Here's How Much Houses Are Selling For In L.A. These Days
Yeah, yeah, we know. It’s hella expensive to live in L.A. But ever wondered which neighborhoods are the most expensive? Sure, you can guess (and may even be right!), but the folks over at Redfin have released some hard data in their monthly review of Los Angeles’ Real Estate Market.
Citywide, the median home sale price is precisely $575,000.
Perhaps the biggest symbol of how L.A. is changing (and has changed) is news that median sale prices in Silver Lake have, for the first time, exceeded $1 million. This makes Silver Lake one of L.A.’s most absolutely expensive neighborhoods, on par with hoods like Westwood and Hollywood Hills.
As for other highlights, West Los Angeles as a whole—including Beverly Hills and Santa Monica—is more expensive than San Francisco. The median sale prices for homes and condos is $1.2 million west of La Cienega, compared to SFO’s roughly $1 million median, according to Redfin.
North East Los Angeles is well on its way to becoming Silver Lake as well. Homes in Mount Washington are selling for $795,000 (more than Marina Del Rey), and Highland Park homes are inching up through $585,000.
As for the most expensive hoods in the region, Hancock Park ($2.79 million), Pacific Palisades ($2.6 million), and Beverly Hills ($1.942 million), and Venice ($1.825 million) top the list.
If you’re looking for something more affordable, your best bet is looking towards the bastion of affordable housing that is the San Fernando Valley. Median home prices are below $500,000 in North Hollywood, Van Nuys and Lake Balboa and aren’t much more in Northridge and Tarzana ($580,000, each).
As for humble Echo Park, a home there will set you back $870,000. Take a listen to the song below, by EELS songwriter Mark Everett. Everett wrote the tune in 1996 about a walk through Echo Park. A lot can change in twenty years: