Culver City Real Estate. The Year in Review

Culver City Market Report / By /

Culver City is one of the up-and-coming areas of Los Angeles.  Culver City is one of the more sought-after neighborhoods due to its place on the Expo line which runs from Downtown Los Angeles, to be continued to Santa Monica, and the gentrification of its downtown area with boutiques, galleries and restaurants.

Let’s take a look at how Culver City real estate fared in 2012:

Culver City Single Family Sales

Sold +/- 2011 Range Median +/- 2011 Active Range Median Pending
218  +66 $237,525 to $1,305,000 $649,500 +12.32% 22 $350,000 to $1,190,000 $649,500 23

Culver City condo sales 

Sold +/- 2011 Range Median +/- 2011 Active Range Median Pending
198 +36 $137,000 to $750,000 $275,000 -7.25% 12 $324,900 to $1,200,000 $699,000 46

 

Sellers Market Balanced Market Buyers’ Market
Less than 5 months 5 to 7 months More than 7 months

Information taken from the MLS/CLAW deemed reliable but not guaranteed

Sales were up significantly in 2012 over 2011, with the median price up 12.32% for single family homes and down slightly (7.25%) for condos.

There is a severe shortage of inventory in both categories which makes Culver City an extreme sellers’ market.

Homes for sale in Culver City

 

Condo Condo
Land Land
Rental Rental
Single Family Single Family