Market Madness: Navigating Crestwood Hills Real Estate
Alright, let’s get down to brass tacks. You’re not just here for the pretty pictures and witty banter (though I do appreciate your excellent taste). You want the cold, hard facts about the Crestwood Hills real estate market. Buckle up, buttercup—it’s a wild ride.
The Numbers Game
First things first: if you’re looking for a bargain, you might want to check a different zip code. Crestwood Hills homes for sale are not for the faint of heart (or light of wallet). According to recent data from Neighborhoods.com, we’re talking a median sale price of $3,028,000. Yes, you read that right. That’s more zeros than my high school math tests.
But here’s the kicker: despite these eye-watering prices, homes here are selling faster than avocado toast at a millennial brunch spot. The average cost per square foot is sitting pretty at $1,002, which in LA real estate terms is like saying, Welcome to the big leagues, kid.
Let’s break it down further:
- Current price range: $2,995,000 to $7,995,000
- Historical closed prices: $1,395,000 to $23,500,000 (talk about range!)
- Average cost per square foot: $1,002
Size Matters (Sometimes)
Now, don’t let those numbers scare you off just yet. Crestwood Hills offers a range of homes, from modest (by LA standards) 2,000 square foot abodes to sprawling 8,000+ square foot mansions that could double as small countries. It’s like a real-life Goldilocks situation—there’s a home that’s just right for you, whether you’re a minimalist or someone who needs a separate wing for their shoe collection.
The Mid-Century Modern Magic
Here’s where Crestwood Hills really shines: these aren’t just houses; they’re pieces of architectural history. We’re talking homes designed by legends like A. Quincy Jones and Whitney R. Smith. These are the kind of places where every angle is Instagram-worthy, and your furniture will finally have the backdrop it deserves.
But here’s the tea: only about 45 of the original 100 homes still retain their full mid-century glory. The rest have been updated over the years, which is sometimes code for we ripped out all the cool stuff. But fear not, intrepid home buyer! There’s been a resurgence of interest in preserving these architectural gems, thanks in part to local heroes like architect Cory Buckner.
The Crestwood Hills Renaissance: A Case Study in Cool
Speaking of preservation, let’s dive into a little success story that’ll warm the cockles of your design-loving heart. Back in 1994, architect Cory Buckner rolled into Crestwood Hills and was probably like, What in the minimalist masterpiece is going on here? She found that only 45 of the remaining 100 homes were still rocking their original swagger.
Did Buckner throw up her hands and move to the suburbs? Hell no. She went full architectural Avenger, convincing 17 residents to have their homes designated as Los Angeles ‘historic-cultural monuments.’ But she didn’t stop there. Buckner went on to remodel a dozen homes herself, bringing them back to their mid-century modern glory.
It’s not just Buckner, though. Take Andreas E.G. Larsson, founder of HabHouse, who took on the restoration of the Hart House. This bad boy was one of the first homes built in Crestwood Hills back in 1950, designed by none other than A. Quincy Jones and Whitney R. Smith. Larsson didn’t just slap on a fresh coat of paint and call it a day. He preserved the original design and materials, including those swoon-worthy clear heart redwood walls.
The result? A neighborhood that’s not just holding onto its history but celebrating it. It’s like a living, breathing museum of mid-century modern design, except you get to live in the exhibits. How’s that for a conversation starter at your housewarming party?
The Impact of Preservation on Property Values
Now, you might be thinking, That’s all well and good, but what does this mean for my investment? Well, buckle up, because we’re about to drop some knowledge bombs.
The preservation efforts in Crestwood Hills haven’t just saved some pretty buildings; they’ve had a significant impact on property values. According to real estate experts, homes that retain their original mid-century features often command a premium in the market. We’re talking anywhere from 10% to 30% higher than similar-sized homes without the architectural pedigree.
Take the Arens House, for example. This A. Quincy Jones-designed beauty was designated as a City of Los Angeles Historic-Cultural Monument (No. 720, for those keeping score). When it hit the market in 2019, it sold for a cool $3.2 million. That’s about 20% above the median price for the area at the time.
But it’s not just about the dollar signs. The preservation efforts have created a unique selling point for the entire neighborhood. In a city where cookie-cutter McMansions are a dime a dozen, Crestwood Hills stands out as a bastion of architectural integrity and historical significance. It’s like owning a piece of LA’s cultural heritage, but with better plumbing.
The Future of Crestwood Hills: What’s on the Horizon?
So, what’s next for this mid-century modern mecca? While we don’t have a crystal ball (those aren’t very mid-century, after all), we can make some educated guesses based on current trends and expert opinions.
- Continued Preservation Efforts: With the success of past preservation projects, it’s likely we’ll see more homeowners jumping on the restoration bandwagon. The Los Angeles Conservancy has been eyeing Crestwood Hills as a potential historic district, which could bring even more resources and attention to preservation efforts.
- Sustainable Upgrades: Mid-century modern homes weren’t exactly known for their energy efficiency. Expect to see more homeowners investing in sustainable upgrades that maintain the aesthetic while reducing the carbon footprint. Think solar panels disguised as original roof features and energy-efficient windows that still have that classic look.
- Increased Demand: As more people discover the joys of mid-century modern living (thanks, Mad Men), demand for homes in Crestwood Hills is likely to increase. This could drive prices even higher and make the neighborhood even more exclusive.
- Community Initiatives: The strong sense of community in Crestwood Hills isn’t going anywhere. Look for more neighborhood events, architectural tours, and maybe even a mid-century modern home expo or two.
- Architectural Tourism: Don’t be surprised if Crestwood Hills becomes a must-visit destination for architecture buffs from around the world. This could lead to increased visibility for the neighborhood and potentially some cool local businesses catering to the mid-century modern aesthetic.