Silicon Beach Creates a High Demand for L.A. Westside Homes

Silicon Valley is well known, but have you heard of Silicon Beach? There has been a huge growth in start-up tech companies on the Westside in an approximate three-mile area covering Santa Monica, Venice, Marina del Rey and Playa Vista.

Companies such as Google, Microsoft, Facebook, Snapchat and Hulu have branched out into “Silicon Beach”, and Los Angeles as a whole probably has the the second or third highest concentration of tech companies in the world. With this kind of growth there would be a high demand for homes normally, and this is compounded by the severe shortage of inventory.

In the area are a grand total of 93 single family homes for sale with a median price of $2,149,000, and 186 condos with a median price of $949,500. Average days on the market are 59 for single family and 101 for condos.

For those looking for a lease the Multiple Listing Service shows 192 available properties at a median of $5,200 a month.

There is no better time to sell your home Los Angeles home right now, especially if you are living in those areas. And if you are a buyer looking for an investment and can get in, the timing is perfect.

 

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