Downtown L.A. is not the only place where home prices are falling. Check out this urban / suburban neighborhood around Ventura Boulevard.
This small 1 mile section of the Sherman Oaks neighborhood saw 8 listings sold in the same quarter a year ago. 15 / 11 days on market $596,000 / $609,000 which was $545 / $541 per sq ft.
The middle class is having difficulties getting loans, so the 1,110 sq ft and economy units with no view have recently not been selling as well at the 1,600 sq ft and luxury units with views.
This quarter, the numbers are: 6 listings sold. 58 / 44 days on market that were 58 / 44 days on market, and sold for $863,000 / $813,000 which is $505 / $492 per sq ft.
Based on comps and falling price market, suggested asking price for 1,284 sq ft is $599,000 to $629,000.
Find out how much the home down the street sold for. Get a free list of recently sold homes in any area, along with a list of homes currently for sale. Fill out the online form:
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.