Ladera Heights is a new city that is growing rapidly in terms of its popularity. This popularity is based on the real estate properties in Ladera Heights
, which are one of the best investment options in California. According to the prediction of real estate experts
, the real estate business in Ladera Heights will continue to flourish in the year 2019-20. The area lies just wet to Culver City, with Baldwin Hills to its north with relatively less population; which makes it ideal for real estate agents. Ever since the demand for prices has increased in the real estate business, it has brought success to the seller’s fortune. Although the Ladera Heights property dealings are growing day by day, they still have a long way to grow to make it the perfect destination for buyers.
Ladera Heights Housing Market Trends 2019-2020
The average value of a home in Ladera Heights costs you $1,341,700. The values of homes in the area have increased about five percent over the past years, which has experts wondering that the prices will rise by about 2 percent in the year 2019-2020. Foreclosures have also influenced a lot of the values of housing in Ladera heights and will be a prominent factor in the increase of rates of housing property in the area for about a decade. According to the facts reported by Willow, Homes in Ladera Heights 0.0 are foreclosed (per 10,000); which is lower than the Los Angeles-Long Beach-Anaheim Metro value of 0.4 and also lower than the national value of 1.2. The median percentage of Ladera Heights homeowners underwater on their mortgage is 2.8%, which is a lot lower as compared to Los Angeles-Long Beach at 4.1%.
Ladera Heights Real Estate Market Insight
According to the trends in housing and real estate business in Ladera Heights, the average prices are expected to rise in the remaining year of 2019, and in the year 2020 as well. This is because the location is new, and the population is less, as well as the market, has been growing in Ladera Heights a lot in the past decade. But the rising prices are always slow, which is why the buyer needs not to rush. The extreme rise in pricing leads to no buyers, so creating a gradual effect is the key to maintain the marketing insight of the real estate in an area and create a balanced market.
How is Ladera Heights Housing Market Trends?
- Median List Price$1.2M
- Median List /Sq.Ft.$473
- Median Sale Price$905K
- Median Rent per Month$4,855
Ladera Heights Real Estate Market Trends - Forecast 2019 and 2020
You can say that the Ladera Heights housing market is indeed competitive as compared to other growing areas. This can be observed by the average sale price of a home in Ladera Heights. According to RedFin
, the price of an average home in the area was $835K last month, up 35.7% since last year. The average sale price per square foot in Ladera Heights is $506, down 0.099% since last year. Currently, the Ladera Heights property is expected to be at a median total of $905k, with the average down payment of 71.1 percent. Considering the current progress, it can be predicted that the trends in real estate market in Ladera heights will rise about 1 percent in the remaining year of 2019, and about 1.5 percent for the year 2020.
The Economy of Ladera Heights
The Economy of Ladera Heights may be less as compared to other areas, but the conditions are quite stable. This is because of the growing business, constructions, increase in property selling in the area that boosts the economy of the place. In the past decade, the employment conditions have also improved a lot in the area because of the development of property and business in the sector. We can say that the median household income of Ladera Heights residents is approximately $118,000, while the median household of Los Angeles County is $56,19! Now, isn’t that surprising? You might be considering Los Angeles to be the golden city of growth and opportunities, but Ladera Heights takes the lead. The best part about Ladera Heights is that this economy is generated by African-American Families mostly, whereas thee African-American families across the nation have a median household income of only $43,300.
Variety of Homes and Pricing
Ladera Heights offers homebuyers the perfect combination of historic structures as well as new construction in a posh area. The prices in the area are diverse, ranging from as high as $400s to nearly $2.5 million, according to Neighborhoods.com listings. However, the median sale price of a home in Ladera Heights is a whopping $1.1 million, which isn’t cheap, least to say. When you think about investing in Ladera Heights, this might seem a bit pricey, but the benefits are worth it. Homebuyers can choose housing properties from a variety of different options in Ladera Heights. This includes condominiums, lofts, homes, and large estates. Because of the high-class families living in the neighborhood, Ladera Heights has quite an impressive inventory of architecturally within the modern homes, which is rare to find these days.
Best Neighborhoods in Ladera Heights, CA for Real Estate Investment
- NeighborhoodMedian Sales Price
- Beverly Hills$3,041,900
- El Segundo$1,167,900
- Culver City$980,400
- NeighborhoodMedian Sales Price
- View Park-Windsor Hills$776,700
- West Hollywood$731,900
- NeighborhoodMedian Sales Price
- West Athens$453,100
Why Ladera Heights is Ideal for Real Estate Investment
Ladera Heights is a hidden neighborhood of Los Angeles and is a new city that is yet to grow and develop its name. Even though its name might not be familiar to you, it has a changing history. The area is mostly covered with African American families, which were due to the fleeing of White residents way back in past history. But the area and economy of the place have developed and progressed so much that it has been titled as the ‘Black Beverly Hills’! This title is given because of the high number of upper-class black families living in the area. Ladera Heights combined with its neighboring communities, Baldwin Hills, View Park, and Windsor Hills, make up the largest concentration of prosperous African-Americans on the West Coast. And because Ladera Heights has the most affluent residents, it makes the area a great opportunity for real estate investment and business. Do you have further questions about Ladera Heights housing market?
Contact Mel Wilson & Associates
today or call now at (818) 993-4606
to start the journey of securing you're ideal Northridge, CA property!