Los Angeles Real Estate and Homes for Sale
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With homes for sale in Los Angeles being in high demand it will be interesting to check in on a weekly basis. How many new properties came on the market, how many went under contract and how many sold. Starting from the end of last week we will start to take a look at the trend and compare it on a weekly basis. This report will provide the baseline and next week we will be able to see how the Los Angeles real estate market trend is going. Bel Air – Holmby Hills – Single family: … [Read more...]
I am sure by now you must know that real estate in general, but specifically Los Angeles real estate is experiencing a shortage of inventory, and the common complaint heard from both Realtors® and Los Angeles home buyers is "there is nothing to buy". Or, if something comes on the market "we have to compete with numerous other buyers". So are things improving? How is the housing market doing and how is the inventory right now? Information provided by MLS/CLAW deemed reliable but not … [Read more...]
Let's check in in the Los Angeles real estate real estate market by neighborhood for the 1st Qtr of 2013 and compare it to the last Qtr of 2012. Which areas favor sellers and which favor buyers? The communities below exclude the cities of Beverly Hills, Santa Monica, West Hollywood, and Culver City, and the communities of Westwood, Brentwood and Century City which are covered separately, as is the Wilshire Corridor The comparison is against the last Quarter of 2012. Los Angeles … [Read more...]
All we are hearing lately is that the number of Los Angeles homes for sale is down. Is this true? Is there something else going on? Let's take a look at the City of Los Angeles itself and see the cold, hard facts. These statistics are for single family homes and exclude the cities of Santa Monica, West Hollywood, Culver City, and Beverly Hills. You will see the monthly trend in the chart below, compared with January of 2012, last month the number of homes for sale was down 43% while … [Read more...]
Whether you are a Los Angeles home buyer or seller, it is always interesting to know which are the best selling neighborhoods in Los Angeles. Best selling neighborhoods are a double-edged sword. Great for sellers, not so great for buyers in a market with very low inventory. However, it is always good to be where everyone wants to me. Sounds like a song from "Friends". So let's look take a look at the 10 top selling neighborhoods in Los Angeles for 2012. Since some areas are … [Read more...]
Let' see how Los Angeles real estate is doing compared with the same period in 2011. The +/- and percentage differences are over the first nine months of 2011. Other areas have their own separate reports, with links shown below. (Blue is a sellers' market, red a buyers' market and white a stable market). Information taken from the MLS/CLAW deemed reliable buy not guaranteed Community Active 2012 Sold 2012 +/- Median 2012 %+/- % Sold vs List … [Read more...]
Half a year has passed already so let's take a look how Los Angeles real estate is doing compared with the same period in 2011. The +/- and percentage differences are over the first six months of 2011 Los Angeles Single Family Homes Community Active Under Contract Sold +/- Median +/- Market Beverly Hills 101 25 69 -6 $4,175,000 +95% * Bel Air/Holmby Hills 117 34 74 -3 $1,815,000 +10% Beverly Center | … [Read more...]
If you are buying Los Angeles real estate or selling, mortgage interest rates are low, home prices are probably at or near bottom, and in many areas are rising. If you are selling Los Angeles real estate, the same applies. Let's see how this week compares with Los Angeles real estate sales week ending June 17th. The +/- indicates the difference over the previous week. New listings may also reflect properties that dropped out of escrow and came back on the market. All figures are for … [Read more...]
If you can find a home in this market of low inventory, now is a great time to be buying Los Angeles real estate. Mortgage interest rates are low, home prices are probably at or near bottom, and in many areas are rising. It will be interesting to watch the movement each week by area: Los Angeles Single Family Homes Community New Median Pending Sold Median High Low Beverly Hills 7 $3,450,000 4 2 $10,007,500 $14,750,000 $5,265,000 Bel Air/Holmby … [Read more...]
Let's check in on the Downtown L.A. condo market to see how First Quarter figures look. The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed. Number Sold: 110, a decrease of 3.77% over the same period last year. Median Price: $283,750, a 2.99% decrease over the same period last year. There are 93 active listings on the market which means, with an average of 36.67 condos sold over the first three months, the market is trending towards a sellers' … [Read more...]
People often ask how is the real estate market in Los Angeles right now. The answer I guess depends on whom you ask. According to the MLS there are currently 206 foreclosures and 434 shorts sales on the market in the approximately 73 areas they cover, which actually does not seem like a large number. And in the areas frequently covered by me there are 43 foreclosures and 82 short sales, still not a large number. The problem right now with standard sales is that inventory is low in … [Read more...]
Let's compare the Silver Lake and Echo Park real estate market in the 1st Quarter 2012 against the same period last year. At present it is difficult to accurately split the two markets as the MLS combines them. However, I hope soon to be able to do that since Echo Park and Silver Lake are two distinctly different communities. The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed. Also, they reflect single family home sales only. Number Sold: 69, a … [Read more...]
Let's see how the Los Angeles real estate market is doing by selected communities: SINGLE FAMILY HOMES Communities Active Sold Median Average Sold Per Month Market Bel Air/Holmby Hills 97 5 $1,722,000 8.69 Strong Buyers Beverly Center | MM 58 11 $825,000 10 Sellers Beverly Hills P.O. 99 9 $1,850,000 11.16 Buyers Beverlywood 46 116 $722,500 14.16 Strong Sellers Cheviot … [Read more...]
Let's take a look at how Downtown Los Angeles condos fared over the past year. For the purposes of this report I have broken the price ranges down to under $500K, $500K to $1 Million, and the over $1 Million bracket. The largest movement is in the under $under 500K category. Market absorption indicates the amount of time it will take to sell the existing inventory on the market. Six months is a balanced market; under six months a sellers' market; over six months a buyers' … [Read more...]
Echo Park is a highly desirable area near Downtown Los Angeles, and homes don't generally stay on the market there too long. A sellers' market is one where the inventory is below 6 months. A buyers' market one where it is above six months. And six months' inventory is a stable market. Median price is the price at which half the homes sold above this price and half below. Average sales price does not accurately reflect the trend since one extremely high-priced or one extremely … [Read more...]
The following represents the Los Angeles housing market trend for single-family homes over the last 13 months. Overall the figures show the market turning around as follows: The median price has decreased by 12% from $608,000 in '08 to $533,000 in '09. The number of homes sold in Los Angeles has increased 12%, from 356 to 410. The number of properties on the market has decreased by 42%, from 4,500 to 2,632. … [Read more...]
