Month: November 2022

REAL ESTATE NEWS (Los Angeles, CA) — The latest number are in. Did loft prices go up or down last month? In the midst of stagflation, the local real estate numbers are dropping. It’s a full on real estate crash in Downtown Los Angeles. Here’s the scoop:

47 listings in October 2021. Down to only 21 listings in Oct 2022.

43 average Days On Market October 2021. 63 DOM in Oct 2022.

21 median DOM Oct 2021. 53 median DOM in Oct 2022.

Median price $560,000. Down from $589,000 last October.

Average price was $677,104 in Oct 2021. Average price $662,600 in Oct 2022.

The total market size has dropped to less than half of last year, as most potential sellers decide not to sell. Properties take more than 50% longer to sell.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker 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. | PDF: Market October 2021 | Market October 2022