you or a home perched on a hill with canyon views. There aren’t many mega-cities where one can be minutes from the hustle and bustle of the city and yet live in the country or in complete privacy. Aside from the homes in the Canyons, many homes in the Hollywood Hills feature sweeping views of Downtown or the ocean. Despite the housing market bust, the Hollywood Hills has survived although slightly wounded. The main school for most children is also a draw. Wonderland Elementary is one of the best public schools in the city.

    The stats are in! For year-to-date March 2009, the median home price for the Hollywood Hills/Sunset Strip was $1,225,000. For March 2010, the numbers are actually up to $1,290,000 for the median sales price. Volume is up as well. The total amount of sales for March 2009 was $76,654,195 . As of March 2010, the total year-to-date volume was $119,900,096! The current average days on market is 91 for homes that sell. With 317 actives and 27 sales at the close of March, that puts the total inventory at roughly 14 months. That’s both good news and bad news but with an area stung by the housing market bubble, the Hollywood Hills remains a location that is worth investing in as it certainly shows signs of recovering.

    Monique Carrabba
    The Carrabba Group
    Keller Williams Hollywood Hills
    P: (323) 899-2900

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