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Insider's Guide to Real Estate in Playa Vista
8/13/2022: Housing inventory picks up speed at a record pace
This Week's Contents
1. This Week in Playa Vista
2. L.A. Ranks Among Top Tech Cities in Latest Report as Tech Talent Population Grows
3a. Phase 2 - Single Family Homes For Sale: 2 listings
3b. Phase 1 - Condos/Townhomes For Sale: 10 listings (3 new!)
3c. Phase 2 - Condos/Townhomes For Sale: 4 listings
4. This week's avg 30-yr fixed-rate: 5.22%
5. Housing Inventory Picks Up Speed at a Record Pace
6. Migration Hits All-Time High in the U.S.'s Shifting Housing Market
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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L.A. Ranks Among Top Tech Cities in Latest Report as Tech Talent Population Grows
by Isabel Sami, The Business Journals, 8/9/2022
Los Angeles’ thriving tech industry continued to attract talent over the past year as demand in the market grows, revealing L.A. has a greater talent pool depth than other major tech hubs such as San Francisco, Boston and Seattle.
In a new report analyzing tech talent data, real estate services firm Cushman & Wakefield used data from across 115 tech cities globally to evaluate talent availability and cost, office real estate, and business environments.
David C. Smith, vice president and global head of occupier insights at Cushman & Wakefield, said demand for tech is unlikely to drop.
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A. Phase 2 - Single Family Homes For Sale
Last week: 2 listings, $2,687,500
This week: 2 listings, $2,649,000
Everly, 5933 Coral Place
$2,673,000 | 3BR, 4BA, | 2449 SF
MLS #22-172961
The Collection, 12652 Seacoast Place
$2,625,000 (reduced) | 3BR, 4BA, | 2624 SF
MLS #22-161853 - open Sat (8/13) & Sun (8/14)
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B. Phase 1 - Condos/Townhomes For Sale
Last week: 9 listings, $1,504,700 avg price
This week: 10 listings, $1,425,400 avg price, 3 new!
Carabela #321, 12975 Agustin Place
$1,299,000 | 3BR, 3BA | 1840 SF
MLS #22-119317 - open house Sun (8/14)
Chatelaine #406, 5721 Crescent Park
$1,895,000 | 3BR, 3BA | 2346 SF
MLS #22-164329
Crescent Walk #409, 13200 Pacific Promenade
$848,000 | 2BR, 2BA | 836 SF
new! MLS #22-186771 - open house Sun (8/14)
The Metro #402, 5625 Crescent Park
$965,000 | 2BR, 2BA | 1310 SF
new! MLS #22-187169
Paraiso #202, 13173 Pacific Promenade
$1,899,000 | 3BR, 3BA | 2660 SF
MLS #22-163545
Primera Terra #161, 12920 Runway Road
$1,295,000 | 3BR, 2BA | 1310 SF
MLS #22-175753 - open house Sun (8/14)
Serenade #437, 13031 Villosa Place
$1,599,000 | 4BR, 3BA | 2730 SF
new! MLS #22-188371 - open Sat (8/14) & Tues (8/16)
Tapestry, 5700 Seawalk Drive #11
$2,090,000 (increased) | 3BR, 4BA | 3207 SF
MLS #22-135999 - open house Sun (8/14)
Tempo #137, 6020 Seabluff Drive
$1,165,000 | 2BR, 3BA | 1640 SF
MLS #22-168465 - open house Sun (8/14)
Tempo #409, 6020 Seabluff Drive
$1,199,000 | 2BR, 3BA | 1410 SF
MLS #22-180595 - open house Sun (8/14)
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C. Phase 2 - Condos/Townhomes For Sale
Last week: 4 listings, $2,241,250 avg price
This week: no change
Camden, 12895 Runway Road #2
$2,375,000 | 4BR, 4BA | 2224 SF
MLS #21-100687
Mason, 5848 Suncatcher Place #5
$1,895,000 | 3BR, 2BA | 1780 SF
MLS #OC22158583MR
Seabluff #112, 6030 Seabluff Drive
$2,300,000 | 3BR, 3BA | 2005 SF
MLS #22-178029
Skylar, 12642 Sandhill Lane #1
$2,395,000 | 4BR, 4BA | 2638 SF
MLS #OC22156006MR
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This week's avg 30-yr fixed-rate: 5.22%
The 30-year fixed-rate went back up to well over five percent this week, a reminder that recent volatility remains persistent. Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during the pandemic to a more balanced market. Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.
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Housing Inventory Picks Up Speed at a Record Pace
by Brenda Richardson, Forbes, 8/9/2022
In signs that housing inventory is seeing meaningful recovery, active listings rose in July at a record annual pace — up 30.7% — for the third month in a row, according to the Realtor.com Monthly Housing Trends Report released on Tuesday.
Although buyers had more for-sale home options in July, competition remained largely in sellers’ favor, with listing prices near all-time highs and homes selling more quickly than before the pandemic.
“The U.S. housing market continues to move toward more evenly balanced supply and demand compared to the 2021 frenzy,” said Danielle Hale, chief economist for Realtor.com. “Our July data shows elevated mortgage rates left many buyers tightening their budgets and sellers responding with price reductions, while home shoppers who kept searching saw more available options.”
Read more by Brenda Richardson at: Forbes
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Migration Hits All-Time High in the U.S.'s Shifting Housing Market
by V.L. Hendrickson, Mansion Global, 8/11/2022
Migration in the U.S. is at an all-time high as buyers look for more affordability among rate hikes and economic uncertainty.
Last month, 33.7% of Redfin.com users were searching in another metro area, according to a report Thursday from the property portal. That’s the most since at least 2017—when Redfin started tracking the information—and up from 32.6% in the second quarter and about 26% before the pandemic.
The analysis looked at 2 million users looking for residences in more than 100 metro areas. Users must have viewed at least 10 homes in the area to be included in the dataset, with properties there making up at least 80% of the user’s searches.
Read more by V.L. Hendrickson at: Mansion Global
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in June
Avg List Price of homes sold: $1,307,192
Average Sold Price: $1,293,193
Average Sold $/SF: $882.46
No. Homes Sold: 9
Sold Range: $560,738 - $2,199,000
Single Family Homes - Sold in June
Avg List Price of homes sold: $3,561,250
Average Sold Price: $3,557,000
Average Sold $/SF: $975.39
No. Homes Sold: 4
Sold Range: $2,858,000 - $5,000,000 source: data compiled from The MLS
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Brought to you by Playa Vista Premiere
The hardest working team in real estate
Dennis Hsii, MBA
CalDRE License #01919746
dennis@playavistapremiere.com
(844) 99-PLAYA
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