According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.
NAR’s Chief Economist, Lawrence Yun, had this to say,
“What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.”
Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract. #LALoft
For example this unit is already under contact in the walkable Arts District, MURA, is a JD Power Award Winning LUXURY condominium. With some of the best new dining, shopping and art-viewing in the city, it’s an entertainment galore in this ever-evolving trendy neighborhood. This amazing unit has HIGH CEILINGS with 2BD & 2BA & LOFT with VIEWS of the city! BRAND NEW Designer paint & BRAND NEW Key West custom carpet throughout the entire home, this BRIGHT and AIRY unit is highlighted by a gourmet chef kitchen with granite slab countertops, stainless steel appliances, beautiful coordinating tile floors and NEW recessed lighting. A Spacious bedroom with adjacent bathroom with NEW designer faucet is located on the main floor. Come outside on the private balcony to enjoy the VIEWS and excitement of the Arts District. On the 2nd floor, you will find a fabulous LOFT space with more unobstructed VIEWS from the large windows and leading to the spacious master suite with walk-in closet and a dual vanity basin with solid granite countertops and NEW designer faucets. Complex amenities include a state-of-the-art fitness center with Plasma TV’s, a lushly landscaped courtyard with built-in barbecues and water features, an outdoor lounge with fireplace plus a resort-style swimming pool & spa, 24 hrs security and onsite management, guest parking and bike rack parking are also available for your convenience. Come live at MURA, and be a part of the historic renaissance of the DTLA!
Bottom Line
If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Let’s get together to discuss exactly what’s going on in our area, today! Also, with homes selling so quickly Buys should be looking to be ready to finance and that means getting prequalified for FHA/VA home loans to get more information fill out the online form.
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629 Traction Avenue unit 215
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.
