Los Angeles home prices have seen strong gains over the past several years. Downtown prices of course outperformed the rest of Los Angeles County, as well as Orange County and across the entire U.S.
National figures are not as impressive recently. Sales of previously owned homes dropped nationwide. The National Association of Realtors reported that pending sales also fell last month.
But Downtown Los Angeles is happier news because local homeowners gained an average $48,711 in home value since last year. The naysayers who said a year ago that Downtown prices were “too high” and that they were a bubble about to burst have again been proven wrong. Downtown has yet again out-performed the surrounding area and the entire nation, with home prices rising significantly over the 12 months of the previous year.
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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 Not associated with the homeowner’s association, seller 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.
Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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