Real Estate Market Crash Trends Los Angeles California

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Real estate market report for November 2019 – Crash trend in L.A.

REAL ESTATE NEWS

November numbers show a sustained down trend for lofts and condos in and around the Downtown Los Angeles area, including loft neighborhood Lincoln Heights. The number of listings fell slightly, properties took longer to sell, average and median prices dropped and the entire real estate market dollar volume plunged. Here are this year’s November numbers compared to the same month in 2018.

Buyers and sellers are both staying put longer, as the number of listings fell by 2.4%.

Homes are taking longer to sell, 18 days slower on average. While it only took 36 days last year, most home sellers found that their condos took 50 days to sell in November of 2019. Today’s home sellers must usually anticipate taking a couple weeks longer to sell their loft. | VIDEO

Fewer dollars are trading hands. The area saw about $4 million less in total real estate volume in November compared to the same period last 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 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.

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