REAL ESTATE MARKET UPDATE #REALESTATE #NEWS
Downtown Los Angeles — Area 2nd quarter median recently sold home prices are down since the same period last year. The L.A. Loft Blog looked at MLS areas 23,42 and 1375, which include the loft condo neighborhoods in and around Downtown LA. The median price (April through June) last year was $630,000. This year it’s down to $610,000 for a drop of 3.28%. #dtla
The good news is that the average price is actually up from $704,595 last year to $761,853. The dollar volume shows a healthy local real estate economy, but most individuals are losers: The median price drop shows that most home sellers are getting less money in 2019 while only a lucky few are doing better. Most real estate agents are bearing the brunt of the cooling market as the number of transactions dropped from 132 to 99 as fewer Downtowners are buying or selling. Currently secure in their jobs, most downtowners are staying put.
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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.