REAL ESTATE NEWS (Los Angeles, CA) — November was a repeat of October. The real estate market has dropped significantly compared to the same month of the previous year, according to several data points. Fewer home owners are trying to sell. Even fewer prospects are trying to buy. Homes are taking more than twice as long to sell. Homes are selling for significantly less, and there are far fewer home sales being transacted.
2021: 34 listings; 18 Days on Market; $733,500 Median Price; $817,205 Average Price; $27,785,000 Total Volume
2022: 17 listings; 49 Days on Market; $650,000 Median Price; $756,040 Average Price; $12,853,000 Total Volume
These numbers are based on statistics from TheMLS for Downtown L.A. and surrounding loft neighborhoods of DTLA, Lincoln Heights, China Town etc.
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Of 437 local area listings in the last 3 month, only 149 have sold. That leaves 288 unsold properties. More and more of them will be taken off the market, as sellers decide to hold out and wait for higher prices in the future.
The reason: Stagflation. The economy is crashing worse than ever before, while prices are rising the fastest in 40 years. The Federal reserve raising interest rates is causing a lack of interest in major purchases, this is especially true or lofts near Skid Row. Skid Row and nearby neighborhoods have been all but abandoned by the local government. This is causing crime to remain out of control. Little Tokyo shopping promenades are suffering from attendance and fewer sales as homeless and criminals scare away and assault would-be shoppers. More Loft Blog readers are asking to see lofts and condos that are not in Downtown. That article will be posted in the coming days.
The solution: Leverage technology and people to find a match! ENTAR REAL ESTATE! — Home Buyers, Sellers, Renters, Landlords and Investors: Buy and Sell with us! We are ENTAR REAL ESTATE. We are the future. Get on your computer. And search for us. We are ENTAR REAL ESTATE. Are you looking to buy or sell? Do it today! The ENTAR way! Our Artificial Intelligence. Will find you a match with no delay! Love Your New Home or We’ll Buy It Back. IT’S AS EASY AS THAT! ENTAR REAL ESTATE! Twice as many lofts for lease in Los Angeles: Entar Top Level Tour. Live the way you want, with ENTAR. Live intelligently with ENTAR. Live a SMART LIFE with ENTAR REAL ESTATE.
REAL ESTATE AGENTS WILL MAKE $100,000 MORE THAN LAST YEAR GUARANTEED, OR WE’LL PAY THE DIFFERENCE. Agents should check out the high-level career with leads provided.
This above paragraph is a sneak peak at the new jingle for a planned potential upcoming incorporation and launch of the trillion dollar real estate company of the future, called Entar. Plan to see more and more mention of Entar on the Loft Blog because Entar shall possibly be formed into the parent company of the Loft Blog in the future. The good news is that Loft Blog readers can already take advantage of the new technology and new services today. The results is that DTLA lofts, condos and houses sell 44% faster, for 2% more money, and less hassle. Home buyers are guaranteed to save $25,000 when buying a loft, condo our house. Twice as many lofts for lease in Los Angeles with the Top Level Tour.
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