Located between the exclusive cities of Malibu and Hidden Hills just outside of Los Angeles is the city of Calabasas. As the median value of owner-occupied housing units is above California's average of $458,500 but close to the median of other real estate in Los Angeles County, the median value of housing units in Calabasas between 2006 and 2010 was $962,700.
As the city is home to many celebrities, including the Kardashian family, the median value is likely boosted by the median household income of $116,403. The higher incomes also likely contributed to the 73.6 percent of housing being owner-occupied while renters occupied 26.4 percent.
The 2010 U.S. Census reports the city had a population of 23,058, which increased 15.1 percent between 2000 and 2010, while California's overall population went up 10 percent. The data listed the median age of residents as around 42 years of age, and 25.3 percent of the population was under the age of 18 while 12.6 percent were 65 years of age or older.
Homes for sale in Los Angeles could continue to see multiple offers, as mortgage rates have remained near all-time lows despite rising in two consecutive weeks.