Just the right size, just the right temperature?
REAL ESTATE MARKET NEWS (Downtown Los Angeles) — The August market report is in. Is the Downtown L.A. economy just right, or is it the calm before the storm? Let’s take a look at the August 2017/2018 numbers to create a clear picture. #dtla #realestate #news
DTLA home owners and sellers are happy. The price of Downtown real estate is higher in August of 2018 than it was during the same period a year ago. The average Downtown home price increased from $761,000 to $782,000. The average condo is selling faster than a year ago as well. What took 67 days to sell last year took 64 days this year.
Prices are up a perfect 2.7%. The average selling price to average listing price ratio has dropped from 94% to 93%, which is just enough bad news to take the temperature from too hot to just right. Better yet, the only other negative news is a smaller overall market with new listings dropping from 44 to 38, which can be good news for the few who want to sell.
Take a look at the Metro Downtown Market Analysis reports:
August 2017
https://www.themls.com/Share/YWFhYWpnZ2pj
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