The Market: A Numbers Game With Heart

Now, I know what you’re thinking. This all sounds great, but what about the nitty-gritty? Give me the data! Well, buckle up, because we’re about to get nerdy with numbers.

Days on Market: Blink and You’ll Miss It

In 90064, homes don’t just sell; they fly off the market faster than you can say escrow. As of September 2024, the average time to sell a home here was a mere 31 days. That’s right, in just over a month, you could be handing over the keys to your old place and sliding into your new 90064 digs.

But here’s where it gets interesting. While 65% of homes were snatched up within 30 days, there’s a sweet spot for the savvy buyer. About 22% of homes lingered on the market for 30 to 90 days. That’s your golden opportunity to negotiate like a pro and maybe, just maybe, score the deal of the century.

Pricing Trends: The Only Way Is Up (Usually)

Let’s talk turkey – or in this case, dollar signs. The median sold price in 90064 as of September 2024 was a cool $1,675,000. Now, before you choke on your avocado toast, hear me out. Yes, that’s a 13% decrease from the previous year, but in the world of LA real estate, that’s what we call a buying opportunity.

Here’s the breakdown that’ll make your realtor’s head spin:
– 1 Bedroom homes: Down 5.4% to $577,000 (perfect for the single mogul on the rise)
– 2 Bedrooms: Up 4.7% to $1.0 million (because who needs personal space anyway?)
– 3 Bedrooms: Down 14.2% to $1.6 million (family-sized dreams at a discount)
– 4 Bedrooms: Down 1.8% to $2.3 million (room for you, your kids, and your ego)
– 5+ Bedrooms: Down 16.9% to $3.0 million (because why stop at just one guest room?)

But here’s the kicker – 48% of homes sold over asking price. That’s right, in 90064, even a price tag is just a suggestion.

The Knight Group LA: Your Secret Weapon in the 90064 Game

Now, I could tell you to go it alone, to brave the wild west of 90064 real estate with nothing but a dream and a pre-approval letter. But let’s be real – in this market, you need a secret weapon. That’s where we come in.

At The Knight Group LA, we don’t just sell houses; we craft lifestyles. We’re the Willy Wonka of real estate, with the golden ticket to your 90064 dreams. Our data-driven approach means we don’t just know the market; we predict it. We’re not just agents; we’re time travelers, seeing the future value in every property.

Take our recent client, a tech whiz from Silicon Valley looking to make his mark in LA. He wanted a property with flip potential and an ROI that would make his investors weep with joy. Challenge accepted. We dug deep, analyzing slope gradients and city ordinances like modern-day alchemists. The result? A property with a 70% ROI potential that had our client grinning from ear to ear.

Market Analysis: 90064 vs. Neighboring Zip Codes

To truly understand the value proposition of 90064, let’s compare it with neighboring areas:

| Zip Code | Median Home Price | Price per Sq Ft | Year-over-Year Change |
|———-|——————-|—————–|————————|
| 90064 | $1,675,000 | $927 | -13% |
| 90025 | $1,550,000 | $895 | -8% |
| 90049 | $2,100,000 | $1,050 | -5% |
| 90034 | $1,450,000 | $875 | -10% |

As you can see, 90064 offers a unique balance of value and prestige. While it’s experienced a larger year-over-year decrease than some neighbors, this presents a prime opportunity for savvy buyers to enter the market at a more favorable price point. For those looking to expand their property portfolio, exploring homes for sale in 90034 could provide interesting comparison points and potential investment opportunities.

Historical Trends: The 90064 Story

Looking at historical data, we see a fascinating trend:

• 2019: Median home price $1,450,000
• 2020: Median home price $1,525,000 (+5.2%)
• 2021: Median home price $1,750,000 (+14.8%)
• 2022: Median home price $1,925,000 (+10%)
• 2023: Median home price $1,675,000 (-13%)

This rollercoaster ride tells us that 90064 is resilient. Even with the recent dip, prices are still up 15.5% from 2019. It’s not just a purchase; it’s an investment in your future.

The Future of 90064: What’s on the Horizon

Tech Boom

With Google moving into the renovated Westside Pavilion, 90064 is poised to become a tech hub. This could mean:

• Increased demand for high-end housing
• Potential for property value growth
• New trendy restaurants and businesses catering to the tech crowd

Sustainability Initiatives

Los Angeles is pushing for greener living, and 90064 is at the forefront:

• Solar panel incentives for homeowners
• Electric vehicle charging stations popping up
• Green building standards for new constructions