Everything you need to know about Baldwin Hills and real estate market trends in the area before you decide to make the move.
If you are interested in buying or selling a home in Baldwin Hills, CA, look no further. Here at Mel Wilson & Associates, we strive to fit you into your dream home - a home that manifests all of your desires and lifestyle requirements to perfection. Baldwin Hills, CA, is a residential community located in the southern region of Los Angeles. It overlooks the Los Angeles Basin and the northern plains. If you are interested in the Baldwin Hills, CA real estate and want to know more, keep reading. We’ve compiled a list of statistics for the area that will help you make your decision easier. Check out everything you need to know about Baldwin Hills, CA, and call Mel Wilson & Associates, the Los Angeles real estate experts, at (818) 993-4606 for any questions you may have.
Baldwin Hills, CA Housing Market Trends 2020 & Projections
In the last one year, the median home price in Baldwin Hills, Los Angeles, CA were risen by almost $100,000 - from $999,000 in January 2019 to $1,169,000 in January 2020. And, you could expect to see the average home cost rapidly increase over the next year. In fact, over the past month of February 2020, home prices in Baldwin Hills, CA hit $1.170M. But COVID-19 Outbreak definitely impacts the real estate prices. Since March 2020, the median list price dropped to $1.09M as reported for May 2020 but still trending up 9.8% year-over-year. The median sales price sees a drop from $1,374,000 in January 2020 to $895,000 in May 2020 and the median listing price per square foot was $499 reported for May 2020. Other median statistics include houses being on the market for 63 days. This trend for median days on market in Baldwin Hills, CA has gone down since last month, but slightly up since last year.
The homes being sold at 1.2% below asking price on average in May 2020, with a down payment of roughly 16.7%. This shows that Baldwin Hills, CA remains a buyer's market in May 2020, which means that the supply of homes is greater than the demand for homes.
Before the pandemic the real estate analysts were expecting the rising trend of housing market in Baldwin Hills continue to grow rapidly in the next 1-3 years till 2022 and were considering the 59.6% increase in home value over the past year stating the median home price to be doubled over the next year 2021. But the situation is different now and the housing market has faced a few changes. About 42% of buyers will delay their real estate purchases. 17% of buyers stopped looking for a property just because of the Pandemic and the job loss. Well, a lot of home sellers are preparing to list their properties when the economy re-opening will start. Things are constantly changing and there are many factors to consider before going to any conclusions.
Call Mel Wilson & Associates at (818) 993-4606 for more information about what to expect for Baldwin Hills’ housing market in 2020-2021.
- Median List Price$1.09M
- Median List Price Per Sq.Ft.$499
- Average Monthly Rent$2,540
- Median Sale Price$895K
What You Need To Know About Baldwin Hills, Los Angeles, CA
Are you interested in the area? You should be! It’s a gorgeous neighborhood community, and it’s a great place to settle down or purchase a nice big chunk of real estate. Baldwin Hills is a neighborhood within the south LA region of California. It has a small population of only 30,500 and has neighboring communities, including Ladera Heights, Culver City, Windsor Hills, Dockweiler, and many more. Baldwin Hills starts at Martin Luther King Boulevard and treads up the base of the hills of Baldwin Hills, known as “The Dons” by locals for the 29 streets beginning with the Spanish honorific. Baldwin Hills has a zip code of 90008, and the phone area code is 323.
About Baldwin Hills Real Estate Market Trends
Long story short, the Baldwin Hills real estate (as well as surrounding areas) is growing very rapidly, and prices are absolutely soaring. There are many big names who have decided to settle down in the area, including Lenny Kravitz, Tina Turner, and Issa Rae. Buyers and investors from all walks of life have grown to adore the historic homes in the area, and there is an all-around homey and family-oriented vibe to Baldwin Hills.
However, the recent news that came in April about The Los Angeles developer had agreed to pay more than $100 million for the 40-acre property at Baldwin Hills Crenshaw Plaza to remake the shopping center, one of the largest in the region, into a mixed-use complex in addition to offices for rent, shops, and restaurants, now does not seem going on the planned scale. As per Los Angeles Times news, the developer CIM Group has backed out of this pending deal in the face of opposition from activists in the mall’s South Los Angeles neighborhood, which is a big disappointment for the Baldwin Hills, CA real estate market.
However, there is a rapid growth in the surrounding areas of Baldwin Hills, including View Park, Ladera Heights, and Leimert Park. Known as a real estate paradise, Baldwin Hills and other southern Los Angeles neighborhoods have a double-digit price jump almost every year. Baldwin Hills is the place for you, especially if you are an investor looking to cash in on one of the hottest real estate markets with a total number of households 12,731 and a Median Household Income $43,294. There are 79 active listings for sale within Baldwin Hills residential boundaries, including open house listings, additionally, a lot of apartment rentals options with a median rent price of $2.54k. There are 34 schools comprising of 13 elementary schools, 9 middle schools, 5 high schools and 7 private & charter schools in Baldwin Hills, CA. Many people opt to live near Baldwin Hills because of its good reputation as well as its proximity to several parks and recreational centers. Other most sought after home features in Baldwin Hills, CA including houses with 2-Car Garage and Big Lot.
Contact Mel Wilson today to learn more about real estate trends and forecasts in Baldwin Hills and the surrounding areas.
- Total Population30,478
- Median Household Income$43,294
- Active Listings for Sale79
- Total Rentals57
- One Studio Apartment Rent$1400 - $1600
- 1-Bedroom Apartment Rent$1550 - $2300
- 2- Bedroom Apartment Rent$1575 - $2675
- 3- Bedroom Apartment Rent$1750 - $2874
Market Trends For The Surrounding Areas Of Baldwin Hills
Every neighborhood in Los Angeles stretches over roughly a 10-20 mile radius, and they are all jam-packed so close to each other. However, every neighborhood community has its own special dynamic and features. It’s important to understand the areas on the market that surround Baldwin Hills, CA because they are all soaring in prices and booming in the real estate market. Check out the most popular neighboring areas of Baldwin Hills, CA below.
With gorgeous ocean views, houses in Ladera Heights have an old school charm, and the area is filled with luxurious mid-century homes. Living in Ladera Heights is like being transported back in time. The median home price is roughly $1.3 million dollars.
Read This Article to Learn More: Ladera Heights Real Estate Market Trends And Forecast 2019 - 2020
Lower in price than other surrounding areas of Baldwin Hills, the average home price will generally set you back around $700,000. This area is packed with amazing places to eat and shop, and the houses generally face toward the south.
View Park is an absolutely lovely and lively neighborhood community. The real estate market in View Park is booming in popularity, and a simple three-bedroom home will easily cost you around $1.3 million dollars. The neighborhoods in View Park host summer concerts and regular movie nights.
The Leimert Park housing market is extremely competitive, and median home prices sit around $830k, but prices seem to climb a bit higher as every month passes. This thriving neighborhood contains luxurious eateries, and redevelopment plans are underway.
Contact one of our friendly specialists at Mel Wilson & Associates today to learn more about the areas surrounding Baldwin Hills, CA - they are all wonderful places to live, and we can help you buy the home of your dreams in any of the neighborhoods listed above.
Frequently Asked Questions About Baldwin Hills, Los Angeles, CA
You may have many questions now about Baldwin Hills, so let’s take a look at some of the most frequently asked questions about the neighborhood community. If we miss any of your questions, please give Mel Wilson & Associates a call today at (818) 993-4606, and one of our friendly representatives will help you resolve all questions and concerns.
1. How far is Baldwin Hills from the main city of Los Angeles?
Baldwin Hills is only 7.5 miles away from Los Angeles, easily accessed by taking I-10 West.
2. Is Baldwin Hills a nice area to live and raise a family?
Absolutely! It is by far one of the nicest, most popular, and safest places to live in the greater Los Angeles area. It is a very family-friendly neighborhood community with stunning houses and plenty of things to do.
3. Is Baldwin Hills a safe place to live?
Like every ‘town’, there are safe areas as well as areas that aren’t the safest, such as being downtown in the middle of the night. Baldwin Hills, however, is an area that many people move to in order to be in a safe suburb of Los Angeles.
4. How did Baldwin Hills get its name?
Baldwin Hills is named after the famous 19th-century land development pioneer and horse racer by the name of Elias J. “Lucky” Baldwin.
Feel free to contact Mel Wilson & Associates, Baldwin Hills, Los Angeles, CA real estate experts
for more information - we are happy to answer all questions. This is a big move for you, and we are more than happy to give you all the facts you need before you plunge into the real estate market. Give us a call today, and we can help you learn everything you need to know about Baldwin Hills and the surrounding areas.
Mel Wilson - Your Go-To Baldwin Hills Real Estate Experts
Moving to Baldwin Hills may be your dream, and we are ready to make your dream a reality. If this isn’t enough to convince you to make the move, call our office today at (818) 993-4606 and we will help you get ready for the transition. If you have any questions about the real estate market trends or living in this beautiful suburb of Los Angeles, get in touch with Mel Wilson & Associates today.