Playa Vista Market Report: Shrinking Inventory, Rental Prices Increasing, and 2 Must See Open Houses This Sunday!

There are only 10 active listings in the Playa Vista condo resale market and properties seem to go into escrow as quickly as they appear on the market. Several sellers with active listings are already in negotiations, so the total inventory may dip into the single digits by the end of the week, which will be this year’s all-time low. As for the single-family resale market, the total number of closed sales saw a significant increase from a year ago as there is more inventory available for sale in Phase Two.

The one sector of the real estate market that I don’t often write about is the rental market, specifically the inventory offered by individual homeowners that excludes leases available from the eight apartment complexes in Playa Vista. The rental market has always been strong and 2017 is the most active year yet. The increase in prices stem from strong demand. When compared to a year ago, the median rental price has increased by nearly 6% from the same in 2016. 

This week, I am pleased to announce a new price for 5400 Playa Vista Drive #3 and a new listing at The Metro. Both will be open on Sunday, 8/20, from 2-5 pm:

5400 Playa Vista Drive #3 | 3 Bd + 1 Ofc Nook + 2.5 Ba + 3-car Garage
Approx. 1,920 SF 
| Total HOA for PVPAL & BWM is $690 | Offered at $1,270,000
A one-of-a-kind gem in Silicon Beach…This modernist townhouse has been completely remodeled from top to bottom. The blend of minimalistic Scandinavian aesthetics and sleek, ethereal color pallet makes this high-tech living at its finest. The owners spared no expense in re-designing this timeless modern masterpiece to include new kitchen with European cabinets, center island, extended footprint with Asko and Kitchenaid Architect series appliances and Caesarstone countertops; Two lofts transformed into separate bedrooms; all bathrooms updated with new finishes; natural white oak laminate flooring throughout; UV window film; designer light fixtures with upgraded dimmers, Nest thermostat, and Culligan water filter and softener system. All in all, this is today’s contemporary lifestyle at its very best and will surely appeal to any buyer looking for something extraordinary!

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The Metro #215 – 5625 Crescent Park West | 2 Bd + 2 Ba
Approx. 1,230 SF 
| Total HOA for PVPAL & The Metro is $683 | Offered at $838,000

Come home and relax in the peace and quiet of this tranquil ‘ZEN’ floor plan at The Metro. This perfectly upgraded, single level home clearly exudes true style and grace. There’s a laid-back flow from the front entrance, through the welcoming foyer and into the great room with opulent wood floors, cozy fireplace, custom-built media nook, and a glass paned door that leads you onto a patio surrounded by lush greenery. Stop and admire the gourmet kitchen with granite countertops, designer backsplash and maple hued cabinetry. At the end of the hall you’ll find the Master bedroom with a door to the patio, his and her closets, and a spa-like bath with double sinks and a soothing, soaking tub. The second bedroom has a full bathroom across the hall with an oversized, glass enclosed shower. Also worth mentioning are the plantation shutters; a secured, private storage room right outside the front door; and SxS parking. This one definitely is a must see, and we promise you won’t be disappointed!

For more information about any of the new homes or other properties featured in this newsletter or this week’s open house schedule, please feel free to contact me. I will be happy to offer you information about the community, Playa Vista Elementary School and the dynamic marketplace.

Have a fantastic weekend!

Winnie Licht
Broker, Realtor ®
CalBRE #01272501
Palm Realty Boutique
Phone: 310-745-7468
Email: winnie@winnielicht.com
www.PlayaVistaHomeSales.com
THE PLAYA VISTA SPECIALISTS

 


Featured Homes

 

IN ESCROW!
13077 Bluff Creek Drive in Icon | 4 Bd + 2 Ofc + 3 Full Ba + 2 Powder + 2 Balconies
Approx. 3,860 SF | Total HOA for PVPAL & Icon is $481 | Offered at $2,360,000

1IN ESCROW!
The Lofts #213 – 13020 Pacific Promenade | 2 Bd + 2 Ba + Large Balcony
Approx. 1,090 SF | Total HOA for PVPAL & The Lofts is $670 | Offered at $812,000

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SOLD AS THE HIGHEST PRICED PLAN 3 IN BRIDGEWAY MILLS!
Bridgeway Mills #19 – 5400 Playa Vista Dr. 
| 2 Bd + Loft +2.5 Ba + 3 Patios + 3-car garage Approx. 2,050 SF | Total HOA for PVPAL &  BWM is $690 | Sold at $1,240,000

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LEASED!
6315 Para Way | 3 Bd+Den+3 Full Ba+2 Powder+3-Car Garage
Approx. 3,585 SF | Offered at $8,300 per month

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IN ESCROW IN JUST 1 WEEK AND SOLD FOR $35,000 ABOVE ASKING!
Serenade #128 – 13031 VIllosa Place #128 
| 2 Bd + Office +2.5 Ba + 2 Patios + Storage cage
Approx. 2,020 SF | 
Total HOA for PVPAL & Serenade is $759 | Sold at $1,225,000

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IN ESCROW WITHIN 3 DAYS AFTER DEBUTING & SOLD AT ASKING!
Tapestry II #3 – 6020 Celedon Creek 
| 3 Bd + Large Room of Garage + 2.5 Ba + 2-car garage Approx. 2,140 SF | Total HOA for PVPAL & Tapestry II is $630 | Sold at $1,376,500

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SOLD FOR $123,000 OVER ASKING AND CLOSED IN 21 DAYS!
Esplanade #309 – 13080 Pacific Promenade | 2 Bd + Office + Alcove + 2.5 Ba + 2 Balconies Approx. 1,653 SF | Total HOA for PVPAL & Esplanade is $572 | Sold at $1,108,000

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SOLD FOR $20,000+ OVER ASKING IN 1 WEEK!
Carabela #336 – 12975 Agustin Pl 
| 2 Bd + 2.5 Ba + Patio | Approx. 1,640 SF
Total HOA for PVPAL & Carabela is $650 | Sold at $950,00 

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