Category: Home value

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Downtown Los Angeles Real Estate Market Update July 2020, Home Prices Dropping in California

Home values dive in DTLA as homeless tent encampments grow and many businesses flounder #dtla

REAL ESTATE NEWS

In July of 2020, the median sold price was $565,000. Compare that to July 2019 median sold price of $588,000. The price dropped by $23,000. This year, sellers were in more of a rush to sell. Downtown L.A. area urban lofts and condos sold in 57 days in July of 2019, but sold in just 9 days as sellers were in more of a rush to unload properties this July (median DOM days on market, MLS areas 23, 42 and 1375). #home #prices

CIVIL UNREST IN THE CITY

KTLA Channel 5 television news shows demonstrations continuing in Downtown L.A., with many renters saying they are behind in rents, and demanding cancellation of rents due. Commercial investors report significant losses caused by shrinking retail, but most residential landlords say that their tenants are still paying rent largely on time in.

Find out what your neighbor’s loft sold for. Get a free list of recently sold condos in the area. Fill out my online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Large industrial style lofts for lease in Downtown Los Angeles with concrete column pillars

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. #realestate #market

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Downtown Los Angeles Real Estate Market Falls Again

REAL ESTATE NEWS

Urban home prices continue to drop. January 2020 numbers are in, and Downtown L.A. real estate prices have continued to drop again from last year’s already fallen numbers. This decline of 4.3% confirms earlier projections, and portends another down year, an omen of two falling years in a row for Downtown LA real estate. #realestate #losangeles #market

January number of transactions increased slightly to 32, up 2 from last year as a small number of DTLA home owners realize that they want to exit at relatively high prices, potentially to get out before it’s too late. Average days on market increased from 75 last January to 79 this January, so sellers can expect lofts, condos and houses to take about 4 days longer to sell than last year. Median price dropped from $605,000 last Jan to $580,000 this Jan, for a $15,000 loss. The average total also dropped significantly, reinforcing the certainty of declining home prices. Average price per square foot dropped from $703.96 to $621.45. More homes are taking a very long time to sell, as 57% more properties took longer than 90 days to sell, according to data MLS for L.A. areas 23, 42 and 1375. #homeprices #dtla #homeworth | VIDEO

The down figures for January lead the L.A. Loft Blog to re-affirm its projection of another down year for Downtown Los Angeles real estate with an average expected decline of around $23,000 per loft in 2020.

Find out what your neighbor’s loft sold for.

Get a free list of recently sold nearby properties. Fill out the online form:

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
VIDEO

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. | VIDEO