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Insider's Guide to Real Estate in Playa Vista
8/27/2022: Is the housing market collapse over? Pending home sales suggest an end may be over
This Week's Contents
1. This Week in Playa Vista
2. Google's Covid Outbreak is Currently the Largest of Any Employer in Los Angeles
3a. Phase 2 - Single Family Homes For Sale: 2 listings
3b. Phase 1 - Condos/Townhomes For Sale: 10 listings (2 new!)
3c. Phase 2 - Condos/Townhomes For Sale: 4 listings
4. This week's avg 30-yr fixed-rate: 5.55%
5. Is the Housing Market Collapse Over? Pending Home Sales Suggest an End May Be Over
6. Southern California Home Prices Slipped in July. More Drops May Be Coming
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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Google's Covid Outbreak is Currently the Largest of Any Employer in Los Angeles
by Tom Tapp, Deadline, 8/22/2022
The number of Covid infections among Los Angeles-area Google employees nearly doubled over the weekend, according to the count on the county’s official Covid workplace outbreak site.
On Friday, Deadline reported that the tech giant’s stylish Silicon Beach campus in Venice had recorded 145 infections. This morning, the L.A. County Public Health dashboard showed another 135 newly-tallied cases at the company’s massive Playa Vista complex. (There were another another 15 infections listed Friday for the Venice campus that no longer appear today.)
Combined, those 280 infections constitute the largest current tally for any employer in the county.
Read more by Tom Tapp at: Deadline
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A. Phase 2 - Single Family Homes For Sale
Last week: 2 listings, $2,649,000
This week: 2 listings, $2,636,000
Everly, 5933 Coral Place
$2,673,000 | 3BR, 4BA, | 2449 SF
MLS #22-172961
The Collection, 12652 Seacoast Place
$2,599,000 (reduced x2) | 3BR, 4BA, | 2624 SF
MLS #22-161853 - open Sat (8/27) & Sun (8/28)
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B. Phase 1 - Condos/Townhomes For Sale
Last week: 9 listings, $1,549,111 avg price
This week: 10 listings, $1,502,600 avg price, 2 new!
Carabela #321, 12975 Agustin Place
$1,299,000 | 3BR, 3BA | 1840 SF
MLS #22-119317
Chatelaine #406, 5721 Crescent Park
$1,895,000 | 3BR, 3BA | 2346 SF
MLS #22-164329
Concerto Lofts #426, 13045 Pacific Promenade
$1,450,000 | 2BR, 2BA | 1720 SF
MLS #22-183077
The Metro #136, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
MLS #22-189789 - open house Sun (8/28)
The Metro #340, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
new! MLS #22-193956
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 Sat (8/28)
Primera Terra #222, 12920 Runway Road
$999,000 | 2BR, 2BA | 1230 SF
new! MLS #22-192321 - open house Sat (8/28)
Serenade #437, 13031 Villosa Place
$1,599,000 | 4BR, 3BA | 2730 SF
MLS #22-188371 - open Sat (8/27) & Sun (8/28)
Tapestry, 5700 Seawalk Drive #11
$2,090,000 (increased) | 3BR, 4BA | 3207 SF
MLS #22-135999 - open house Sun (8/28)
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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: 5.55%
The combination of higher mortgage rates and the slowdown in economic growth is weighing on the housing market. Home sales continue to decline, prices are moderating, and consumer confidence is low. But, amid waning demand, there are still potential homebuyers on the sidelines waiting to jump back into the market.
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Is the Housing Market Collapse Over? Pending Home Sales Suggest an End May Be Over
by Jonathan Ponciano, Forbes, 8/24/2022
Pending home sales—a leading indicator for housing market activity—fell less than expected last month in a potential sign that sales may soon stop collapsing as mortgage rates settle below recent highs, according to new data released Wednesday, but even if sales stop plunging, experts still aren’t sure how soon the market will recover.
Pending home sales are good early indicators of sales over the next one or two months, which is roughly how long it typically takes to finalize sales once contracts are signed.
Read more by Jonathan Ponciano at: Forbes
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Southern California Home Prices Slipped in July. More Drops May Be Coming
by Andrew Khouri, Los Angeles Times, 8/17/2022
In recent months, rising mortgage interest rates have put the brakes on a once-hot housing market in Southern California and across the country.
With would-be buyers choosing to sit on the sidelines, sales are plunging and homeowners are slashing their asking prices to close a deal.
Now, there are signs overall home values may be headed down as well.
Read more by Andrew Khouri at: Los Angeles Times
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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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