Evidently, not very far.
If you’re seeking some of the hottest neighborhoods in Los Angeles, you won’t have to look very far in order to see a fairly long list of highly desirable areas. In fact, according to a recent report by the MLS (Multiple Listing Service), not very surprisingly, some of the most sought after locales here include Silver Lake-Echo Park, and Venice.
On this list you will also find Atwater Village, along with Westchester and West Hollywood, as well as both North and South Inglewood – which may be rising in popularity due in part to the soon-to-be-completed new Rams football stadium.
Also included, due primarily to their increased selling prices, are Malibu and Malibu Beach, as well as the Brentwood area. Based on the MLS research, the number one hottest neighborhood is Monterey Hills. Sales volume here was up almost 140 percent over the third quarter of last year.
Likewise, in Boyle Heights, nearly 40 homes sold, giving this neighborhood an increase of 87 percent over the same quarter in 2015. There is some talk that this vicinity may be LA’s newest gentrification hot spot. So far, though, there has not been an overabundance of evidence to say whether or not this is the case.
So, what exactly determines a hot neighborhood? There are a couple of parameters, but primarily they include those areas where the combined value of all of the homes that were sold in the previous quarter have risen the most. This could be due to more total home sales, higher prices – or both.
image credits: Lonely Planet