Tag: home values

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Downtown Los Angeles Real Estate Market Report October 2022

REAL ESTATE NEWS (Los Angeles, CA) — The latest number are in. Did loft prices go up or down last month? In the midst of stagflation, the local real estate numbers are dropping. It’s a full on real estate crash in Downtown Los Angeles. Here’s the scoop:

47 listings in October 2021. Down to only 21 listings in Oct 2022.

43 average Days On Market October 2021. 63 DOM in Oct 2022.

21 median DOM Oct 2021. 53 median DOM in Oct 2022.

Median price $560,000. Down from $589,000 last October.

Average price was $677,104 in Oct 2021. Average price $662,600 in Oct 2022.

The total market size has dropped to less than half of last year, as most potential sellers decide not to sell. Properties take more than 50% longer to sell.

Get a free list of live/work lofts new listings for sale or for lease in the Greater Los Angeles Area. 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 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. | PDF: Market October 2021 | Market October 2022

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Home Ownership 2022 / 2023: Why Home Owners are Sitting Pretty

REAL ESTATE NEWS (Los Angeles, CA) — As the Federal Reserve hikes interest rates to a more historically normal level, we’re hearing and seeing fewer prospective home buyers in the Greater Los Angeles Area. Residential real estate prices today are near all time highs. Rents are also around all time highs. What many are not aware of is that home equity is also near all time highs, according to Money.com. This, along with relatively full employment and fairly normal financial condition of households (except for inflation), means that most home owners have no pressing reason to sell. Because home ownership and home values grow from inflation, today’s home owners are in an advantageous position.

While today’s lower number of transactions is sad for many real estate agents who were making a killing last year, the current situation is good news, favorable for the average home owner. Some home prices have dropped, but these are just the few who must sell quickly for personal reasons or out of their own decision to panic during a crashy stock market season. Even if inflation were to be quickly eradicated, which is not happening, most home owners would prefer to watch and see rather than engage in panic selling. As the Loft Blog projected, home prices are not massively plummeting any time soon, so long as inflation continues to apply upward pressure on most prices. Landlords and investors are doing well, as are most other residential property owners.

How much is your home worth? 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 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.