REAL ESTATE NEWS (Los Angeles, CA) — November was a repeat of October. The real estate market has dropped significantly compared to the same month of the previous year, according to several data points. Fewer home owners are trying to sell. Even fewer prospects are trying to buy. Homes are taking more than twice as long to sell. Homes are selling for significantly less, and there are far fewer home sales being transacted.
2021: 34 listings; 18 Days on Market; $733,500 Median Price; $817,205 Average Price; $27,785,000 Total Volume
2022: 17 listings; 49 Days on Market; $650,000 Median Price; $756,040 Average Price; $12,853,000 Total Volume
These numbers are based on statistics from TheMLS for Downtown L.A. and surrounding loft neighborhoods of DTLA, Lincoln Heights, China Town etc.
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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.