real estate market – Page 15

REAL ESTATE NEWS | Home Prices Take Giant Leap in DTLA

While global real estate prices begin to level off, the Downtown Los Angeles property market launches skyward at great velocity. With more than $100,000 gain over the same month last year, DTLA shows the world how a sudden recovery can really get up and go! For the local and global economy, stagflation is the name of the game. With government printing presses on overdrive, and a beginning demise of the U.S. Dollar, Downtown L.A. only needs to commit to a modicum of improvement in order to see unprecedented gains in home prices. Lofts and other condos are selling much faster: 15 days faster on average, and most homes selling 58 days faster than last November!

Nov 2020:
29 Listings; 71/71 Avg/Med Days on Market; $620,000/$653,981 Med/Ave Sold Price

Nov 2021:
31 Listings; 56/18 Avg/Med Days on Market; $725,000/$775,677 Med/Ave Sold Price

Based real estate professional Multiple Listing Service for Downtown and nearby loft neighborhoods MLS areas 23, 42 and 1375.

Find out what the home down the street sold for

This rapid improvement in Downtown marks an enormous change in what was mostly a falling market for the last several years. November’s price increases also reinforce and confirm the price increases that we reported for October. The pricier, higher-quality homes are doing the best, as the rich get richer, giving first-time home buyers a little time to scrape up the pennies and take advantage of Downtown LA real estate prices while they are still historically low.

HOW MUCH IS YOUR LOFT WORTH? Find out free online.

Get a free list of recently sold properties, along with a list of currently listed homes. Fill out the online form:

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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.

The holiday is not the peak listing time for Los Angeles Loft Real Estate Sales and Leasing. But the current situation, namely a super-low supply of homes coupled with great demand, is not typical. Usually, there are fewer buyers than in May or June, meaning homes tend to take longer to sell during the holidays. So sellers often wait to list until spring. But this year is one like no other. See what’s on the market now; check out the Lofts Reviews of Biscuit Lofts here.

There are fewer lofts for sale during the winter months anyway. In this current market, inventory is already at historic lows. So owners who want or need to sell a loft during the 2021 holiday season probably won’t have too much competition.

Although there are also typically fewer buyers during the holidays, it’s still very much a seller’s market right now. However, the buyers who are looking during the holiday season are serious about making an offer.

Many lofts and their buildings look especially festive during the holidays, with holiday lights, wreaths, and outdoor displays. This means the holidays can impart an inviting, homey feel to a listing and the surrounding downtown neighborhoods.

Low-interest rates equal lower monthly mortgage payments. But, unfortunately, next year the rates are expected to rise significantly. Earlier this year, the Mortgage Bankers Association (MBA) reported that when interest rates barely rose, from 2.96% to 2.98%, mortgage applications fell 5.1%. This shows that even the slightest fluctuation in interest rates can make a significant difference in buyer behavior.

#homesellers #holidaylistings

Fill out the online form to get new loft listings.

Today’s situation is unlike years past when the advice would typically have been to wait until spring to sell, if possible. If you’re on the fence about listing during this holiday season or waiting for spring 2022, there’s really no reason not to list now. Either way, it should remain a seller’s market for at least another year.

Source Story from USA Today

<a href="https://laloft.wufoo.com/forms/qlp4as109nakqi/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Use holiday decorations to boost your properties curb appeal

Copyright © This free information provided courtesy L.A. Loft Blog with the 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 are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

Tag: real estate market

Downtown Los Angeles Real Estate Market Report November 2021

Here is Why You Should List Your Loft During the Holidays in 2021

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