Culver City Homes Cost 110 Percent More Than Median

CULVER CITY, CA — As any good real estate agent knows, location is king. A study released this week by Realtor.com shows that homes in Culver City are more than twice the county median, partly of because of a good school district.

The study shows that that on average, homes in good districts are nearly 50 percent more expensive.

The study looked at homes in school districts rated nine or 10 on a 10-point scale at GreatSchools.org compared to homes in districts rated six or less. The analysis shows homes within the boundaries of the higher rated public school districts are, on average, 49 percent more expensive — at $400,000 — than the national median of $269,000.

"It's common knowledge that buyers are often willing to pay a premium for a home in a strong school district," Realtor.com research manager Javier Vivas said. "Our analysis quantifies just how good it is to be a seller in these areas."

In Los Angeles County, prices for homes in Culver City, whose school district ranked eight, are 110 percent higher than the county median.

Homes in good school districts don't just cost more, on average, they also sell faster too, according to the study. Houses located in these areas sell eight days faster than homes in below average school districts, four days faster — at 58 days — than the national average.

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