Downtown L.A. Homes Sell For More Money, Faster Than One Year Ago
REAL ESTATE NEWS — Downtown Los Angeles continues to beat most real estate markets in both growth and stability. Compare recent prices, along with days on market, and we can see that prices continue to rise at a desirable pace, while homes sell at a brisk pace. Check out the market report:
In the most recent market (the last 6 months), Downtown L.A. homes sold at a median price of $619,500 with 42 days on market. #dtla #realestatenews
For the same 6 month period a year ago, the median price for Downtown LA (MLS areas 23,42) was $589,250. with 55 days on market.
This shows a value growth of $30,250 in 12 months with properties selling 13 days faster.
DTLA has also proven to be superior in down markets, slower to decline in price and faster to recover in price. While Downtown Los Angeles definitely has its ups and downs, it has proven to be safer than most neighborhoods as a financial investment.
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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.