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Insider's Guide to Real Estate in Playa Vista
6/4/2022: 3 signs the housing market is slowing down
This Week's Contents
1. This Week in Playa Vista
2. Golden Guardians Announces Los Angeles Esports Facility
3a. Single Family Homes For Sale: none
3b. Phase 1 - Condos/Townhomes For Sale: 9 listings (3 new!)
3c. Phase 2 - Condos/Townhomes For Sale: 2 listings
4. This week's avg 30-yr fixed-rate: 5.09%
5. 3 Signs the Housing Market Is Slowing Down
6. Why Is Housing So Expensive in Los Angeles?
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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Golden Guardians Announces Los Angeles Esports Facility
by Tom Daniels, ESports Insider, 6/1/2022
The Golden Guardians are an esports affiliate of NBA team the Golden State Warriors. It was announced that the facility will house the Warriors’ esports business offices.
According to the announcement, Golden Guardians’ training facility will be available to its League of Legends, Super Smash Bros. Melee and World of Warcraft competitors. These players will have access to a training room, film room, player lounge, team operations office and kitchen.
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The facility’s creative studio will be equipped with a filming set, green screen and editing bays. Specifically, the facility is located in Playa Vista, Los Angeles.
Read more by Tom Daniels at: ESports insider
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A. Single Family Homes For Sale
Last week: 1 listing at $2,599,000
This week: none
There are no new listings this week!
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B. Phase 1 - Condos/Townhomes For Sale
Last week: 7 listings, $1,395,571 avg price
This week: 9 listings, $1,410,444 avg price, 3 new!
Bridgeway Mills, 5400 Playa Vista Drive #23
$1,590,000 | 3BR, 3BA | 2050 SF
MLS #22-149601 - open house Sun (6/5)
Crescent Walk #212, 13200 Pacific Promenade #212
$625,000 | 1BR, 1BA | 642 SF
MLS #22-155711
The Dorian #111, 6241 Crescent Park
$1,475,000 | 2BR, 3BA | 1780 SF
MLS #22-159519 - open Sat (6/4) & Sun (6/5)
The Metro #211, 5625 Crescent Park
$1,125,000 | 2BR, 2BA | 1611 SF
new! MLS #22-160293 - open Sat (6/4) & Sun (6/5)
Paraiso #202, 13173 Pacific Promenade
$1,899,000 | 3BR, 3BA | 2660 SF
new! MLS #22-163545
Promenade #125, 13044 Pacific Promenade
$1,150,000 | 2BR, 2BA | 1304 SF
new! MLS #22-162199 - open Sat (6/4) & Sun (6/5)
Tapestry, 5701 Kiyot Way #4
$1,495,000 (reduced) | 2BR, 3BA | 1640 SF
MLS #22-140999
Tapestry, 5700 Seawalk Drive #11
$2,090,000 (increased) | 3BR, 4BA | 3207 SF
MLS #22-135999 - open house Sun (6/5)
Tempo #434, 6020 Seabluff Drive
$1,245,000 | 2BR, 3BA | 1410 SF
MLS #22-157813 - open house Sun (6/5)
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C. Phase 2 - Condos/Townhomes For Sale
Last week: 4 listings, $2,355,500
This week: 2 listings, $2,512,000
Camden, 12895 Runway Road #2
$2,375,000 | 4BR, 4BA | 2224 SF
MLS #21-100687
Skylar, 12468 Osprey Lane #1
$2,649,000 | 4BR, 4BA | 2638 SF
MLS #PV22088057MR
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This week's avg 30-yr fixed-rate: 5.09%
Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand. Heading into the summer, the potential homebuyer pool has shrunk, supply is on the rise and the housing market is normalizing. This is welcome news following unprecedented market tightness over the last couple years.
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3 Signs the Housing Market Is Slowing Down
by Alcynna Lloyd, Business Insider, 6/4/2022
The housing market's dynamics are shifting.
Since 2020, American home buyers have battled for the nation's limited amount of housing inventory and eager home sellers raised their prices to historical highs.
Spurred on by cheap mortgage debt and the need for more space, intense buyer competition resulted in bidding wars that crushed housing affordability — especially for first-time home buyers.
With inflation at a forty-year high and consumer sentiment at a decade low, American consumers are grappling with rising costs and becoming increasingly wary of homeownership.
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Why Is Housing So Expensive in Los Angeles?
by Dick Platkin, City Watch, 5/26/2022
A major reason for LA’s population decline is the rising cost of housing and the homelessness resulting from over-priced housing.
Many people can no longer make ends meet, so they move to areas with cheaper housing, end up living in overcrowded conditions, or are priced out of housing and become homeless.
To make sense of these trends, we need to understand the underlying reasons for LA’s soaring housing costs.
Read more by Dick Platkin at: City Watch
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in April
Avg List Price of homes sold: $1,495,876
Average Sold Price: $1,565,118
Average Sold $/SF: $871.08
No. Homes Sold: 17
Sold Range: $820,000 - $2,211,000
Single Family Homes - Sold in April
Avg List Price of homes sold: $2,350,000
Average Sold Price: $2,350,000
Average Sold $/SF: $1,076.01
No. Homes Sold: 1 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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