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Insider's Guide to Real Estate in Playa Vista
7/2/2022: The Los Angeles real estate market may finally be slowing down
This Week's Contents
1. This Week in Playa Vista
2. 2022 Marina del Rey 4th of July Fireworks
3a. Phase 1 - Single Family Homes For Sale: 1 listing
3b. Phase 2 - Single Family Homes For Sale: none
3c. Phase 1 - Condos/Townhomes For Sale: 11 listings (4 new!)
3d. Phase 2 - Condos/Townhomes For Sale: 3 listings
4. This week's avg 30-yr fixed-rate: 5.7%
5. The Los Angeles Real Estate Market May Finally Be Slowing Down
6. Southern California Housing Prices Will Fall, Some Experts Say. The Question Is How Much
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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2022 Marina del Rey 4th of July Fireworks
by Marina del Rey Tourism Board, VisitMDR.com, Summer 2022
There’s no better place in Los Angeles to see 4th of July 4th fireworks than in L.A.’s Marina. Enjoy dinner at waterfront restaurants in Marina del Rey with the best firework views. Charter a yacht for the ultimate close-up! Or head to Burton Chace Park or Fisherman’s Village for a family-friendly party atmosphere including synchronized music played over loudspeakers.
BASICS:
The fireworks show on Monday, July 4, 2022 starts at 9 p.m. and lasts 20 minutes. This is a popular event, with visitors traveling to the area from throughout the Southland. Plan to arrive as early as 1 p.m. and stay in the Marina to avoid traffic.
Read more by Marina del Rey Tourism Board at: VisitMDR.com
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A. Phase 1 - Single Family Homes For Sale
Last week: 1 listings at $1,987,000
This week: no change
Capri Court, 5740 Kiyot Way
$1,987,000 | 3BR, 4BA | 2376 SF
MLS #22-165123 - open Sat (7/2) & Sun (7/3)
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B. Phase 2 - Single Family Homes For Sale
Last week: none
This week: none
There are no new listings this week!
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C. Phase 1 - Condos/Townhomes For Sale
Last week: 10 listings, $1,364,500 avg price
This week: 11 listings, $1,369,545 avg price, 4 new!
Carabela #321, 12975 Agustin Place
$1,299,000 | 3BR, 3BA | 1840 SF
new! MLS #22-119317 - open Sat (7/2) & Sun (7/3)
Chatelaine #406, 5721 Crescent Park
$1,895,000 | 3BR, 3BA | 2346 SF
new! MLS #22-164329
Crescent Walk #410, 13200 Pacific Promenade
$849,000 | 1BR, 2BA | 1074 SF
new! MLS #22-174435 - open house Sun (7/3)
The Dorian #106, 6241 Crescent Park
$1,700,000 | 3BR, 3BA | 2400 SF
MLS #22-165995
Paraiso #103, 13173 Pacific Promenade
$1,350,000 | 3BR, 3BA | 1812 SF
MLS #22-158985 - open house Sat (7/2)
Primera Terra #261, 12920 Runway Road
$1,248,000 | 3BR, 2BA | 1310 SF
MLS #22-160989 - open Sat (7/2) & Sun (7/3)
Promenade #209, 13044 Pacific Promenade
$929,000 | 2BR, 2BA | 1100 SF
MLS #22-171961
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
Tempo #129, 6020 Seabluff Drive
$1,410,000 | 3BR, 3BA | 1750 SF
MLS #22-160317 - open Sat (7/2) & Sun (7/3)
Waterstone #227, 6400 Crescent Park
$799,000 | 2BR, 1BA | 960 SF
new! MLS #22-160153 - open Sat (7/2) & Sun (7/3)
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D. Phase 2 - Condos/Townhomes For Sale
Last week: 3 listings, $2,021,667 avg price
This week: no change
Camden, 12518 Fielding Circle #1
$1,825,000 | 3BR, 2BA | 1601 SF
MLS #22-161017 - open house Sun (7/3)
Camden, 12895 Runway Road #2
$2,375,000 | 4BR, 4BA | 2224 SF
MLS #21-100687
Mason, 5848 Suncatcher Place #1
$1,865,000 | 3BR, 2BA | 1880 SF
MLS #TR22135463MR - open Sat (7/2) & Sun (7/3)
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This week's avg 30-yr fixed-rate: 5.7%
The rapid rise in mortgage rates has finally paused, largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession. This pause in rate activity should help the housing market rebalance from the breakneck growth of a seller’s market to a more normal pace of home price appreciation.
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The Los Angeles Real Estate Market May Finally Be Slowing Down
by Delores Quintana, Santa Monica Mirror, 6/24/2022
The Los Angeles real estate market is showing signs of being affected by the rising levels of inflation and mortgage rates as the year progresses.
New data from Core Logic shows that the real estate market sales in May of 2022 are possibly the worst in 34 years, dropping 16 percent from the heights of May of 2021, as reported by CBS. Sellers have also started cutting the listing prices because buyers are having difficulty with the increase in mortgage rates and the country’s rising inflation. This has made potential buyers much more cautious about jumping in on a sale.
Read more by Delores Quintana at: Santa Monica Mirror
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Southern California Housing Prices Will Fall, Some Experts Say. The Question Is How Much
by Andrew Khouri, Los Angeles Times, 6/30/2022
Rising mortgage rates have slowed the housing market across the nation and Southern California. Sales are down, inventory is rising and many prospective buyers and sellers have a simple question: Will home prices fall?
According to some analysts, the prospect is growing more likely as the slowdown deepens, with some now adjusting their forecasts to call for price declines next year.
Read more by Andrew Khouri at: Los Angeles Times
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in May
Avg List Price of homes sold: $1,303,989
Average Sold Price: $1,328,236
Average Sold $/SF: $867.73
No. Homes Sold: 10
Sold Range: $858,000 - $2,000,000
Single Family Homes - Sold in May
Avg List Price of homes sold: $2,959,333
Average Sold Price: $2,976,667
Average Sold $/SF: $908.91
No. Homes Sold: 3
Sold Range: $2,055,000 - $3,500,000 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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