Market Trends: The 90036 Real Estate Rollercoaster

Now, let’s talk numbers, because in the world of real estate, data is king. And oh boy, does 90036 have some juicy stats to chew on.

As of November 2024, the median home price in 90036 is sitting pretty at $1,938,750. That’s a 12.7% increase from last year, folks. If you’re thinking, Whoa, that’s steep, hold onto your hats because it gets even more interesting. The price per square foot is $757, which is actually down 15.7% since last year. What does this mean for you? It means opportunity is knocking, and it’s wearing a designer suit.

Let’s break it down by bedroom count, because size does matter when you’re talking LA real estate:

• 1 Bedroom: Up 31.3% to $643,500
• 2 Bedrooms: Down 10.7% to $897,700
• 3 Bedrooms: Up 8.9% to $1.9 million
• 4 Bedrooms: Up 2.2% to $2.3 million
• 5+ Bedrooms: Up 0.5% to $2.5 million

See that dip in 2-bedroom prices? That’s your cue to make a move if you’re a first-time buyer or looking to downsize without downgrading your lifestyle.

The 90036 Sweet Spot

Here’s the kicker: 90036 is currently in what real estate gurus call a neutral market. It’s like the Goldilocks zone of real estate – not too hot, not too cold, just right. Homes are on the market for an average of 33 days, which is 13.3% faster than last year. This means you’ve got time to think, but not too much time to overthink.

According to Redfin, homes in 90036 typically sell for about 2-5% below list price and go pending in around 45-55 days. This gives you a bit of negotiating power, but don’t dawdle – good properties in this area don’t stay on the market for long.

Your 90036 Home Shopping List

So, what’s on the menu in 90036? Let’s window shop, shall we?

• Cozy Condos: Starting at $725,000, you can snag a 2-bed, 2-bath apartment that’s perfect for urban professionals or empty nesters. For example, there’s a charming unit at 109 N Sycamore Ave APT 101 listed for $725,000.

• Family-Friendly Homes: For $1,995,000, a 3-bed, 2-bath home could be yours, complete with that California indoor-outdoor living vibe. Check out the property at 602 N Martel Ave for a taste of what’s available.

• Luxury Living: If you’re feeling fancy, $2,399,000 could land you a 4-bed, 4-bath stunner that’ll make your friends green with envy. The home at 628 N Highland Ave is a prime example of upscale 90036 living.

And for those with champagne tastes and caviar dreams, there’s always the $6,749,000 7-bed, 9-bath mansion at 434 N Mansfield Ave that’s basically a private resort.

The Investment Angle: 90036 by the Numbers

If you’re considering 90036 as an investment opportunity, here are some numbers to chew on:

• Rental Market: According to RentCafe, the average rent in 90036 is $2,533 for an 822 sq ft apartment. This is higher than the Los Angeles average, indicating strong rental demand.

• Appreciation: Over the past 5 years, home values in 90036 have appreciated by approximately 15%, outpacing many other areas of Los Angeles.

• Occupancy Rates: The area boasts a high occupancy rate of around 95%, suggesting a stable rental market for investors.