Culver City Property Values Back at Peak Levels?

Using a property at 4348 Globe Ave. as an example, Dr. Housing Bubble, argues that housing prices are almost to peak, 2005 levels in Culver City. The property sold for $600,000 in January of 2005. It sold for $420,500 in April of 2012 (!!), but after some remodeling, it sold for $593,000 on November 11, 2012. Here's the whole price history:

I'm willing to bet that there are also examples that contradict Dr. Housing Bubble's assertion (and I realize that Globe Ave. properties are a bit funky -- pushed up against the 405 as they are).

Anyone like to share their evidence to the contrary?

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Tags: PropertyValues


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Comment by Les Goldberg on December 11, 2012 at 11:29am

My folks bought their home at 3851 Globe Ave. in 1947 for $11,500.   They sold it in 1979 for $99,000.   Not bad!

I was fortunate to grow up in CC where Johnnie's, The Rollerdrome, Keener's Ice Cream parlor and Culver Center were within walking or bike-riding distance.   

Comment by Scupine on December 3, 2012 at 4:13pm

I agree Evlynne. Thanks for the comment.

Comment by Evlynne Braithwaite Householder on December 1, 2012 at 6:37pm

This is good news for Culver City.  You point out correctly this property is near the freeway.

 The realtor who represented us in purchasing our Culver City home 14 years ago came by with the annual Holiday Banana Bread.  Yes, we have gotten it for every year since our first Christmas in our Clarkdale area home in 1998! 

I inquired how the market was looking,he told me "that there is not enough inventory for an area like Culver City with all the parks and good schools and that it has to offer." 

We are so fortunate to live in such a lovely community such as Culver City.

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