REAL ESTATE NEWS | Blog Video
The August 2020 home price data is in, and the property market report has been prepared. Residential property values fell by a hefty hunk. Compare this year to last:
August 2019 Median Sold Price $647,000
August 2020 Median Sold Price $539,000
That’s a major drop of $92,000 from Aug ’19 to Aug ’20. Homes sold much faster as home sellers became more motivated in 2020. Last year, sellers took their sweet time, selling in around 68 days. This year, sellers unloaded their properties in a median time of only 31 days. These statistics pertain to Downtown Los Angeles and nearby loft neighborhoods MLS areas 23, 42 and 1375.
Urban LA rental prices have dropped just a bit.
How much is your home worth? Find out how much the loft down the street sold for. Fill out the online form:
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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.