Westside Home Prices Rising?

Redfin report shows 11.1 percent increase in median home prices

By Dolores Quintana

Are Westside home prices rising? 

On the Westside of Los Angeles, Redfin.com has reported that the median price for homes in the area is $2.1 million and went up about 11.1 percent in comparison to the previous year. A grand total of 895 homes sold, an increase from the previous year’s total of 749. 

During the pandemic, most office and other white collar workers have switched to remote work from home out of necessity, which has allowed many more people to buy houses that are outside of the traditional areas that make commutes less burdensome. This fact combined with low mortgage rates drove a buying frenzy throughout the United States. According to Redfin.com, the peak of the bidding war rate was in April of 2021, when that rate reached a high of 74.6 percent. Redfin’s standard of a bidding war for a home is if their agent receives one other competitive bid for a home after the first bid is placed. As the year wound down and the holidays arrived, the bidding war rate dropped to a low of 59.6 percent in December as mortgage rates started to rise. 

Even so, the lack of available homes for sale keeps the market extremely competitive. Candace Evans, a Redfin team manager in New York, as quoted by Redfin.com,  “Buyers should anticipate that they may not win a house until their sixth or seventh bid. If you’re the type of person who falls in love with a house, this is not your market. If you show a house to 10 buyers, you’ll probably get eight offers. An agent on my team just put a home in the Bronx on the market and started receiving offers even though there hadn’t been a single open house or tour yet. The house ultimately received over 10 offers and went for well above the asking price.”

In comparison, the bidding war rate in December of 2020 was 54 percent so while December of 2021 had the lowest bidding war rate of the year, it was still more than the year before. The rate in November was 61.3 percent which is only a difference of 1.7 percent.

Related Posts

Santa Monica Council Votes in Support of Park-Centric Future at Airport Site

July 9, 2025

July 9, 2025

The decision followed a contentious meeting with over 140 public speakers and more than 1,000 emails received by the council...

‘Adoptapalooza’ Pet Adoption Festival Returns to Main Street This Weekend

July 9, 2025

July 9, 2025

The free, family-friendly event aims to connect adoptable animals with new owners Green Dog Dental & Veterinary Center will host...

New Agenda Coaching: Changing Lives in LA

July 8, 2025

July 8, 2025

Students Work Toward Applied Success with Executive Function Coaching Services The demands of daily routines and studies sometimes bear weight...

New Playground, Library Services, Tennis Courts and More Coming to Palisades Rec Center 

July 8, 2025

July 8, 2025

Significant improvements are in progress at the Pacific Palisades Recreation Center, with multiple projects advancing Significant improvements are in progress...

Virtual Town Hall to Discuss Proposed Resilient Rebuilding Authority

July 8, 2025

July 8, 2025

The agency, to be run by political appointees, would manage permitting, development, zoning, and funding, modeled after post-disaster recoveries Los...

Big Blue Bus to Raise Fares for First Time in Nearly a Decade

July 8, 2025

July 8, 2025

The fare increase aims to offset rising costs for fuel, utilities, and supplies, according to the agency. The Santa Monica...

Shore Hotel: A Local Destination for Summer Fun

July 8, 2025

July 8, 2025

Bring on all things summer. Walking or biking along Santa Monica Pier, you might find yourself taking a pause at...

Soprano Golda Zahra Returns to BroadStage For a One-Night-Only Musical Celebration

July 7, 2025

July 7, 2025

Hailed as “the rising star of the opera world” by The Hollywood Times, internationally acclaimed soprano Golda Zahra makes her much-anticipated return to BroadStage in...

Committee Granted Authority to Oversee Grants and Donations for Palisades Council

July 7, 2025

July 7, 2025

The Grants Committee is tasked with developing application processes and eligibility standards for PPCC grants and donations The Pacific Palisades...

Anti-Drunk Driving Resolution Introduced as City Council Honors Late Palisades Teen Killed in Crash

July 7, 2025

July 7, 2025

Levi, who was set to attend the University of Virginia this fall, was killed by a drunk driver on May...

(Video) Hundreds of Drones Light up the Sky for Palisades to Celebrate July 4th

July 7, 2025

July 7, 2025

The Event Marked One of the First Large Gatherings Among Palisadians Since the January Wildfires. The Event Marked One of...

Transform Your Life: The Free Virtual ONENESS GLOBAL SUMMIT Debuts July 18-20, 2025

July 7, 2025

July 7, 2025

The ONENESS GLOBAL SUMMIT, a transformative three-day virtual event, is coming, July 18-20, 2025, offering participants worldwide a free opportunity...

New SaMo Bridge Program Refers 56 People in First Month; 37 Connected to Services

July 7, 2025

July 7, 2025

According to city officials, the program is on pace to meet its goal of serving 260 individuals annually Santa Monica’s...

Multi-Family Venice Property on Rare Double Lot Lists at Over $5M

July 7, 2025

July 7, 2025

In total, the four units provide 5,398 square feet of living space A multi-family property located one block from Venice...

Vacant Alphabet Streets Lot Lists for $1.99M After Price Cuts

July 7, 2025

July 7, 2025

The site previously held a 6,001-square-foot residence built in 2018, which included a basement, possibly streamlining the permitting process for...