Monday, November 9, 2009

Sunset Strip - Hollywood Hills Market: October 2009 -- Best of Hills sells at $815/sq ft -- Median Price $1,112,500

37 houses sold in the Sunset Strip - Hollywood Hills West area in October 2009. The median price was $1,112,500, nearly unchanged from the median price in September of $1,095,000.
1899 Rising GlenThe highest priced sale was 1899 Rising Glen Road, which sold for $4,500,000. This house in the Doheny Estates neighborhood has 5 bedrooms, 7.5 baths and 5,522 sq ft of living area and closed at $815/sq ft.
1485 N Doheny1485 N Doheny Avenue, in the same neighborhood, sold for $3,595,000 after a brief six days on the market. This Paul Williams traditional, which has 3 bedrooms, 3.5 baths, and 4,440 sq ft of living area, sold for $810/sq ft.
2767 La Cuesta Hollywood HillsNow let's take a look at how values have declined over the past few years. 2767 La Cuesta Drive, a 2 bedroom, 2 bath mid-century home with pool sold for $1,200,000 last month. The previous sale was for $1,450,000 in May 2007 -- or a decline in value of 17% in two and one-half years.

7615 Jalmia Place7615 Jalmia Place, with 4 bedrooms, 4.5 baths and 3,300 sq ft of living area sold for $1,112,500 in October. The previous sale was for $1,470,000 in June 2004 -- a decline of 24% in 5 years.

1784 Orange GroveOne distressed property sale shows how much values have gotten whittled down. 1784 N Orange Grove Avenue, in a central Hollywood location, sold for $570,000. The house has 2 bedrooms, 2 baths and 1,035 sq ft of living area. This is a condo alternative, with a condo-type price. Gone are the days when everything in the Hills starts at a cool million.

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