FAQs: Your Burning Questions About 90048 Real Estate
What’s the average home price in 90048?
As of August 2024, the median sale price in 90048 was $2,150,000. But remember, averages are just that – averages. You can find gems above and below this price point. For instance, a cozy 2-bedroom condo might be available for around $1 million, while a luxurious 5-bedroom estate could fetch upwards of $5 million.
How long do homes typically stay on the market in 90048?
Currently, homes in 90048 are selling after an average of 43 days on the market. But in this dynamic market, that number can change faster than you can say escrow. It’s worth noting that this is down 38.6% from last year, indicating a more active market.
What are the best schools in the 90048 area?
While 90048 itself doesn’t have schools within its boundaries, it’s surrounded by some of LA’s top educational institutions. From the prestigious Harvard-Westlake School to the innovative Center for Early Education, your kids (or future kids) will have access to world-class education just a stone’s throw away.
Some notable schools near 90048 include:
- Hancock Park Elementary School (K-5)
- John Burroughs Middle School (6-8)
- Fairfax High School (9-12)
- Marlborough School (Private, All-Girls, 7-12)
- Brentwood School (Private, K-12)
What’s the rental market like in 90048?
The rental market in 90048 is robust, reflecting the area’s desirability. As of 2024, the average rent for a one-bedroom apartment is around $2,500 per month, while a three-bedroom home could rent for $5,000 or more. This makes 90048 an attractive option for real estate investors looking for rental income potential.
Are there any upcoming developments in 90048?
While specific development plans can change, 90048 and the surrounding areas are always evolving. The nearby La Brea Tar Pits are undergoing a major reimagining, which could increase property values in the area. Additionally, there are ongoing discussions about improving public transportation options, which could make the neighborhood even more desirable.
What’s the demographic makeup of 90048?
90048 is known for its diverse population. It’s a mix of young professionals, established families, and long-time residents. The area attracts a creative crowd due to its proximity to entertainment industry hubs, as well as affluent individuals drawn to its luxury offerings.
How safe is 90048?
Safety is always a top concern for homebuyers. 90048 is generally considered a safe area, with crime rates lower than many other parts of Los Angeles. However, as with any urban area, it’s always wise to stay aware of your surroundings and take standard safety precautions.
What’s the parking situation like in 90048?
Parking can be a challenge in some parts of 90048, particularly in more densely populated areas. Many homes come with dedicated parking, but street parking can be limited. When house hunting, be sure to consider the parking situation as part of your decision-making process.
Are there any restrictions on short-term rentals in 90048?
Los Angeles has regulations on short-term rentals (like Airbnb), which apply to 90048. As of 2024, hosts can only rent out their primary residence, and there’s a cap on the number of days per year a property can be rented short-term. Be sure to check the most current regulations if you’re considering using your property for short-term rentals.
What’s the best time of year to buy in 90048?
While real estate trends can vary, traditionally, the market slows down a bit in the winter months, potentially giving buyers more negotiating power. However, in a desirable area like 90048, great properties can come on the market at any time. The best strategy is to be prepared to act when the right property becomes available, regardless of the season.
The 90048 zip code isn’t just a location; it’s a lifestyle, an investment, and a statement. It’s where dreams of luxury living come to life, where culture and couture collide, and where your next chapter begins.
