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Insider's Guide to Real Estate in Playa Vista
9/3/2022: A typical $1 million U.S. home is smaller and older than before the pandemic
This Week's Contents
1. This Week in Playa Vista
2. These 47 Theaters Around L.A. Will Sell $3 Tickets in Honor of National Cinema Day
3a. Phase 2 - Single Family Homes For Sale: 2 listings (1 new!)
3b. Phase 1 - Condos/Townhomes For Sale: 6 listings (1 new!)
3c. Phase 2 - Condos/Townhomes For Sale: 4 listings
4. This week's avg 30-yr fixed-rate: 5.66%
5. Rents Rise Across US, But Fall in Greater LA, Study Finds
6. A Typical $1 Million U.S. Home is Smaller and Older Than Before the Pandemic
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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THIS WEEK IN PLAYA VISTA
1. Farmers' Market
9/3 (Saturday) - 9am to 2pm along Millennium Drive
2. $3 Movies at Cinemark Playa Vista and XD
9/3 (Saturday) - $3 All Movies for National Cinema Day
3. Runway Kids Club: Wild Child Gym
9/7 (Wednesday) - 10am to 11am at Runway Playa Vista
* Variety of games, music, movement, creative + imaginary play, interactive puppet shows.
Upcoming: Saturday, Oct 1st Community Yard Sale in Concert Park
Sign up to be a Seller for this 2x/year event.
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These 47 Theaters Around L.A. Will Sell $3 Tickets in Honor of National Cinema Day
by Sophie Len, Secret Los Angeles, 8/22/2022
Calling all film buffs! Get ready to get that large popcorn with extra butter. For one day only, these 47 theaters will sell tickets for only $3 in honor of National Cinema Day—for every format. The entire event is being put on by The Cinema Foundation.
“After this summer’s record-breaking return to cinemas, we wanted to do something to celebrate moviegoing,” said Cinema Foundation president Jackie Brenneman. “We’re doing it by offering a ‘thank you’ to the moviegoers that made this summer happen, and by offering an extra enticement for those who haven’t made it back yet.”
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A. Phase 2 - Single Family Homes For Sale
Last week: 2 listings, $2,636,000
This week: 2 listings, $2,561,500, 1 new!
Everly, 5933 Coral Place
$2,673,000 | 3BR, 4BA, | 2449 SF
MLS #22-172961 - open Sat (9/3) & Sun (9/4)
Woodson, 12824 S. Seaglass Circle
$2,450,000 | 3BR, 4BA, | 2184 SF
new! MLS #22-195817
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B. Phase 1 - Condos/Townhomes For Sale
Last week: 10 listings, $1,502,600 avg price
This week: 6 listings, $1,422,333 avg price, 1 new!
The Metro #136, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
MLS #22-189789
The Metro #340, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
MLS #22-193956 - open Sat (9/3) & Sun (9/4)
Paraiso #205, 13173 Pacific Promenade
$1,650,000 | 3BR, 3BA | 2215 SF
new! MLS #22-194791 - open house Sun (9/4)
Primera Terra #161, 12920 Runway Road
$1,295,000 | 3BR, 2BA | 1310 SF
MLS #22-175753 - open house Sun (9/4)
Primera Terra #222, 12920 Runway Road
$999,000 | 2BR, 2BA | 1230 SF
MLS #22-192321 - open house Sat (8/28)
Tapestry, 5700 Seawalk Drive #11
$2,090,000 (increased) | 3BR, 4BA | 3207 SF
MLS #22-135999
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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: 5.66%
The market’s renewed perception of a more aggressive monetary policy stance has driven mortgage rates up to almost double what they were a year ago. The increase in mortgage rates is coming at a particularly vulnerable time for the housing market as sellers are recalibrating their pricing due to lower purchase demand, likely resulting in continued price growth deceleration.
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Rents Rise Across US, But Fall in Greater LA, Study Finds
by Dana Bartholomew, The Real Deal, 8/30/2022
Across the nation, big-city rents are rising – but not in Southern California, where monthly payments have edged downward in Los Angeles and the Inland Empire.
Median rent across the nation’s 50 largest metropolitan areas grew by $3 to $1,879 in July, the Los Angeles Times reported, citing data from Realtor.com. In metropolitan Los Angeles-Long Beach-Anaheim, rent fell by $4 to $3,047.
Read more by Dana Bartholomew at: The Real Deal
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A Typical $1 Million U.S. Home Is Smaller and Older Than Before the Pandemic
by V.L. Hendrickson, Mansion Global, 8/30/2022
U.S. home buyers are paying more and getting less.
The typical $1 million sold in the second quarter was smaller, older and had fewer bathrooms than an average residence that traded for the same amount before the pandemic, according to a report Tuesday from Zillow.
That’s because the real estate market was so hot during the pandemic, with sales growth over 20% and inventory plummeting to record lows. In addition, the share of single-family homes that sold for $1 million or more increased to 6.4% in the second quarter of 2022, compared to the same time period in 2019.
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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