The Venice market west of Lincoln Boulevard has a significant resurgence in pricing and volume over the past four years. Inventories remain at historic lows, and pricing still has room to run.
Santa Monica, while already priced higher than other local markets, has a large opportunity in the eastern part of the City, with older houses, larger lots, and a rapidly expanding job base.
Playa Vista/Playa del Rey has historically been an underserved beach market sitting in City of LA zoning. The ongoing development of retail and community amenities has created an opportunity to build larger, higher spec homes than previously.
Venice east of Lincoln Boulevard is very dense, with small lots and single-story homes, the gentrification in surrounding markets makes this submarket very attractive from a potential margin perspective.
Culver City, in the past ten years, has developed from a small studio town into a highly walkable community with significant job growth and amenities. Prices stabilized in the downturn and are now increasing rapidly.
Manhattan and Hermosa Beach, while already highly gentrified, attract an exclusive mix of buyers who are constantly looking for rebuilt/remodeled homes with architectural significance and originality. Having very strong connections to generate pipeline is key here.
Palos Verdes, usually known as a sleepy country suburb on the hill, has turned into a highly desirable place to live and raise children. The competitive market here will continue to center on bigger, more compelling lifestyle-focused homes.