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Insider's Guide to Real Estate in Playa Vista
1/21/2023: Despite the housing market frenzy, 80% of buyers in the past two years don't regret their purchases
This Week's Contents
1. This Week in Playa Vista
2. Meet Three California Startups Taking on America's Child-care Crisis
3a. Phase 1 - Single Family Homes For Sale: 1 listing (new!)
3b. Phase 2 - Single Family Homes For Sale: 2 listings (1 new!)
3c. Phase 1 - Condos/Townhomes For Sale: 4 listings
3d. Phase 2 - Condos/Townhomes For Sale: 6 listings (1 new!)
4. This week's avg 30-yr fixed-rate: 6.15%
5. Despite the Housing Market Frenzy, 80% of Buyers in the Past Two Years Don't Regret Their Purchases
6. What Your Salary Needs to Be to Afford a $1 Million Home
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
1-Minute Market Insight: 1//Under Contract | Two homes quickly went under contract last week, after only a few days on the market. A Mason penthouse unit and a Woodson SFH each received multiple offers that resulted in bidding wars. Congratulations to the lucky buyers! 2//Jewel | A 5-bedroom Jewel SFH has just hit the market, becoming the highest priced home to ever be listed in Playa Vista. The current highest sales price is $5,000,000 which occurred in June 2022. 3//Skylar | A new Skylar penthouse unit was listed this week, priced competitively at $2,199,950. It faces north, has high ceilings and boasts a lot of natural light.
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Creative Communal Artisan Market
Saturday, January 21, 10:00am - 3:00pm
There is no better way to start off the year than with a Creative Communal Artisan Market! Come out and enjoy the day with your crew & support incredible small business and vendors. More info here.
- 40 Local Makers
- Photo Op
- Live Music
- Brunch & BBQ
- Pet Friendll
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Meet Three California Startups Taking on America's Child-care Crisis
by Samantha Masunaga, Los Angeles Times, 1/19/2023
Before the pandemic, many venture capitalists weren’t convinced that child care was a worthwhile investment.
Is this really a problem? they’d ask founders in the industry. Aren’t people figuring it out?
“It was frustrating as parents who were experiencing the problem firsthand to hear that feedback,” said Melanie Wolff, co-founder of Playa Vista child-care startup Brella, of early conversations with investors.
Read more by Samantha Masunaga at: Los Angeles Times
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A. Phase 1 - Single Family Homes For Sale
Last week: none
This week: 1 listing at $2,795,000 (new!)
Park Houses, 13015 Discovery Creek
$2,795,000 | 3BR, 4BA | 3820 SF
new! MLS #23-232671 - open house Tues (1/24)
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B. Phase 2 - Single Family Homes For Sale
Last week: 2 listings, $2,497,495 avg price
This week: 2 listings, $4,148,995 avg price (1 new!)
Asher, 5825 W Seaglass Circle
$2,899,990 | 4BR, 4BA | 2757 SF
MLS #TR22239015MR
Jewel, 5920 Village Drive
$3,398,000 | 5BR, 7BA | 4494 SF
new! MLS #23-233251 - open Sat (1/21) & Sun (1/22)
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C. Phase 1 - Condos/Townhomes For Sale
Last week: 5 listings, $1,374,400 avg price
This week: 4 listings, $1,456,750 avg price
Chatelaine #406, 5721 Crescent Park
$1,699,000 | 3BR, 3BA | 2346 SF
MLS #22-223393
Concerto Lofts #424, 13045 Pacific Promenade
$1,600,000| 2BR, 2BA | 1610 SF
MLS #NDP2300224MR
Coronado #407, 7100 Playa Vista Drive
$1,699,000 (reduced) | 4BR, 3BA | 2108 SF
MLS #22-203807
Tempo #123, 6020 Seabluff Drive
$829,000 (reduced) | 2BR, 2BA | 910 SF
MLS #23-229994 - open house Sun (1/22)
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D. Phase 2 - Condos/Townhomes For Sale
Last week: 6 listings, $2,385,000 avg price
This week: 6 listings, $2,334,992 avg price (1 new!)
Camden, 12895 Runway Road #2
$2,200,000 (reduced) | 4BR, 4BA | 2224 SF
MLS #21-100687
Cleo, 12785 Bluff Creek #3
$3,290,000 | 3BR, 3BA | 2050 SF
MLS #22-227399
Mason, 5848 Suncatcher Place #5
$1,845,000 (reduced) | 3BR, 2BA | 1780 SF
MLS #OC22158583MR
Skylar, 12642 Sandhill Lane #1
$2,295,000 (reduced x2) | 4BR, 4BA | 2638 SF
MLS #OC22156006MR
Skylar, 12671 Sandhill Lane #3
$2,199,950 | 2BR, 3BA | 1909 SF
new! MLS #SR23008159CN
Skylar, 12695 Sandhill Lane #2
$2,180,000 (reduced) | 3BR, 3BA | 2026 SF
MLS #22-218334 - open house Sun (1/22)
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This week's avg 30-yr fixed-rate: 6.15%
As inflation continues to moderate, mortgage rates declined again this week. Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern.
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Despite the Housing Market Frenzy, 80% of Buyers in the Past Two Years Don't Regret Their Purchases
by Brenda Richardson, Forbes, 1/19/2023
Over 80% of home buyers don’t regret purchasing their homes in the last two years, despite a tough market and making significant compromises, according to a new survey by LendingTree, an online lending marketplace.
“The high satisfaction rate amid the hot market makes sense,” says LendingTree senior economist Jacob Channel. “Given the market climate, prospective homeowners were willing to do what it took to buy a home. And with low-interest rates in 2020 and 2021, buyers could make financial compromises to guarantee their purchase.”
Read more by Brenda Richardson at: Forbes
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What Your Salary Needs to Be to Afford a $1 Million Home
by Mia Taylor, Fortune, 1/19/2023
The number of homes in the United States valued at $1 million or more has steadily increased in recent years. A February 2022 report from Redfin showed that a record 8.2% of U.S. homes (or 6 million homes) were valued at $1 million or more. That figure was nearly double the number of homes with such a steep price tag prior to the pandemic.
While the total number of $1 million homes has decreased somewhat since then, dropping to 6.5% as of December, according to a Redfin representative, it’s still far more than the 4.8% inventory share such pricey homes represented prior to the pandemic.
Read more by Mia Taylor at: Fortune
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in November
Avg List Price of homes sold: $1,444,500
Average Sold Price: $1,399,833
Average Sold $/SF: $829.86
No. Homes Sold: 6
Sold Range: $889,000 - $2,100,000
Single Family Homes - Sold in November
List Price of homes sold: $2,981,667
Sold Price: $2,896,708
Sold $/SF: $842.23
No. Homes Sold: 3
Sold Range: $2,150,000 - $3,300,000 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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