L.A. and O.C. Home Prices Jump 6.1% While Downtown Los Angeles Home Prices Jump 8.2%

200-n-san-fernando-rd-105-028_320x240eThe Los Angeles times reports that home prices in Los Angeles and Orange counties posted strong gains in July, rising 6.1% from a year earlier.  That was larger than the 4.7% increase seen nationally, the Standard & Poor’s/Case-Shiller index showed. Compared with June’s figures, prices inched up 0.4% in the L.A. area. Downtown prices of course outperformed the rest of Los Angeles County, Orange County and nationwide.

National figures are not as bright. Sales of nationwide previously owned homes dropped 4.8% in August from a month earlier.

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And on Monday, the National Association of Realtors reported that pending sales — based off signed contracts, not closed deals — fell 1.4% last month for the U.S.

200-n-san-fernando-rd-105-008_640x480 copyDowntown LA provides the happiest story because local homeowners gained an average $48,711 in home value this past year.  The naysayers who said a year ago that Downtown prices were “too high” have again been proven wrong. Downtown has yet again out-performed the surrounding area and the nation. Downtown Los Angeles home prices are up 8.2% in the 12 months over the previous year.

Here are the numbers for Downtown Los Angeles for the most recent 12 months, and the year before that (provided by the L.A. Loft Blog using MLS data as of 09/29/2015):

Last 12 months: 476 homes sold.  Average price of $640,574
Previous 12 months: 482 homes sold. Average price of $591,863

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Copyright © 2015 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 necessarily associated with the home owner’s association, seller 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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Lofts and condos sold December 2014 and January 2015:

Photo	MLS #	AR #	S	Address	Unit #	City	BR	Baths	SqFt	$/SqFt	LP	SP	Lot Sz	HOD	YB	Pool	DOM	Map
31	14-800893	42	S	460  S SPRING ST #601	601	LOS ANGELES	1	1.00 (1 0 0 0)	720	$680.56	$490,000	$495,000	30,787	$457	1912	No	9	634/F4
26	14-808741	42	S	900  W OLYMPIC BLVD #50D	50D	LOS ANGELES	2	3.00 (3 0 0 0)	2,640	$1,098.11	$2,899,000	$2,900,000	399,270	$2,750	2010	Yes	24	634/D5
11	DW13039899MR	23	S	360  W 26 AVE #413	413	LOS ANGELES	0	1.00 (1 0 0 0)	630	$317.46	$200,000	$200,000		$312	2006	No	596	/
15	IV14142263MR	42	S	940  E 2nd ST #28	28	LOS ANGELES	2	3.00 (3 0 0 0)	1,280	$644.45	$824,900	$808,888	43,803	$345	1906	No	26	/
15	PW14263131MR	42	S	315  E 8th ST #1104	1104	LOS ANGELES	1	1.00 (1 0 0 0)	640	$640.63	$410,000	$410,000	7,339	$465	1925	Yes	0	/
25	14-804667	42	S	801  S GRAND AVE #1403	1403	LOS ANGELES	1	1.00 (1 0 0 0)	990	$681.82	$675,000	$635,000	58,984	$772	1985	No	55	634/E5
24	14-806569	42	S	801  S GRAND AVE #1207	1207	LOS ANGELES	2	2.00 (2 0 0 0)	1,330	$600.75	$799,000	$785,000	58,984	$875	1985	No	62	634/E5
1	14-817057	42	S	645  W 9TH ST #319	319	LOS ANGELES	2	2.00 (2 0 0 0)	1,370	$575.18	$788,000	$788,000	0	$675	2006	Yes	2	634/E5
18	SR14226621CN	42	S	312  W 5TH ST #617	617	Los Angeles	1	1.00 (1 0 0 0)	770	$480.52	$370,000	$380,000	27,285	$266	1923	Yes	69	/
19	14-762063	42	S	900  W OLYMPIC  #33J	33J	LOS ANGELES	2	3.00 (3 0 0 0)	2,050	$1,195.12	$2,450,000	$2,200,000	399,277	$2,367	2010	Yes	235	634/D5
26	14-785303	42	S	530  S HEWITT ST #554	554	LOS ANGELES	0	1.00 (1 0 0 0)	740	$748.65	$554,000	$520,000	39,304	$355	1920	Yes	98	634/H5
3	14-811313	42	S	100  S Alameda ST #248	248	LOS ANGELES	2	2.00 (2 0 0 0)	1,042	$526.87	$549,000	$520,000		$427	2005	Yes	51	634/G4
7	IV14177683MR	42	S	630  W 6th ST #213	213	LOS ANGELES	1	1.00 (1 0 0 0)	530	$518.87	$275,000	$279,000	26,607	$450	1962	No	156	/
19	14-790141	42	S	630  W 6TH ST #408	408	LOS ANGELES	1	1.00 (1 0 0 0)	580	$601.72	$349,000	$349,000	0	$588	1962	No	74	634/E4
27	14-811297	42	S	801  S GRAND AVE #1905	1905	LOS ANGELES	3	2.00 (2 0 0 0)	1,580	$601.27	$950,000	$950,000	0	$938	1985	No	16	634/E5
19	14-811379	42	S	416  S SPRING ST #707	707	LOS ANGELES	1	1.00 (1 0 0 0)	740	$682.43	$505,000	$490,000	10,334	$455	1914	No	66	634/F4
21	14-813907	42	S	100  S ALAMEDA ST #213	213	LOS ANGELES	1	1.00 (1 0 0 0)	735	$624.49	$459,000	$434,000	138,016	$394	2005	Yes	48	634/G4
19	314034062IT	42	S	416  S SPRING ST #1106	1106	Los Angeles	1	2.00 (2 0 0 0)	1,176	$577.38	$679,000	$675,000	10,334	$521	1914	No	29	634/F4
20	PW14131115MR	42	S	645  W 9th ST #216	216	LOS ANGELES	2	2.00 (2 0 0 0)	1,305	$498.08	$650,000	$648,000	74,818	$523	2006	Yes	142	/
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Copyright © 2015 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 necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 478-0499 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.