REAL ESTATE NEWS (Los Angeles, CA)The July numbers are in, and they are telling. Last month, the Loft Blog reported that rents and home prices were still going up around Downtown L.A. Let’s take a look to see if that’s still happening in the July 2022 property market. Average price is way up!
2021: 48 listings; Average Days on Market 47; Median Days on Market 37; Median Price $525,000; Average Price $568,216
2022: 42 listings; Average Days on Market 50; Median Days on Market 25; Median Price $627,000; Average Price $939,245
Continuing the trend that we’ve seen for many months, fewer sellers are selling, fewer buyers are buying, and prices are up sharply. Stagflation continues. The major trend of inflation and economic stagnation are easy to see in Downtown LA.
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Reali, Inc, CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.