Back in January, listings site Redfin predicted that Eagle Rock would be one of the hottest real estate markets in the country in 2014, and they've found that the 'hood is indeed superhot this year. That's no surprise—ER is cool, good for families, and relatively reasonably-priced—but, far more shockingly, they've also announced that the next hot 'hood in Los Angeles is Cheviot Hills. That's the suburbanish Cheviot Hills that sits in the middle of the Westside and is most famously home to beloved science fiction author Ray Bradbury and LA's richest man, Patrick Soon-Shiong. Okkkkkk. The median list price in the area is already $1.749 million, but prices haven't shot up quite as crazily as they have in surrounding areas, and since only rich people can buy now anyway, they're apparently choosing boring rich-people neighborhoods. As one agent puts it, "Now that homes in [Mar Vista and Culver City] are just as pricey as the tony Cheviot Hills, folks would just as soon live there." Meanwhile, in Eagle Rock, the median sale price went up 25 percent between January and June and 63 percent of houses sold above listing price during that time (that's up 8.7 percent). Housing in the 'hood stayed on the market an average of just 12 days, down from 14 days. It's average list price is now $685,000.
· Hot or Not? Redfin Revisits Predictions for Hottest Neighborhoods of 2014 [Redfin]
· Prediction: Eagle Rock Will Be Second Hottest US 'Hood Of 2014 [Curbed LA]
Filed under:
Loading comments...