Category: downtown LA

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Happy 4th of July – Celebrating Independence, Freedom and Home

Amidst the vibrant festivities and fireworks illuminating our summer skies in honor of Independence Day. As we join hands to celebrate the birth of our nation, I wanted to take a moment to express my deepest gratitude for your continued trust and partnership.

In the spirit of this significant day, it’s important to recognize that our homes embody a significant part of our independence and freedom. The right to secure a place we can call our ‘home’ forms the bedrock of the American Dream, a principle we hold dear. In this vein, I wish to acknowledge how privileged I feel to have been entrusted with the responsibility of helping you shape your dreams and hopes into reality.

Over the past year, we’ve navigated together through the various ups and downs of the real estate market, finding spaces that speak to your unique tastes, aspirations, and lifestyles. Whether we were navigating the exhilarating journey of securing your first home or investing in properties to build your wealth, your faith in my expertise and commitment is something I value immensely.

As we watch the fireworks bloom this 4th of July, let’s celebrate the independence and freedom we enjoy, reflected in the warmth and comfort of our homes. Let’s also remember the courage and perseverance that have shaped our nation, reflecting on how these qualities resonate within our personal journeys. Like those who fought for our freedom, we have demonstrated tenacity, resilience, and faith in the face of challenges, emerging stronger with each step of our real estate journey.

Your home is more than just a property; it’s the stage where your life unfolds, fostering growth, joy, and cherished memories. It is a tangible manifestation of your freedom and independence, an affirmation of your unique identity. I am genuinely grateful and humbled to play a role in this important chapter of your life.

As we look forward to the second half of 2023, I’m excited about the possibilities and opportunities that lie ahead. Please remember, whether you are thinking about your next move or just need some real estate advice, I am here to support and guide you.

May the spirit of Independence Day infuse your home with joy, prosperity, and peace. Enjoy the fireworks, the barbecues, the warmth of your loved ones, and, most importantly, the comfort of your home on this special day.

Happy Fourth of July!

With sincere gratitude,

Corey Chambers, Broker
213-880-9910 Mobile

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 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. Text and photos created or modified by artificial intelligence. 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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The Downtown Los Angeles Real Estate Market Analysis: June 2023 vs June 2022

REAL ESTATE NEWS (Los Angeles) — Downtown L.A. (DTLA) and its surrounding areas have continued to serve as vibrant hubs for the city’s real estate market. In this blog post, we take a closer look at the dynamics of loft sales in Downtown LA and nearby loft neighborhoods for the month of June 2023 compared to the same period last year, based on MLS data for areas 23, 42, and 1375. Home prices are down and market activity is down.

Volume of Sales

Starting off with the total number of lofts sold, the June 2023 data shows a decrease in sales volume compared to June 2022. This past month, the DTLA loft market saw 34 sales, down from the 64 sales recorded in the same month last year. While such shifts can be influenced by multiple factors, this decline suggests a tightening of the market.

Sales Price (SP) and List Price (LP)

When considering the selling prices, we can observe an interesting trend. In June 2023, the lowest recorded sale price was $280,000, with the highest reaching $1,700,000. The average selling price (SP) was recorded as $688,103. In comparison, June 2022 showed a larger price range with the lowest sale price at $250,000, and the highest soaring up to $3,200,000. Interestingly, the average SP last year was significantly higher at $779,021.

On the other hand, when we look at the List Price (LP), in June 2023 the range was between $285,000 and $1,890,000, with an average LP of $715,485. This contrasts with June 2022 when the LP ranged from $229,000 to $3,375,000, with an average LP of $783,066.

Square Footage and Price Per Square Foot

Focusing on the average price per square foot, June 2023 recorded an average price of $669.30/sq ft., slightly lower than the $739.27/sq ft. of June 2022. The average square footage remained roughly the same, with 1,025 sq ft. in June 2023 compared to 1,055 sq ft. the previous year.

DOM and Average % of List Price Received on Solds Statistics

It’s also noteworthy to look at the Days on Market (DOM) and the average % of List Price received on sold properties. The majority of properties sold in June 2023 were on the market for 0-30 days (50%) and fetched 97.17% of their listing price. Meanwhile, in June 2022, a whopping 71.88% of properties sold within 0-30 days, garnering 100.45% of their listing price, indicating a hotter market in 2022 compared to 2023.

Total Sales Volume

Lastly, it’s worth mentioning the total sales volume. In June 2023, this figure was approximately $23,395,512, down from a much higher volume of $49,857,388 recorded in June 2022. This decrease correlates with the reduction in the number of lofts sold, indicating less market activity this year.

In conclusion, the Downtown Los Angeles loft market in June 2023 showed signs of slowing down compared to the same period last year. The decrease in sales, lower selling prices, and a reduced percentage of the list price received all suggest a cooling of the market. The real estate market in the area has been down for more than 6 months. Whether this shift continues or the market rebounds will undoubtedly be something to keep an eye on in the upcoming months.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 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. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.