With a nearly $2 billion NFL stadium, which will include a mixed-use shopping and entertainment development, scheduled to open in 2018 it is safe to say Inglewood can be next up for gentrification.
Inglewood, a traditionally African-American city, is the last frontier of Westside affordability: If you go any farther south you're in the South Bay; if you go any farther east you're in South L.A.
While none of the nation's newest stadiums, those built in the last 10 years, "has had a noticeable impact in raising home values in its immediate vicinity," the long-term outlook is better. Buy-and-hold real estate hunters could find wise values in the 'Wood.
The median home price in Inglewood is $389,100, according to real estate site Zillow. It pegs the Greater Los Angeles median at $562,800. The site projected that Inglewood home values would increase by 1 percent in the next year.
A spokesman for real estate website Redfin says "homes are selling much faster in Inglewood" than in Greater Los Angeles in recent months. "More homes in Inglewood are selling for above the list price when compared to L.A.," he said.
Article from LA weekly
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