September Homes Sales Take 70% Longer, Sell for $35,000 Less
REAL ESTATE NEWS ALERT – SPECIAL BULLETIN
Los Angeles, CA — Thinking about selling a Downtown loft or condominium? Better allow more time to unload it — a LOT more time. The September year-over-year real estate market has shrunk significantly. Things are really slowing down. Homes are taking much longer to sell. The September median Days on Market is way up from the same month period in 2018. Last September, it took most homes 40 days to sell, but last month, it took a staggering 68 days to sell a home in the loft neighborhoods around DTLA to Lincoln Heights. The numbers from the MLS show that homes have been moving much slower in 2019 as compared to recent years. #realestate #market #news
The latest bubble seems to be deflating. Don’t expect too much money when selling over the next several years. Median price has dropped down substantially from $625,000 to $589,875. Sellers are getting 1% less of their asking price: On average, down from 96% Sep 2018 to 95% Sep 2019.
While falling prices may seem like bad news for sellers, those few who must buy a home over the next year or two are likely to find growing selection, more affordable prices and lower interest rates as the Fed shows unfettered willingness to accommodate.
Los Angeles is not alone. Real estate agents all over California have been reporting a cooling market for more than a year. Other areas with even more dramatic recent home price drops include New York City, Hong Kong and London. #dtla
Find out how much your neighbor’s loft sold for.
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How to Set Your Asking Price When Selling Your Los Angeles Condo
Downtown Los Angeles – When you decide to sell your home, setting your asking price is one of the most important decisions you will ever make. Depending on how a buyer is made aware of your home, price is often the first thing he or she sees, and many homes are discarded by prospective buyers as not being in the appropriate price range before they’re even given a chance of showing.
Your asking price is often your home’s “first impression”, and if you want to realize the most money you can for your home, it’s imperative that you make a good first impression.
This is not as easy as it sounds, and pricing strategy should not be taken lightly. Pricing too high can be as costly to a homeseller as pricing too low. Taking a look at what homes in your neighborhood have sold for is only a small part of the process, and on it’s own is not nearly enough to help you make the best decision. A recently study, which compiles 10 years of industry research, has resulted in a new special report entitled “Homesellers: How to Get the Price You Want( and Need)”. This report will help you understand pricing strategy from three different angles. When taken together, this information will help you price your home to not only sell, but sell for the price you want.
To hear a brief recorded message about how to order your FREE copy of this report call toll-free 1-800-791-4541 and enter 1016. You can call any time, 24 hours a day, 7 days a week.
Get your free special report NOW to learn how to price your home to your maximum financial advantage.
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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.
Downtown Los Angeles MLS areas 23,42 and 1375. Statistics PDF files are attached.
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