Category: home prices

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REAL ESTATE SLIDE – Downtown Los Angeles Median Home Prices Down

Financial District amusement slide a metaphor for a dropping real estate market
Financial slide – a dropping real estate market

REAL ESTATE MARKET UPDATE  #REALESTATE #NEWS

Downtown Los Angeles  —  Area 2nd quarter median recently sold home prices are down since the same period last year.  The L.A. Loft Blog looked at MLS areas 23,42 and 1375, which include the loft condo neighborhoods in and around Downtown LA.  The median price (April through June) last year was $630,000.  This year it’s down to $610,000 for a drop of 3.28%.  #dtla

2nd Quarter 2018 Median DTLA home price $630,000
2nd Quarter 2018 Median DTLA home price $630,000
2nd Quarter 2019 Median DTLA home price $610,000
2nd Quarter 2019 Median DTLA home price $610,000

The good news is that the average price is actually up from $704,595 last year to $761,853. The dollar volume shows a healthy local real estate economy, but most individuals are losers: The median price drop shows that most home sellers are getting less money in 2019 while only a lucky few are doing better. Most real estate agents are bearing the brunt of the cooling market as the number of transactions dropped from 132 to 99 as fewer Downtowners are buying or selling. Currently secure in their jobs, most downtowners are staying put.

FIND OUT WHAT YOUR NEIGHBOR’S LOFT SOLD FOR

Get a free list of Downtown area loft and condo sales. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Downtown Los Angeles real estate market slides down

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.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.

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Downtown Los Angeles Loft Sales Slow – Median Home Price Down

REAL ESTATE NEWS  — The Los Angeles real estate market continues to cool, including urban condos.

As the L.A. Loft Blog warned two years ago, property prices do not always go up reliably. Home values dive periodically.  As the number of people moving has dropped precipitously, Downtown L.A. is officially in a buyer’s market.  #realestate #market #homeprices #dtla

Most Downtown LA homes have come down in price recently compared to the same period in 2018.  The local real estate market has contracted — what was hot a few years ago is now lukewarm. Let’s take a look at the actual numbers for Downtown Los Angeles, Metropolitan Area and Lincoln Heights.  In the first half of last year, 247 properties sold, while only 189 have transacted successfully in the same period of 2019.  That’s more than a 30% drop in the number of transactions.  The median price has declined from $615,000 to $605,000 (a price drop of 1.65%).

Those who are thinking about making a move want to put more thought and strategy into making the most of L.A.’s shrinking real estate market.

Find out what the home down the street sold for

Find out what your neighbor’s loft sold for.

Get a free list of area home sales with photos, descriptions and actual competed sale prices for the best determination of property values. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

Lofts For Sale                Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE UNDER $500,000  |  $900,000  |   Top Luxury
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

loft-windows-view

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.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.