Category: home values

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Downtown Los Angeles Lofts For Sale Cheap

DTLA Condo Prices Drop Back into $100,000s  #dtla #realestate #prices

CAUTION: FALLING PRICES

As a slowing global economy appears, Italy’s economy has officially slipped into recession.  While the Fed says that the U.S. economy is in a good place, December delivered a dismal dropkick to the American stock market, while Downtown Los Angeles property transaction volume dwindled.  Lackluster loft sales in January of 2019 have certainly NOT renewed our faith in DTLA #homevalues.

REAL ESTATE NEWS

The good news: This has planted a glimmer of hope in the eye of those who must make a move to Downtown this year as buyers gain the upper hand.  In fact, one happy new urbanite just snapped up a valuable Financial District property for only $199,000. Eight other buyers have also recently purchased Downtown condos for less than $300,000!  Prospective urbanites can receive affordable loft listings at no cost, and thereby get access to unlisted homes as well.

Find out what the home down the street sold for

Get a free list of affordable Downtown L.A. condos.  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

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.

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Real Estate Market Drops 6.7%

Downtown Los Angeles  —  Properties have hit a plateau as the average price has dropped a bit in the last six months compared to the same period last year. Fewer buyers and sellers are motivated to transact at today’s home prices. L.A.’s urban real estate market stagnates while more people hunker down and spend more years living in the same old home.

REAL ESTATE NEWS

CNBC today reported that pending home sales fell 2.6% in October (6.7% for the year) as more buyers are priced out. The number of homes on the market in Downtown Los Angeles shrank a significant 20%.  #dtla #realestate #market

In Downtown L.A., recent home prices and speed of sale (Days On Market) stayed about the same as 2017. Median DTLA home price is up 9% to $675,000 while average price is down 2% to $790,000.

The biggest news is the shrinking overall market.  Fewer sellers and fewer sellers are making a move while more people are staying put.

The news is bad for many real estate professionals who are seeing reduced annual income. Housing supply is improving for buyers in some areas across the nation, but supply remains tight in Downtown Los Angeles as loft owners and investors remain comfy and confident with their investments.

Some landlords are feeling a pinch as fewer renters are seeking pricy Downtown loft apartments. “Whereas a few years ago, we were swamped with renters and buyers who needed our help, today the excited new urbanites, both renters and loft buyers, have all but dried up,” says loft specialist real estate broker Corey Chambers. The Chambers Team is now busy helping many sellers who are moving out of the area. Most, however, are staying, very satisfied with Downtown loft living.

Find out what the home down the street sold for

Find out what the home down the street sold for. Get a free list of recently sold homes with prices and photos, along with active for sale listings. 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

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.