Venice now as expensive as 90210
The Westside of Los Angeles gets divided up in many ways. You have the actual cities like Santa Monica, Culver City, or El Segundo. Then you have the villages like Venice, Westwood, or the very hot Playa Vista. Then there are the regional divisions that are much more nebulous and don’t show up on the map.
Redfin has now offered their own view of what comprises West LA. This West LA is not to be confused with the neighborhood of West LA, which is the section around the 405 and Olympic. Rather this is the more sweeping area they have mapped out to include LAX to the Palisades and inland to Bel Air, Beverwill, Culver City and Fox Hills.
Others have carved out a slightly different area called the Westside, and one might suspect that where the boundaries lie on either of these maps might be in the mind of the beholder only.
The newest regional call-out is Silicon Beach. There is no obvious boundary lines on what exactly makes up Silicon Beach yet, but clearly the beach part has very little to do with it. Stretching from The Palisades to Manhattan Beach, some maps even have Silicon Beach stretching along the 10 Fwy to the hipster lofts downtown.
This is the first time that Redfin has defined this area and also given data specific to the West LA subset. They found that the median home price was just about double that for all of Los Angeles at $1.15M. The also noted that the Venice neighborhood seems to have been the biggest beneficiary of the craziness in this region, with the median home price reaching $1.7M equal to the tony Beverly Hills 90210 area.
Whatever you choose to call the cities and neighborhoods around the 10/405 junction, one thing is certain, the boom is on and is unlikely to slow down any time soon. Tech is moving in, and the salaries and stock options provide these new arrivals with all the qualifications they need to afford the rents and purchase prices.
If you are considering purchasing a home in West LA, the Westside, Silicon Beach or any where nearby, and you need a mortgage to make it happen, call Bill Rayman for a GuaranteedRate.com quote at (424) 354-5325
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