REAL ESTATE NEWS
Downtown L.A. in 2020: Spreading symptoms of urban blight #realestate #market #news
The September numbers are now in, and they show that DTLA home prices continue to plummet. The median Downtown area condo priced dropped by $33,000 last month compared to September of 2019, based on MLS data for #dtla and nearby loft neighborhoods 23, 42 and 1375:
2019 Median Home Price $600,000 | 2020 Median Home Price $567,000
Additional negative economic reports have also just been released. The September jobs report weaker than expected, along with troubling announcements of a president who is sick with covid-19, increases the odds of a crashy October and protracted economic depression, with more falling home prices for longer than most expect.
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As smoky orange skies dim hopes, the sun sets on summer, and darkness falls on the Los Angeles economy.Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 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 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.