Here’s where you’ll find the highest—and lowest—priced homes
By Elijah Chiland Aug 20, 2018, 10:39am PDT
The study illustrates which parts of the Los Angeles area are home to the highest—and lowest—real estate prices, based on sales data from the first half of 2018.
In a map of neighborhoods tracked by the real estate research firm, most regions are shaded blue, meaning that median home values there are under $1 million. But houses sell for far more than that in a few exclusive pockets of the LA region.
Malibu Colony Beach boasts the highest prices in the area, largely thanks to the sale of a seaside mansion which billionaire Daryl Katz purchased for $85 million earlier this year. But the neighborhood’s astronomical median sale price isn’t just a one-time fluke. That $10.65 million figure is nearly 11 percent lower than the median price this time last year.
Homes in Beverly Hills aren’t much cheaper. Property Shark divides the city up into three distinct neighborhoods: Beverly Hills Gateway, Trousdale Estates, and Beverly Hills Flats. Median-priced homes in those areas cost $9.6 million, $8.35 million, and $7.45 million, respectively.
Four other Malibu neighborhoods (Serra Retreat, Carbon Beach, La Costa, and Broad Beach), along with the North of Montana neighborhood of Santa Monica and the Hill section of Manhattan Beach, round out the top ten priciest areas in LA.
On a neighborhood level, Los Angeles is home to some of the highest home prices in the nation, putting even Manhattan’s priciest enclaves to shame. According to the report, the median price in Malibu Colony Beach was almost three times higher than that of Tribeca, currently the most expensive neighborhood in New York City.
But the gap is wide between the most and least costly neighborhoods in the region.
Watts was the least expensive neighborhood analyzed by Property Shark. So far this year the median sale price there is $335,000. Two Long Beach neighborhoods—Rose Park and Zaferia—were close behind with median prices of $355,000 and $359,000, respectively.
In total, the report identified more than 40 neighborhoods where median prices are under $500,000. On the flip side, prices are hovering above $2 million in 25 different neighborhoods around LA.