Submarket Snapshot: Homes in Westwood and Century City in Q1 2016

Luxury values were 3.3 percent higher than the same period a year ago

TRD LOS ANGELES /
May.May 13, 2016 05:46 PM

Single-family residence values continued to climb in the Century City and Westwood area in the first quarter, according to a report by the Agency, which looked at homes sold for more than $1 million. 

Average valuations topped out at $844 a square foot, 3.3 percent higher than they were in the first quarter of 2015.

The valuation also represented a five-year increase of 39 percent, according to the report. In the first quarter of 2011, the average valuation was $607 a square foot.

Sales volume surged 81.8 percent to 40 closed deals.

In the condo market, pricing increased significantly. Condos sold for an average of $1.17 million, 11 percent higher than in the same period a year earlier.

 

Related Articles

arrow_forward_ios
Michael Rosenfeld,,Simon Reuben and David Reuben, with a rendering of Century Plaza (Credit: Presley Ann/Getty Images, and Dave Benett/Getty Images)

Michael Rosenfeld’s Woodridge Capital lands $275M loan for Century Plaza

Michael Rosenfeld’s Woodridge Capital lands $275M loan for Century Plaza
Century Plaza Towers (Credit: Minnaert via Wikipedia)

Here’s what tenants pay at 2.4M sf Century Plaza Towers

Here’s what tenants pay at 2.4M sf Century Plaza Towers
A suburb of Los Angeles (Credit: iStock)

TRD analysis: LA County home sales are down, but prices are up

TRD analysis: LA County home sales are down, but prices are up
Matthew Perry and the apartment (Credit: Kevin Winter/Getty Images and Compass)

Matthew Perry slashes price on massive Century City penthouse

Matthew Perry slashes price on massive Century City penthouse
Michael Rosenfeld and a rendering of Century Plaza (Credit: Presley Ann/Getty Images for THR)

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza
From left: The Century tower and a Sierra Tower

LA condo sales had been improving in Q1: report

LA condo sales had been improving in Q1: report
Belmont Village CEO Patricia Will and a rendering of the Westwood project (Credit: City of Los Angeles via Urbanize)

Senior housing and church complex planned in Westwood

Senior housing and church complex planned in Westwood
Woodridge Capital Partners’ CEO Michael Rosenfeld and Sales Director Mary Ann Osborn with a rendering of the project

A $2.5B litmus test for the Century City luxury market

A $2.5B litmus test for the Century City luxury market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...