El Segundo’s home turnover rate half the national average
Shake Shack in El Segundo opened up to very long lines a couple of weeks ago. This auspicious start for the new Apollo Landing development is yet another example of the increasing diversification of the business base in El Segundo.There have been substantial investments made in development projects over the past few years that have solidly propelled the city into a new era that some businessmen and even professional writers are classifying as “trendy” and “cool.” Both The Point and the new Lakers executive offices with a world-class training facility were $80 million investments. Elevon, which is adjacent to the Lakers compound, came in closer to $100 million. Many investors and residents may be wondering what, if any, impact all of this growth might have on the residential real estate prices here. The housing market has been turbo-charged for a while now, with average annual appreciation rates of over 7 percent for the past six years. The 2016 Forbes annual study of the most expensive zip codes in the country places El Segundo in the top 1.6 percent of all zip codes nationwide. In El Segundo, what makes this growth particularly interesting is that median sales prices are not…
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