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It’s no secret: L.A.’s historically hot real estate market is brutal for buyers. The pandemic-fueled housing boom saw L.A. County’s median home price rise to $750,000 in April, a 19% increase year over year.
Bidding wars and a shortage of sellers are making good deals hard to come by, but there are still plenty of great options if you look in the right neighborhoods. Here’s a look at what roughly $700,000 buys right now in seven L.A. communities.
City Terrace
Tucked just south of the 10 Freeway, City Terrace is a small, hilly community with winding streets and a healthy supply of Spanish Colonial Revival-style homes. Empty lots sell for between $100,000 and $200,000, while the few houses on the market are priced between $500,000 and $800,000.
Matt Damon is switching coasts. A few years after shelling out $16.7 million for a New York penthouse, the Oscar-winning actor just listed his Pacific Palisades retreat for $21 million.
The “Ford v Ferrari” star has owned the home for nearly a decade. Records show he paid $15 million for the half-acre estate in 2012 and spruced up the place during his stay.
Designed by Los Angeles architect Grant Kirkpatrick, the architectural residence covers more than 13,500 square feet and reflects the coastal setting with a lively mix of warm wood, natural stone and Asahi glass.
The atrium serves as the centerpiece, a voluminous, light-filled space set under a 35-foot mahogany vaulted ceiling. There’s also a living room with a fireplace, an indoor-outdoor dining room and a center-island kitchen done in mahogany and bluestone.
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