The Southern California real estate market is heading to a busy 2021. Experts of the world-famous region, all members of the Haute Residence network of top real estate professionals, provided their insights on the markets in their areas, including the overall Los Angeles metropolitan area.
670 Perugia Way, Los Angeles, CA 90077, listed by Ernie Carswell
Photo Credit: Jonathan Golden
“I am so proud of the City of West Hollywood. Of all the Los Angeles regional townships, West Hollywood has been visionary in its development plan for the beautification of the famous Sunset Strip retail & restaurant locations. Impressive world-class hotels have located here. Parks and broad avenues have been created. West Hollywood is a joy.” - Ernie Carswell, West Hollywood, CA.
22065 Pacific Coast Hwy, Unit 1, Malibu, CA 90265, Listed by Jeff Chertow
Photo Credit: Marcelo Lagos
"Malibu is still one of the most sought after locations in the world. I believe that prices will continue to increase as inventory is low. In 2020 we saw an influx of people moving to Malibu and I believe that people who have moved here have realized what an incredible place Malibu is." - Jeff Chertow, Malibu, CA.
Miramar Beach, Montecito, CA 93108, listed by Cristal Clarke
Photo Credit: David Palermo
“Montecito has seen exceptionally strong sales volumes in 2020 as the urban flight into our local communities continues. This, combined with increased Buyer activity from local homeowners, is expected to continue in the early part of 2021 and I see no reason for it to be otherwise.” - Cristal Clarke, Montecito, CA.
3555 Shaw Ranch Road, Pasadena CA 91107, listed by Tim Durkovic
Photo Credit: Mark Liddell
“Based on what has been happening as we close out 2020, I fully expect the Pasadena market to continue to thrive into 2021. Our median price just broke 1M and we are still seeing tight inventory, which is leading to multiple offers on many transactions at every price point! There is an influx of people wanting to live in Pasadena from the more western areas of LA because buyers typically can get more space, more house for their money, and a fantastic overall quality of life, all while still being minutes to everything.” - Tim Durkovic, Pasadena, CA.
Montecito, CA, listed by Wendy Gragg
Photo Credit: David Palermo Photography
“November marked the 13th consecutive month of very low inventory and it set an all-time record low of only 1.99 months of supply. Buyers, especially from Los Angeles and San Francisco have created a record-breaking year in sales revenue in 2020. I expect to see low supply and strong demand continue into 2021.” - Wendy Gragg, Santa Barbara, CA.
2576 Bowmont Dr, Beverly Hills, CA 90210, listed by Jeff Hyland
Photo Credit: Hilton & Hyland
“Just as the Spanish Flu gave birth to the Roaring Twenties, we feel the years ahead have many records that will be broken. Buyers who want to be in here have multiple residences and California Taxes aren’t any concern.” - Jeff Hyland, Bel-Air, CA.
650 Picacho Lane, Montecito, CA 93108, listed by Joyce Rey
Photo Credit: Roy Gelbart | One Shot Productions
“I am anticipating that 2021 will be the best year ever for Luxury Real Estate in Southern California. Normally December is a relatively quiet month! However, the Joyce Rey team is currently negotiating five properties between five and $20 million, which is an extraordinary number at any time! Both hope and optimism are evident with vaccines on the horizon! An improving economy and renewed focus on the home environment will spur residential investments in 2021!” - Joyce Rey, Beverly Hills, CA.
Beach House, 1300 The Strand, Hermosa Beach, CA 90254, listed by Cindy Shearin
Photo Credit: Linda Cotter
“With the new year upon us, we expect a continuing robust market in the greater South Bay. Luckily, real estate here has been hot for both the buyer and the seller during the 2020 pandemic. This has been largely due to our area's desirability in which to live, low inventory, and minimal new construction." - Cindy Shearin, South Bay area, CA.
4639 Gorham Drive, Corona del Mar, CA 92625, listed by Timothy Norman Tamura
Photo Credit: Andrew Bramasco
“The overall Corona del Mar market has seen a 32% increase in sales for 2020 vs. 2019. The year over year growth in Corona del Mar can be attributed in part to pent up demand following the initial pause caused by Covid-19, migration from dense urban metro markets, i.e. NY, LA, SF, and historically low-interest rates. The foregoing factors have placed pressure on the already strained inventory. For 2021, it appears the current pace will continue, unless and until inventory and demand are more in equilibrium.” - Timothy Norman Tamura, Corona del Mar, CA.
12776 Aurora PL #3, Playa Vista, CA 90293, listed by Kris Zacuto
Photo Credit: Hilton & Hyland
"We anticipate seeing current trends continue with a slight rise in home sales and home prices in most Silicon Beach areas - such as Westchester, Mar Vista and Playa Del Rey. Playa Vista home sales should also maintain similar levels in 2021 although prices behave a bit differently in that market as home and condo prices are seeing decreases year over year." - Kris Zacuto, Silicon Beach, CA.
