ZipRealty Names the 10 Most Expensive Zip Codes in Los Angeles

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FOR IMMEDIATE RELEASE
Media Contact: Stacey Corso
510.735.2667

scorso@ziprealty.com


The most expensive zip code is 90402 or Santa Monica, followed by 90272 and 91108.

EMERYVILLE, Calif., Aug. 6, 2014 - ZipRealty, Inc. (http://www.ziprealty.com) (ZIPR), a leading online residential real estate brokerage and provider of technology and marketing solutions, has released a new study on the most expensive zip codes in Los Angeles County. Zip codes in Santa Monica, Pacific Palisades and San Marino are the most expensive as the first half of 2014 came to a close. The median home sales price in zip code 90402 was $3.7 million, followed by 90272, where the median price was $2.4 million, and 91108, where the median price was $1.9 million.

The median price in Los Angeles County increased 6% year-over-year at the end of June to $459,000. In the 23 metros surveyed by ZipRealty in its June 30 Housing Trends Report, the median price was $298,000, representing overall growth of 6.6%.  

"Los Angeles home prices remain healthy relative to the rest of the country," said ZipRealty CEO Lanny Baker. "Sellers are achieving full asking prices for the homes they put on the market, according to our report. As of June 30, the sold-to-list-price ratio in the Los Angeles metro area was 100%, compared to 98.9% for the 23 metros we survey."

Here`s a list of the most expensive zip codes in Los Angeles as of June 30:

Zip Code Neighborhood Median Sales Price June 2013 Median Sales Price June 2014 Year-Over-Year Price Growth
90402 Santa Monica $3,230,000 $3,700,000 15%
90272 Pacific Palisades $1,750,000 $2,375,000 36%
91108 San Marino $1,850,000 $1,943,000 5%
90266 Manhattan Beach $1,630,000 $1,887,500 16%
90265 Malibu $1,800,000 $1,830,000 2%
90049 Brentwood, Bel Air $1,500,000 $1,675,000 12%
90210 Beverly Hills $2,090,000 $1,580,000 -24%
90291 Venice $1,290,000 $1,485,000 15%
90254 Hermosa Beach $1,205,000 $1,380,000 15%
90004 Greater Wilshire $878,850 $1,359,500 55%

Maximizing Home Values in L.A. Neighborhoods
"Although real estate conditions in these markets are stellar, many sellers in the region are contending with higher inventory numbers and an increase in the amount of time properties are trading," Mr. Baker said.

For sale housing inventory jumped 26% year-over-year as of June 30, while median days on market reached 28, compared to 20 days in June 2013, a 40% increase. 

"But no matter where their properties are located, the home selling tools on ZipRealty.com can help people get the highest listing prices," noted Mr. Baker. "Our Seller Center is one of the most important tools for home sellers: It brings together the many components essential in the home-selling process all in one place."

Among the features available on ZipRealty`s Seller Center include:

  • Home Value Estimates: A one-stop shop for property value estimates, this page aggregates estimates from four different sources, including the SmartZip home value tool.  
  • Interactive Pricing Tool: Custom-built by ZipRealty, this innovative pricing tool lets owners identify comparable properties and analyze recent home sales trends.
  • Expert Opinion: Local agent experts are available to help refine the listing price, develop a real estate marketing strategy and assist sellers through the listing and selling process.


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www.ziprealty.com

About ZipRealty, Inc.
ZipRealty is a leading national real estate brokerage and provider of proprietary technology and comprehensive online marketing tools for the residential real estate brokerage industry. For home buyers and sellers who increasingly want control, choice and a seamless, customized service, ZipRealty offers Internet-enabled, state-of-the-art technology and complete access to accurate, timely information via its website and mobile applications, which real estate professionals can combine with their own local knowledge and personal expertise to offer an exceptional start-to-finish client experience. For real estate professionals who seek more productive ways to conduct business, ZipRealty provides technology and online marketing tools to enhance their online sales channel, including lead generation, conversion and service of their clients. ZipRealty`s technology and online marketing products serve its full-service, owned-and-operated residential real estate brokerage business in 19 markets nationwide, as well as its Powered by Zip network of leading third-party local brokerages in 21 markets.




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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ZipRealty via GlobeNewswire

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