Urban L.A. home prices continue to skyrocket under runaway inflation. DTLA home buyers and sellers continue to agree on rapidly rising property values as the U.S. dollar continues to lose its global hegemony. The average property sold price increased from $609,770 last May to a whopping $744,000 for the same period in 2022, according to real estate professional Multiple Listing Service statistics for Downtown and nearby loft neighborhoods in MLS areas 23, 42 and 1375. Slightly fewer transactions, with significant higher monetary level, evidences stagflation, economic stagnation combined with price inflation.
2021 61 Listings 55 avg / 36 med Days on Market Price $527,500 med / $609,770 avg Vol $37 million
2022 59 Listings 59 avg / 28 med Days on Market Price $623,000 med / $744,760 avg Vol $44 million
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 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.
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