Los Angeles Real Estate Market Report August 2017
Browse Los Angeles Homes for Sale
Here’s a look at the Los Angeles real estate market report for August 2017. This month saw a slight decrease in number of homes on the market while, depending on the area, most LA neighborhoods also saw an overall decrease of homes values as well. Compared to last month, due in part to many people going on summer vacations and preparing to go back to school, some areas did see a likely temporary dip in home values. The loosening of regulations for buyers obtaining a mortgage combined with interest rates staying historically low will likely lead to an greater increase in home values in the next few months. Text or Call us Today at (818) 527-2912 to find out more.
A Look at the Housing Stats
Number of New Listings: 1,278
Number of Homes Sold: 864
Average Days on the Market: 46 Days
Median Home Sold Price: $805,000
Median Home List Price: $796,950
Homes in LA Sold for 99% of List Price
A Look at Median Home Values in Other Cities in LA Area for August
- In Glendale: $710,000
- In Burbank: $715,000
- In Eagle Rock: $859,000
- In Valley Glen: $785,000
- In North Hollywood: $554,000
- In Studio City: $895,000
- In Montrose: $695,000
- In La Cañada Flintridge: $1,675,000
- In La Crescenta: $895,000
- In Sunland-Tujunga: $563,000
- In Mount Washington: $855,000
A Look at the LA Condo Market
Median Home Sold Price: $690,000
Median Home List Price: $683,100
Condos in LA Sold for 99% of List Price
|All Condos for Sale in Los Angeles||Los Angeles Instant Home Valuation|
|Under $400K||Under $500K|
|Under $600K||Under $700K|
|Under $800K||Under $900K|
|Under $1 Million||Luxury Condos Over $1 Million|
A Look at Condominium Values in August in Other Cities in the LA Area
A Look at the LA Townhouse Market
Median Home Sold Price: $776,000
Median Home List Price: $791,520
Townhomes in LA Sold for an average of 102% of List Price
A Look at Townhomes in Other Cities in LA Area
What does this Data Mean?
Median price is a form of determining the average price. Therefore, when we show you what the median prices were for this month this is demonstrating what was the average price homes were selling at.
How do we determine whether we are in a seller’s market or a buyer’s market?
There is a simple formula for this. Basically if homes are selling in under 4 months this is indicative of a seller’s market. If homes begin to take longer than 6 months to sell then it is a buyer’s market. Anything in-between is indicative of a fairly balanced market.
What does this mean if you are buying a house in Los Angeles?
To purchase a home in Los Angeles you need a great agent, period! Homes sell quickly and depending on the neighborhood there is often low inventory. If you are looking to buy a house in Los Angeles, Contact Us Today! We can set you up on our VIP Buyer Program which allows you to search homes just like a real estate agent and get access to upcoming listings before they even hit the market.
What does this mean if you want to sell a house in Los Angeles?
Are you looking to sell your home in Los Angeles? There is a lot you will need to know: disclosures, mandatory city & county requirements, and attracting the most amount of qualified buyers to your home. That is why having the best real estate agents working for you is crucial to netting the most amount of money on your home. Text or Call (818) 527-2912 Today to find out more.
Here are the most recently added homes in the median price range of LA:
If you are looking to Buy a Home, Sell a Home, or Invest in Real Estate, Text or Call us at (818) 527-2912 Today!