The Ladera Market

September 2017.  The market in Ladera Heights is solid with many homes now selling for $1 million or more.  Buyers are often coming from pricier areas on the west side like Santa Monica, Venice, Playa Vista.  They are attracted to the architecture, square footage and large lots that they could never touch in those areas at the price point they sell in Ladera Heights.  Scroll down for up-to-date data on recent sales in Ladera Heights.   Many of the listings hitting the market are homes owned by long time residents that are now ready for some updating or a major remodel.   Inventory levels remain low and Buyers understand they often face competition.   Ladera Heights (west of La Cienega) has 1716 single family homes and Old Ladera (east of La Cienega) has 497 single family homes.   During 2016, only 47 homes sold according to data from the Multiple Listing Service.   That’s about a 2% turnover rate and even with a few private sales not reported by the MLS, very few homes have been listed for sale.  So far in 2017 turnover is also very low with just 45 closed sales to date.  Both Ladera Heights and Old Ladera have an owner occupancy rate of just under 90%, so out of every 10 homes, only one is tenant occupied.

To date in 2017, the median sale price in all of 90056 zip is $1,077,500 and the median selling price per square foot is $449.   Those numbers are only averages – homes will sell at wide ranges in terms of price per square foot depending on the location, condition of the property etc.  Compare this to Culver City where price per square foot averages about $760 or Venice where the average price per square foot is a whopping $1200.

It’s very important to have a clear understanding of where homes are actually Selling.   Since the market started to take off in 2012 the highest recorded sale price for a home in Ladera Heights (according to the MLS) is $1,900,000 for the home at 6401 S. Sherbourne that was listed for $2,225,000  ($500 per square foot).  It’s a large 7 bedroom home with a pool on a large double lot.   So far in 2017, our listing at 5337 Shenandoah is the highest sale at $1,750,000.    Although many homes sell quickly after receiving multiple offers, there are homes that are sitting on the market and take a long time to sell.  Usually this happens when they are either priced too high and/or not marketed correctly.   This is why it’s so important to hire a professional agent who knows and works the Ladera Heights market regularly. 

For those of you planning on listing your home on the market, it’s smart to plan ahead and start getting the house ready.   The better the house shows, the better chances you have of getting the price you want.  Many Buyers can’t see past messy homes, peeling paint, clutter etc. so pay attention to the details.

We hope you’ll consider us to represent you but no matter who you interview for the job do your homework.   There are many agents out there who don’t do much more than stick and sign in the front yard and sit there waiting for offers.  Although that may be all they need to do to get it sold – that won’t ensure that you’re getting the highest price.  There are also agents who spend a lot marketing themselves and charge you a high commission to pay for all those bus stop signs etc.  You want to make sure you’re hiring someone who spends money marketing your home!  Hire someone who will really go to bat for you and will earn that commission.   For an example of what great marketing we do visit www.5337Shenandoah.com   We can do the same thing for your home!

We can send you data directly from the Multiple Listing Service and we can also easily set you up to receive automated updates as new listings hit the market or anytime something in your area sells.

Ladera Heights Home Sales in 2017 Ranked by Sale Price

ADDRESS                       SOLD PRICE  BED/BATH  SQ. FT.

5337 Shenandoah          $1,750,000           4  +  4        3,419

5124 S Garth                  $1,600,000            5 + 6          5,200

6209 Senford Ave          $1,450,000            5 + 4          3,462

6181 Wooster                  $1,475,000            5 + 4         3,251   $5,000 over asking

6433 Springpark               $1,450,000           5 + 4         3,581  $151,000 over asking

5008 S. Chariton               $1,400.000           4 + 4         3,044

6525 Springpark             $1,350,000             5 + 4          3,212

5817 Wooster                   $1,310,000            3 + 4          2,582

5402 Reynier                    $1,269,000           3 + 3           2,340  Asking

5664 W. 62nd St               $1,265,000           4 + 3          2,900

5540 W. 62nd St.              $1,250,000           4 + 3        2,760    $30,000 over asking

4836 Shenandoah           $1.250,000            4 + 3         2,619   Asking price

5602 W. 63rd                    $1,235,000            4 + 3         2,764

6109 Wooster                   $1,250,000           4 + 3         2,649    $1,000 over asking

5427 Marjan                      $1,200,000            3 + 3        2,502     $15,000 over asking

6318 Wooster                    $1,200,000            5 + 4       3,317     Asking price

5624 W. 62nd                     $1,155,000          3 + 3         2,420    $155,200 over asking

5630 S. Garth                     $1,155,000          4 + 5        3,154

5911 S. Garth                     $1,140,000          3 + 3         2,258    $40,000 over asking

6616 S. Holt                        $1,140,000          4 + 3          3,020   $160,100 over asking

5535 Bedford                      $1,100,000           4 + 4         3,073    $80,000 over asking

5646 S. Sherbourne           $1,090,000          3 + 3          2.043     $25,000 over asking

6017 S. Le Doux                 $1,065,000           4 + 3         2,335

6419 Shenandoah              $1,050,000           5 + 4         3,437

6435 S. Sherbourne           $1,040,000           3 + 3        2,343    $91,000 over asking

5914 S. Holt                        $1,000,000            5 + 4       3,210

6602 Wooster                    $985,000              4 + 4          2,969    Asking

5876 S. Chariton               $977,000               3 + 2         1,841     $2,000 over asking

5604 S. Sherbourne           $947,000             3 + 3          2,057

5922 Flores                         $945,000            4 + 3          2,785

6043 S. Garth                    $938.,200             3 + 2          2,062

6125 Flight Ave                 $925,000               3 + 2         1,896

6233 S. Corning                $918,000               3 + 3          2,312     $259,000 over asking

5930 S. La Cienega           $915,000             4 + 3           2,682

6004 Damask Ave              $895,000            3 + 2           1,650   $16,000 over asking

5815 S. Chariton               $890,000             3 + 2            1,895

6019 S. Kings                    $855,000            4 + 2            1,714  $5,050 over asking

6118 Damask                     $821,000              3 + 2          1,411   $21,000 over asking

6263 S. Fairfax                  $800,000             3 + 2           1,410   $1,000 over asking

5516 S. Holt                       $757,666             3 + 2           2,068

5719 S La Cienega            $590,000            4 + 3            2,325

6004 Damask Ave              $577,000             3 + 2           1,650   $52,000 over asking

Ladera Heights Highest Selling Home to Date

ADDRESS                       SOLD PRICE  BED/BATH  SQ. FT.

6401 S. Sherbourne        $1,900,000         7 + 4         4,435

 

 

Source of data is theMLS and public records.   Information deemed reliable but not guaranteed.

Thinking of Selling?  Contact Kevin at (310) 200-4916 or email kevindbacher@gmail.com or Brian at (323) 273-5104 or email brianellenberger3@gmail.com