CAL DRE 01378982 Los Angeles

Community Overview

Welcome to one of the most dynamic and iconic cities in the world. The City of Los Angeles is synonymous with busy freeways, street art, palm tree-lined boulevards, and fantastic weather. Best known as “The Entertainment Capital”, LA is home to Hollywood and an influential entertainment industry that attracts top talent from all over the globe.

But there’s so much more to the city than lights, camera, action – LA is a cultural destination with more than 100 esteemed museums, historic sites, and many vibrant neighborhoods where you can set down roots and be part of a close-knit community.

Outside of media, entertainment, and professional sports, the city also offers numerous career opportunities with a thriving art scene, prestigious universities, top hospitals, and an ever evolving tech industry.

Downtown LA is pulsating with life – the restaurant scene is second to none while the collection of shops offers a fascinating mix of indie and best of brand retailers.

The LA nightlife is nothing short of legendary with bars, nightclubs, and music venues. It is also the largest government center right after Washington, DC with modern offices and sleek condos for those seeking the ultimate live-work-play environment.

History

The area that makes up present day LA was once home to the Tongva and Chumash Native American tribes. The city’s earliest settlers arrived in 1781 from northern Mexico and formed a prosperous farming community named the Town of Our Lady the Queen of the Angels. The old settlement still stands today and is recognized as a Los Angeles Historical Monument.

Southern California would earn the nickname “Land of Sunshine” in the 1880s for its natural beauty and temperate climate, with droves of visitors coming to LA and the surrounding area to escape the brutal winters in the Midwest.

Other historic structures in and around the city include the last remaining wooden lighthouse in California, which stands in San Pedro’s Fermin Park, as well as Downtown on Broadway, the largest historical theater district listed on the National Register of Historic Places.

Real Estate

LA is a hot real estate market, offering some of the finest properties in the world. From hillside mansions to multi-family properties, the housing market is remarkably diverse, offering a range of real estate options across different price brackets.

Los Angeles real estate is sought for its location, quality, and provenance. The city is best known for its 1920s Spanish and Mediterranean-style homes and Mid-Century Modern properties that embody the California Dream. The market also offers an exclusive selection of modern luxury and ultra luxury homes that will appeal to top-tier buyers and seasoned property investors.

LA home prices increased 23.3% in April 2021 compared to the year prior with a median price of $900,000. Homes also spent less time in the market, selling after an average of 38 days on the market compared to 42 days the previous year. There were 1,269 more home sales compared to 2020.

Demand for housing is expected to remain strong throughout 2020, which will likely force home prices upward.

Realtor.com statistics from March 2021 indicate that LA is a seller's market, with more people looking to buy than sell property. It’s a competitive market where the best-priced homes usually get multiple offers. Buyers should be prepared to act quickly and decisively when buying in this market.

A qualified agent can help you navigate the Los Angeles real estate market. Contact PropNation, Inc. today to schedule a consultation.

Cost of Living

The cost of living in LA is higher than the national average and most other places in Southern California. Housing is the biggest factor in most residents’ living expenses. But buyers are willing to pay a premium to live in this exciting city, which offers world-class entertainment and recreation.

The cost of living is partially offset by the median household income, which is also higher than the national average. Those who live in LA have plenty of career and business opportunities across different industries.

Lifestyle

The city offers many different lifestyles depending on where you live – places like Downtown LA, Hollywood, Century City, and Wilshire Center puts you in the middle of the action while affluent enclaves like Bel-Air have a more upscale feel. Venice is a picturesque neighborhood with a laid-back vibe while the Beach Airport and Harbor areas place an emphasis on outdoor recreation and wellness.

Click here for a full list of neighborhoods in the City of Los Angeles.

No matter where you decide to live, LA gives you big city energy with first rate amenities and plenty of culture and history.

If you’re ready to explore your options in Los Angeles, call PropNation, Inc. at 3103677611 or send an email to [email protected] to get started. You can also send your inquiries and search preferences here.

We’re a team of agents dedicated to helping clients find the right residential or commercial location in Los Angeles, New York, and Barbados. Under the leadership of Gil Corber, a real estate broker with over 22 years of experience, we provide access to exclusive listings and local expertise.