The areas that have benefitted the most from Silicon Beach…-Mar Vista, Culver City, Westchester to name a few…
The tech boom has benefited Los Angeles as a whole, but the residents that should be thanking their hi-tech friends the most are in Mar Vista, South Santa Monica, Playa Vista, Culver City and Westchester. These areas used to be considered the “affordable” adjacent areas to the uber expensive locales of Venice, North Santa Monica and Manhattan Beach.
Fun facts to know-
*The average 2015 sale price in Playa Vista was up 38% vs. 2014.
*In 2011, Mar Vista had 1 home sell for over $2M…in 2015, 31 sold for over $2M with three homes selling for over $3M.
*The average sale price in Westchester was $798K in 2013…in 2015, it was $1.040M.
*The average sale price in South Santa Monica was up 14.5% in 2015…Culver City was up 19.3%!
*A home in South Santa Monica on 32nd street between Pico and Ocean Park is in escrow for around the $3.8M asking price.
By John Skinner
