In Culver City real estate, things are definitely improving. We have only 41 houses for sale at the moment in Culver City and they run the gamut from desperately-in-need-of-TLC at $400,000 to desperately-in-need- of-a-price-reduction at $1.3 million (you know who you are!) Houses that are clean and well priced are moving fast, while those which aren’t, aren’t. Nothing says “Buy Me” like fresh paint and curbside flowers.
And the current entry price is $453 per square foot, which is up from last year and is good news for us homeowners. Meanwhile condos are still struggling to come up in value but they are starting to pick up as well. The cheapest condo right now is $219,000 and is a little one-bedroom one-bathroom shoebox on Summertime Lane (less than 600 square feet so you may have to step outside to change your mind). Meanwhile ,the priciest unit runs a whopping $845,000 (Culver Centrale smack in the middle of downtown).
Reflecting the pent-up demand for new construction in Culver City (especially in the uber-hot location of downtown), Culver Centrale has sold very rapidly with nine of the units going into escrow within a few months of hitting the market. Of these most had modest price reductions but are all still pulling in a nice dollar per square foot value of between $455 to $476 per square foot which is great for condos in our fair little city.
Have a great week!
Natalie Bergman is a licensed realtor, affiliated with the Beverly Hills and Greater Los Angeles Board of Realtors, California Association of Realtors and National Association of Realtors. She and her business partner, Nicole Costas, function as Socal Acquisitions LLC under the Keller Williams Realty shingle.
For more information or to contact Natalie Bergman, visit her website at www.socalacquisitions.com or email her at [email protected].