REAL ESTATE NEWS
Median urban L.A. home price held steady, but other factors show a strained Downtown property market. March median sold price was $597,500. That’s up just a bit from the same month last year, but the other numbers are not as rosy. Average home price fell down significantly, as homes are taking much longer to sell. Median days on market shot up from 31 last March to 55 days on the market last month. Average days on market was even worse: 80 days. Fewer people attempted to sell, and the total volume of sold homes fell from $44.3 million to just $32.5 million. These figures are from real estate professionals MLS Multiple Listing Service for Downtown and nearby loft neighborhoods 23,42 and 1375. Overall, the numbers indicate pressure for DTLA home prices to fall over the coming months.
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 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.