Los Angeles Real Estate Market Report December 2017
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Here is a look at the Los Angeles real estate market report for December 2017. This month saw a significant drop in the amount of homes for sale while the number of homes actually sold remained around the same level as previous months. Compared to last month, we have also seen some surrounding city’s home values drop while others went up. Typically with such lowe inventory available we see large spikes in home values. However, around the holiday months the number of homes sold also tends to drop. Beginning in the new year we are likely going to see home values begin to rise again depending on how high interest rates go up. If you would like to know more or have any questions, Text or Call LoveLiveLA.com Today at (818) 527-2912.
A Look at the Housing Stats
Number of New Listings: 992
Number of Homes Sold: 806
Average Days on the Market: 48 Days
Median Home Sold Price: $760,000
Median Home List Price: $783,505
Homes in LA Sold for 97% of List Price
A Look at Median Home Values in Other Cities in LA Area for December
- In Glendale: $775,000
- In Burbank: $730,000
- In Eagle Rock: $825,000
- In Valley Glen: $779,000
- In North Hollywood: $565,000
- In Studio City: $1,150,000
- In Montrose: $755,000
- In La Cañada Flintridge: $1,935,000
- In La Crescenta: $868,000
- In Sunland-Tujunga: $515,000
- In Mount Washington: $891,000
- In Pasadena: $858,000
- In Stevenson Ranch: $646,000
- In Valencia: $510,000
- In Saugus: $535,000
- In Sherman Oaks: $895,000
- In Van Nuys: $459,000
- In Granada Hills: $593,000
A Look at the LA Condo Market
Median Home Sold Price: $690,000
Median Home List Price: $704,081
Condos in LA Sold for 98% 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 December in Other Cities in the LA Area
- In Glendale: $445,000
- In Burbank: $489,000
- In North Hollywood: $441,000
- In Studio City: $715,000
- In Pasadena: $680,000
- In Valencia: $353,000
- In Saugus: $282,000
- In Sherman Oaks: $522,000
- In Van Nuys: $329,000
A Look at the LA Townhouse Market
Median Home Sold Price: $821,000
Median Home List Price: $812,871
Townhomes in LA Sold for an average of 101% of List Price
A Look at Townhome Values in December in Other Cities in LA Area
- In Glendale: $565,000
- In Burbank: $578,000
- In Pasadena: $663,000
- In North Hollywood: $478,000
- In Stevenson Ranch: $440,000
- In Valencia: $441,000
- In Saugus: $379,000
- In Sherman Oaks: $607,000
- In Van Nuys: $298,000
- In Granada Hills: $425,000
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!
*Note all data is compiled from the ITech MLS System. The numbers reflect the market from the preceding month as the current month’s stats are not available until the following month.