Westwood, the home of UCLA, is a diverse community consisting of the upscale area of single family homes in Holmby Hills, home of the Playboy Mansion and Candy Spelling's $150 million dollar home; the multi-million condo district known as The Wilshire Corridor, the Golden Mile, or Millionaire's Mile, and, south of Wilshire Blvd. a mix of more affordable single family homes, condos and apartments, although Westwood is one of the higher rent districts in Los Angeles.
Built in 1929, Westwood Village's retail area has suffered recently because of the competition from nearby Century City mall and the revitalization of Culver City, amonst others, but it is still home to the landmark Fox Theater with itsn white tower, the Mann Bruin, and the art deco Majestic Crest. It still caters to the UCLA student population with its selection of numerous ethnic restaurants.
The chart below shows the number of single family properties on the market in Westwood over the past year by month, the median price and the number of days on the market. The median price has dropped slightly from a year ago and days on the market have dropped.
The chart below shows the median price of Westwood sold homes by month over the past year and number of days on the market for those homes. The median price has increased significantly from a year ago, but so have days on the market. The number of properties sold has decreased. September, October, and November '09 were the hottest months for sales.
Area public schools are:
Emerson Middle School - Academic Performance Index* (API) for 2009 was 709
Fairburn Elementary School - API was 957
Warner Avenue Elementary School - API was 971
*Out of a possible 1000
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Thanks for sharing your local update report with us tonight
David, unfortunately, rents are ridiculously expensive all over L.A.
Harry, thank you very much for dropping by.
Good morning Jane,
Really great marketing report on the Westwood LA area! Sure consumers will find value in your report.
Great report on the Westwood community, Jane. The art deco area sounds interesting, we always enjoyed going down to the deco district on the beach in Miami. You live in such a diverse area - no wonder so many people want to live there with all CA has to offer.
Dorie, thank you.
Carol, actually the major art deco stuff is downtown. I think it is the best preserved art deco district in the country. Thanks for dropping by, I appreciate it.
Jane lots if interesting and useful information in your Westwood La market report. It is so true that one retail area can suffer because of newer retail development in other close by towns.