A lot of people tend to think of Hollywood as its own city, probably because of its international fame. The fact is that Hollywood is a district within the larger city of Los Angeles, without its own representative municipal body. While it contains a very large population, this means that Hollywood itself has less real representation than Port Perry real estate might.

Hollywood residents have tried to gain independence on several occasions, but the motions have been defeated. It makes sense for Hollywood to be apart from the rest of Los Angeles, if for no other reason than the prices of real estate there throw the whole city out of whack. For the most part, you could buy a horse farm in London Ontario for less than you would need to pay for a four bedroom home in Hollywood!

Just take a look at the average listings for the town. The average listing in the Hollywood area is $888,000. This is down significantly from just a year ago, as the housing market recession continues to effect luxury real estate, Toronto to Tijuana. Still, most houses in Hollywood will be beyond the reach of the average person.

A single bedroom home in Hollywood currently costs $444,000 on average. The price tends to climb disproportionately after that, depending on how many rooms one wants. Many of these houses are of older stock, built during the Golden Age of the district, when it was the place to be for stars of all stripes.

As any Bosley real estate expert will tell you, today's Hollywood is not the same as it was 30 years ago. Much of the entertainment production that went on in the district has since moved, taking the stars and their real estate with them.

Still, there are plenty of high end employment opportunities in Hollywood, and the rich and famous of the world still drop by in large numbers. This has led to the redevelopment of much of the downtown area.

That redevelopment has seen the very literal rise of the condominium and loft complex in the historic areas of Hollywood's downtown. These condos are what tend to drive up the price of a mortgage. Toronto Canada residents know all about the condo conundrum which is being experienced in Hollywood today. Those who stay in the town for a week or so a month, perhaps even less, purchase modern condos to stay while they are in on business. They can afford to pay high prices, which in turn drive up the prices of other homes on the market.

The tricky thing about Hollywood real estate, aside from the condo situation, is that not a lot of houses go on the market each year. Only about 50 houses turn over in this district, perhaps the lowest listing average for anywhere in the state.