Los Angeles Real Estate: Comparing the numbers

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To get a sense of the real estate market, it’s best to narrow it down to smaller areas within Los Angeles. Let’s take a look at some of the cities located south of Ventura Blvd in the valley, for example, Tarzana, Encino, Sherman Oaks and Studio City. By living in those cities, you can actually make it to the Westside within 20 minutes.

If we observe the real estate market in those four cities within certain criteria, such as houses between two to five bedrooms and two to four bathrooms, and only mapping houses located south of Ventura Boulevard, we currently have 187 homes active and 236 homes sold in the last 3 months or currently in Escrow. Wow! That’s huge. The median price for those homes is around $910,000 with an average of 2,635 square feet which brings us to about $365 per square foot.

Now, if we look at the closest four cities on the Westside such as: The Pacific Palisades, Brentwood, Bel-Air and Beverly Hills with similar criteria, we have 221 homes currently active on the market and 216 homes sold in the last 3 months or currently in escrow. The median price is $1,475,000 with an average home size similar to the Valley of 2,561 square feet. The overall average price per square foot in those four cities is around $670.

So basically, for half the price, you can get the same-sized home with similar lot size; but, that is if you are prepared to drive an extra 20 minutes to get to the Westside from the Valley.

Philippe Rodrigue is a Real Estate professional with Partners Trust and specializes in Pacific Palisades and other westside L.A. communities. Outside of the office you might find Philippe at the Braemar Country Club located in Tarzana hitting some tennis balls or climbing a mountain in the Yosemite National Park. You can connect with Philippe on his Facebook page, Philippe Rodrigue, MBA and on http://twitter.com/philrodrigue.