The Crown Jewel of Southern California Real Estate
Let’s cut to the chase: 91008 isn’t just a zip code; it’s a lifestyle. We’re talking about a place where your neighbors are more likely to be tech moguls and Hollywood A-listers than the Joneses you’re trying to keep up with.
As of November 2024, the median sale price in this slice of paradise is a cool $1.8 million. But don’t let that number scare you off—it’s actually up 45.1% from last year. That’s not just growth; that’s a rocket ship to the moon, and you want to be on board.
Here’s the tea: homes for sale in 91001 might be impressive, but homes in 91008 are like fine wine. They get better—and more valuable—with age. The average price per square foot is sitting pretty at $692, but let’s be honest, you’re not here for average. You’re here for exceptional, and that’s exactly what you’ll find.
The 91008 Flex: More Than Just Numbers
Sure, we could bore you with endless statistics, but that’s not why you’re here. You want to know what it feels like to live in 91008. Picture this: You’re hosting a BBQ in your backyard that’s bigger than some city parks. Your guests are lounging by the pool, cocktails in hand, while the kids (and let’s face it, some adults) are having a blast in the home theater room.
This isn’t just a home; it’s a lifestyle upgrade. And with an average of 152 days on the market, these homes aren’t just sitting around waiting for you. They’re like that limited edition sneaker drop—blink, and you might miss out.
Market Insights: The Numbers Behind the Luxury
Let’s dive deeper into the market dynamics of 91008:
Median List Price: As of November 2024, the median list price in Bradbury was $2,624,444, representing a staggering 62.9% increase from the previous year. This isn’t just growth; it’s a market on steroids.
Inventory: There were 15 homes for sale in Bradbury in November 2024, a 7.1% increase from October 2024. This tight inventory creates a sense of exclusivity and urgency for potential buyers.
Price Per Square Foot: The median price per square foot in 91008 ranges from $692 to $733, depending on the source. Either way, you’re looking at premium real estate that commands top dollar.
Days on Market: Homes for sale in 91803 might move quickly, but homes in Bradbury had an average listing age of 152 days in November 2024, a significant increase of 230.6% compared to the previous year. This extended market time isn’t a sign of stagnation—it’s a reflection of the careful consideration that goes into each high-end sale.
Market Competitiveness: According to Redfin, the Bradbury housing market is not very competitive, with homes often selling for about 4% below list price over the last 12 months. This gives savvy buyers some room for negotiation.
These statistics paint a picture of a luxury market that’s both dynamic and discerning. It’s not about quick flips or mass-market appeal—it’s about finding the perfect match between extraordinary properties and discerning buyers.
Market Trends: Riding the Wave of Luxury
Current Market Conditions: The Only Way is Up
Let’s talk numbers, because in 91008, the figures are as impressive as the views. As of November 2024, the median list price in Bradbury is a whopping $2,624,444. That’s not just growth; that’s a 62.9% increase from last year. If that doesn’t scream investment opportunity, I don’t know what does.
But here’s where it gets interesting. While prices are soaring, inventory is tight. There were only 15 homes for sale in November 2024. That’s a 7.1% increase from October, but in a market this hot, it’s like finding water in the desert.
The kicker? Homes with 5+ bedrooms saw a 100% increase in inventory. So if you’re in the market for a mansion (and let’s be honest, who isn’t?), now might be your golden ticket.
Market Analysis: Beyond the Surface Numbers
Let’s dig deeper into what these market trends mean for potential buyers and investors:
Price Appreciation: The 62.9% year-over-year increase in median list price is significant. For context, the national average home price appreciation is typically around 3-5% annually. This rapid growth suggests strong demand and limited supply in the 91008 market.
Inventory Dynamics: The 7.1% increase in inventory from October to November 2024 might seem small, but in a market with only 15 homes for sale, even slight changes can have a big impact. This could indicate that more homeowners are feeling confident about listing their properties at these elevated prices.
Luxury Segment Growth: The 100% increase in inventory for 5+ bedroom homes is particularly noteworthy. This could be due to several factors:
- Homeowners capitalizing on the market’s strength to sell large properties
- New construction of luxury homes coming to market
A shift in buyer preferences towards larger homes, possibly influenced by work-from-home trends
Market Resilience: Despite economic uncertainties in other sectors, the luxury real estate market in 91008 appears robust. This resilience can be attractive to investors looking for stable, high-end assets.
Potential for Value-Add: With the average listing age at 152 days, there may be opportunities for savvy buyers to negotiate on properties that have been on the market longer, potentially adding value through renovations or updates.
Days on Market: The Tortoise and the Hare Have Nothing on 91008
In real estate, they say time is money. In 91008, we say time is luxury. Homes here had an average listing age of 152 days in November 2024. That’s a 230.6% increase from last year. But don’t let that fool you into thinking these homes are collecting dust.
In 91008, sellers aren’t just looking for any buyer; they’re looking for the right buyer. This isn’t a race to the bottom; it’s a carefully choreographed dance of luxury and exclusivity. And let’s be real, when you’re dealing with properties that have more zeros in their price tag than your phone number, you can afford to be picky.
But here’s the insider tip: while homes are staying on the market longer, they’re still selling for around list price. According to Redfin, homes in Bradbury typically sell for about 4% below list price. In a market where millions are at stake, that 4% is practically a rounding error.
The Psychology of Luxury Real Estate
The extended days on market in 91008 reveal a fascinating aspect of high-end real estate psychology:
Patience is a Virtue: Unlike mass-market homes, luxury properties often require a longer selling cycle. Buyers at this level are typically not in a rush and want to ensure they’re making the right decision.
Exclusivity Factor: The longer a unique, high-end property stays on the market, the more it can sometimes add to its allure. It becomes a conversation piece, a known entity in luxury circles.
Price Inelasticity: Luxury homeowners in 91008 often have the financial flexibility to wait for the right offer rather than lowering their price. This contributes to the stability of property values in the area.
Seasonal Considerations: With many luxury buyers being second or third homeowners, the market can be influenced by seasonal factors. A home listed in the off-season might stay on the market longer but could attract more serious buyers.
Custom Fits: Many homes in 91008 are highly customized to their current owners’ tastes. Finding the right buyer who appreciates these unique features can take time.
Understanding these psychological factors can give you an edge when navigating the 91008 luxury real estate market, whether you’re buying or selling.