Mt. Washington: One of LA's Hot Real Estate Neighborhoods in 2016
Tracy King Realty
Houses, Investment Homes, Real Esate Listings
Let there be no mistake: Homes for sale in Mt. Washington, a hillside region of Northeast Los Angeles, are in high demand by homebuyers seeking views and an artistic, progressive community to live in. It is considered to be one of LA’s hottest neighborhoods.
Redfin is a well-known residential real estate company that analyzes information on their web database to determine the neighborhoods of the highest demand throughout the country. Redfin organizes their web traffic by looking at the neighborhoods with homes marked as “favorite” and the recurrence of individual searches for homes in neighborhoods. Based on this data, Redfin makes a scientific prediction of what they believe the “hottest” neighborhoods of the year will be. In past years, they predicted hot spots that continue to be popular today like Highland Park and Eagle Rock. For 2016, there is another Northeast Los Angeles neighborhood that has won the top title. Mount Washington.
Mount Washington is a charming community tucked into the mountains of Northeast Los Angeles. Mount Washington is characterized by its architecturally stimulating homes, its curvy private roads, and its high quality elementary school. These are not the only highlights of this neighborhood. Mount Washington is a comfortable distance away from the city, which allows its inhabitants to detach from the busy life and enjoy hillside serenity. The 110 freeway flows right past the mountain allowing residents quick access to Downtown LA or Pasadena. The elevated mountain where Mount Washington sits allows residents to enjoy breathtaking views regardless of the direction they face. The tall trees and vas t shrubbery provide a perfect enclave for artists and nature lovers alike.Lucky residents may spot wildlife such as coyotes in the early mornings or hawks in the bright afternoons.
Mount Washington real estate is more expensive than many neighborhoods on the east side. The homes here are increasing in both value and price as surrounding neighborhoods become gentrified elevating Mount Washington as a particularly desirable location. According to Zillow the average home price in the housing market is $562,800. Mount Washington is approximately 25% above the average home price ranking in at $699,000 as the median home price. This fair price for LA’s hottest neighborhood reduces the average listing days on the market to a short 18 days. The race to obtain a Mount Washington home is often a swift and aggressive one. For the rare few that are leaving Mount Washington, these sellers are obtaining 103.7% of their original asking price.
Redfin’s reliable predictions have earned solid credibility over the last several years. Now is the time to invest in Northeast LA property while the prices are still reasonable. As more people discover the aesthetic homes and magical hills of Mount Washington, we can plan on the prices to rise and the availability of homes to decline.
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