Westchester Real Estate
Westchester, a small district located on the westside of Los Angeles, is home to various amenities and various academic institutions, most notably Loyola Marymount University and The Otis College of Art and Design. Although Westchester started out as an agricultural area in the 20th century, the rapid development of the aerospace industry in the region, primarily during World War II, and the increase in demand for housing due to population growth, facilitated the neighborhood’s popularity and quick growth. In present day times, apartment complexes, beach bungalows, and modest, shingled single-stories fill the area, which is conveniently adjacent to LAX airport and flanked by other nearby neighborhoods that include El Segundo, Playa Vista, and Playa del Rey.
In the last two years, housing prices in Westchester have gone up 25 percent, largely due to the influx of technology companies in nearby vicinities, and in the third quarter of 2014, the median price for a single-family house hit $795,000. It has become more common for houses to sell for above $1.5 million, although the top of the area’s market sits at about $2 million. Higher sale prices are usually commanded by newer houses, and, therefore, many of the older one-story Westchester homes from the 1940’s and 1950’s are getting razed by investors and replaced by “fully updated two-story affairs” with open floor plans.
Westchester is a neighbourhood in the western part of Los Angeles County. It is located inside Los Angeles in the South Bay region of the county. It was primarily an agricultural land at the start of the 20th century but gradually got developed as a residential area. It was the establishment of Loyola University in the region and the expansion of the aerospace industry in addition to population boom in LA that led to Westchester being developed as a residential community. It was during 1960s that airliners were introduced in this area. The loud noise produced by take-off of jets lowered the desirability of homes in Westchester. Many homes on streets near LAX were demolished. The real estate market as well as population in Westchester received a boom in early part of 21st century with influx of tech companies in Westchester.
Westchester has a population of around 45000 people. Nearly half of this population is white while the rest is made up by blacks, Asians, and the Latinos. The area of this neighbourhood is 10.81 square miles with 3839 people living per square mile area. Median household income in Westchester ($135000) is 74% higher than rest of Los Angeles but the median home value is also 27% higher than Los Angeles. This is the reason why cost of living in Westchester is 11% higher than rest of Los Angeles.
INCREASING HOME PRICES
The housing market is considered stable with prices increasing gradually over the years. In fact, Westchester being adjacent to LAX is catching the attention of lots of home seekers as a great place to live in.Home prices have increased more than 25% in the last two years alone and median prices for a single family home in Westchester today stand at $795000. It seems noise from Los Angeles World Airport is no more an issue for the buyers.
EXCELLENT FACILITIES FOR EDUCATION
Apart from Loyola Marymount University, Westchester also has City College of Arts and Design. There is also West LA campus of Pepper University in this neighbourhood. For kids, there are many elementary and secondary schools in Westchester. Parents can also send their children to Wise burn District Schools if they so desire.
PLENTY OF OPPORTUNITIES FOR FUN
For recreation, Westchester has a Recreation Centre. This centre has not only an auditorium but also BBQ pits, basketball courts, baseball ground, football field, children’s play area, and a community room. There is also a swimming pool outside this Recreation Centre. Westchester has AMF El-Dorado bowling lanes and a golf course for fun and recreation of its residents.