Category: Home value

Posted on

Downtown Los Angeles Real Estate Market Falls Again

REAL ESTATE NEWS

Urban home prices continue to drop. January 2020 numbers are in, and Downtown L.A. real estate prices have continued to drop again from last year’s already fallen numbers. This decline of 4.3% confirms earlier projections, and portends another down year, an omen of two falling years in a row for Downtown LA real estate. #realestate #losangeles #market

January number of transactions increased slightly to 32, up 2 from last year as a small number of DTLA home owners realize that they want to exit at relatively high prices, potentially to get out before it’s too late. Average days on market increased from 75 last January to 79 this January, so sellers can expect lofts, condos and houses to take about 4 days longer to sell than last year. Median price dropped from $605,000 last Jan to $580,000 this Jan, for a $15,000 loss. The average total also dropped significantly, reinforcing the certainty of declining home prices. Average price per square foot dropped from $703.96 to $621.45. More homes are taking a very long time to sell, as 57% more properties took longer than 90 days to sell, according to data MLS for L.A. areas 23, 42 and 1375. #homeprices #dtla #homeworth | VIDEO

The down figures for January lead the L.A. Loft Blog to re-affirm its projection of another down year for Downtown Los Angeles real estate with an average expected decline of around $23,000 per loft in 2020.

Find out what your neighbor’s loft sold for.

Get a free list of recently sold nearby properties. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking
VIDEO

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. | VIDEO

Posted on

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.