Brentwood Real Estate – A Market Study

Brentwood Real Estate – A Market Study

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Brentwood Real Estate Market Study

The Brentwood real estate market is interesting largely due to the diversity of its properties.  South Brentwood is home to a large number of condominium buildings and a young, vibrant population, bars, and restaurants, while the northern portion of Brentwood is home to massive, sprawling properties that can cost upward of $10 million and is home to numerous famous athletes and actors.  It’s prime location close to both the ocean and freeways makes it an extremely desirable area, and it will likely remain that way for the foreseeable future.

Overview of Brentwood Real Estate

Brentwood is located at the base of the Santa Monica Mountains, and is bordered by the 405 freeway on the east, Wilshire Boulevard on the south, Santa Monica on the southwest, Topanga State Park on the west, and Mulholland Drive on the north.  Notable current and former residents in the area include Tom Bardy, Dr. Dre, Jay Leno, Arnold Schwarzenegger, and more.

Brentwood’s population is approximately 33,000, according to LA Department of City Planning estimates in 2008, over a 15.22 square mile area.  According to the Los Angeles Times’ Mapping Los Angeles project, its population is primarily white, the median household income is high in relation to the rest of the city of Los Angeles, its residents are highly educated, and its average age of 39 is high for Los Angeles.  Public schools in the area are Kenter Canyon Elementary School (ranked 10/10 by Great Schools), Brentwood Science Magnet Elementary School (8/10), and Paul Revere Charter Middle School (8/10).  High School students can attend either University High School in West Los Angeles or Palisades Charter High School.  The area is also home to 7 private schools, many of which require an extremely competitive application process for admission.

The Brentwood real estate market has many sub-regions with varying characteristics.  Generally, the area can be neatly divided by the main arteries running west-east, i.e. Montana Ave., San Vicente Blvd., and Sunset Blvd.  The below map provides a breakdown of the various regions of the Brentwood real estate market.

South Brentwood (Purple)

The area of the Brentwood real estate market south of Montana is the most densely populated region of Brentwood, containing numerous condominium buildings.  In the past six months, 57 condominium units were sold in the area, compared to 12 single family homes during the same time period.  The region is also home to numerous bars and restaurants, making it the busiest area of Brentwood.

Brentwood Terrace and Country Club (Purple)

The area south of San Vicente and north of Montana is home to the Brentwood Country Club and Brentwood Terrace.  Homes in this conveniently located region typically start at $2 million, at best.  The area is not as dense as South Brentwood, but is still conveniently located close to shopping, restaurants, and the Brentwood Country Mart, making it an extremely desirable area and making homes for sale difficult to find in this region.

Brentwood Park and Westgate (Green)

The area north of San Vicente and Montana and south of Sunset is home to larger homes on large lots, while maintaining the flat landscape that eventually turns into a hilly region north of Sunset.  The area west of Kenter/Bundy is known as Brentwood Park, while the eastern area is known as Westgate.  While condominiums can be found east of Barrington, the remainder of the region is comprised of large, single family homes on large lots that start at approximately $2 million and can often exceed $10 million.

North Brentwood (Blue)

The area of Brentwood north of Sunset is a hilly region that almost exclusively contains single family homes.  Due partly to some smaller properties on smaller lots, the region is somewhat more affordable than other areas of the Brentwood real estate market, with single family homes starting at approximately $1.5 million.  The region is home to Brentwood Circle (a gated community east of Barrington and north of Sunset), Brentwood Glen (east of the 405, north of Sunset, and west of the Veterans Administration), Brentwood Hills, Mandeville Canyon, Moutaingate, the Getty art museum, and more.

Brentwood Real Estate Trends

The growth in the Brentwood real estate market over the past three years, while somewhat more sporadic than Los Angeles County, has closely tracked LA County’s growth, with the median residential sale price in Brentwood increasing 57.3% compared to LA County’s 63.22%.  Of course, the cost of entry into Brentwood is much higher than the rest of LA County, with the lowest median residential sale price in the past three years being $1.1 million, compared to LA County’s $428,000.00.

Brentwood Real Estate Esquire Real Estate Brokerage Chart

It is reasonable to expect that trends in Brentwood’s real estate market will continue to mirror LA County as a whole, given that there are no particularly notable developments in the area.  Recent construction along the 405 as well as on Wilshire Boulevard just east of the 405 have contributed somewhat to a reduction in traffic, but on the whole the problem of traffic congestion into and out of Brentwood remains an issue, thus it is unlikely that those projects will have a significant impact on the Brentwood real estate market.

If you would like to further discuss how Esquire Real Estate Brokerage, Inc. can help you in the Los Angeles and Brentwood real estate markets, feel free to give us a call at 213-973-9439 or send us an email at info@esquirereb.com

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