Miracle Mile, CA Real Estate
View current listings for real estate in Miracle Mile, or read more about the city.
Listings Updated Daily.
Miracle Mile Homes for Sale
Real Estate Statistics
| Average Price | $2.4M |
|---|---|
| Lowest Price | $729K |
| Highest Price | $7.5M |
| Total Listings | 12 |
| Avg. Days On Market | 56 |
| Avg. Price/SQFT | $565 |
Property Types (active listings)
The Miracle Mile, part of Mid-Wilshire in central Los Angeles, was one of the first purpose-built automobile-centered shopping districts in the United States. Developed in the 1920s, when cars were just beginning to become popular and widespread, developer A.W. Ross envisioned a linear shopping district that revolved around ample parking, large thoroughfares, and shops that had wide storefronts and large signs that could easily be seen by drivers traveling at 30 mph or slower. Emphasizing the new architectural trends of Art Deco and Streamline Moderne in the construction of the many shops and businesses, the Miracle Mile proved to be an overwhelming success, as indicated by its name. It continues to be an almost exclusively commercial neighborhood with an emphasis on large shops with enormous storefront display windows. There are also a number of commercial high rises in the area, which are home to a large number of local offices for local and international corporations.
The central location and massive shops have contributed to the area becoming one of the most in-demand places to live in the United States. As such, it has become the most congested affluent district in Los Angeles, with large storefronts serving as the ground floor to large condominium developments. Most residential structures are multi-family dwellings and all are upscale, serving as home to much of Los Angeles's working elite. There are a few single-family homes in the area, and while luxurious, they are notably smaller than those located further out of central Los Angeles. Their location, excellent construction, and upscale amenities make them exceedingly in demand, and Miracle Mile real estate agents have no trouble selling them.
Transportation is almost exclusively by car. Though the parking and thoroughfares were more than ample when initially constructed, the region has since become highly congested, with parking becoming difficult and traffic becoming slow. As such, there are plans to extend the subway into the area, although this is expected to take many years and has been hampered by subterranean methane deposits. There are currently no plans to expand sidewalks or bus services in the area, as this would hinder the already cramped traffic situation.
The Miracle Mile is served by the Los Angeles unified school district. The affluence of the neighborhood has led to an emphasis on education and the arts, and most notably museums. The neighborhood's "Museum Row" is home to the L.A. County Museum of Art, the Petersen Automotive Museum, the A+D Museum: Los Angeles, and the museum for the nearby La Brea Tar Pits, among others. The region is also home to the city's largest collection of art deco buildings, produced early in the neighborhood's history, and the city register of historical places has worked to preserve such buildings.
For more information about Miracle Mile Real Estate, please contact our office at 323 412-9060.