Downtown Los Angeles Real Estate Market Report August 2021: DTLA Property Prices Crash Up with Stagflation

DTLA Property Crash – Downtown L.A. Housing Market Aug 2021

DTLA Feels Full Force of Stagflation as World Economy Sentiment Drops

Up and Down! Average and better L.A. urban home prices increased while the bottom of the barrel decreased. The rich get richer and the poor get poorer. The home price increases occurred even while the Downtown Los Angeles housing market slowed. The number of sellers increased, as the number of buyers decreased. Most urban home prices are today affected by the upward force of inflation, even while the bottom tier and overall market feel the downward pressure of economic stagnation. The well-to-do are able to take advantage of most any situation.

Last August, 32 properties for sale grew to 55 for sale this August; Days On Market increased from 39 Avg / 31 Med to 55 Avg / 30 Med; Most prices shot up in August compared to the same month a year ago: $580,000 Med / $704,000 Avg. As the bottom half bear the brunt, lowest price decreased from $309,000 down to $100,000 while the high price increased from $1,700,000 in 2020 to $3,000,000 in 2021. These numbers are based on real estate agents Multiple Listing Service for Downtown and nearby MLS areas 23, 42 and 1375.

As for the global economy, Americans and Europeans have lost faith in their financial futures recently. US consumer sentiment fell to a near decade low in August, according to Al Jazeera. Europe is feeling no better. While inflation can help boost or prop up the value of real estate, stagflation is not what the doctor ordered. Citibank expects a negative stock market event soon.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. 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.

2020 August

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Downtown Los Angeles Real Estate Market Report July 2021

Up or down? Urban home prices continue to plummet.

Residential Property Prices Update

Urban L.A. home values continue to drop, as they take longer to sell. Motivated home buyers get more scarce in an economy that bears less and less resemblance to the America that we once knew. While radical money printing can prop up the casino-like stock market seemingly almost forever, Americans have grown weary of artificially propped up housing prices. The temporary pandemic real estate boom of 2020 is long gone as families have completed their staycation home improvement expansions, and finished their safer residential suburban neighborhood purchases. Today, the market must unwind the slow, painful way, the traditional way when prospective investors realize that long-term prospects are not at all exciting. Like most other major metropolitan areas, DTLA did not take part in the 2020 hot suburban real estate market.

What took just 18 days to sell in July 2020 now sits 49 days on the market in July 2021. Lofts are down $40,000 this year. Downtown LA median price July 2021 of $525,000 sold in 2020 for $565,000. | PDF REPORTS: JULY 2020 | JULY 2021

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L.A. loft prices drop by $40,000 in 2021.

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. 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.