Here's the latest batch of information and news for Eastside home buyers and sellers.
News & Notes
Record High: The median price of a home sold in April in Los Angeles County jumped 19% from April of last year to $750,000 as Southern California real estate values move into record territory, said the L.A. Times.
Act Fast: 26% of the homes in metropolitan Los Angeles were on the market for less than a week in April before sellers received and accepted an offer, reports Zillow. Nearly 80% of homes sold in a month or less.
Movers in Demand: The booming housing market is keeping moving companies extra busy, with some movers booking jobs in July and August, said CBS2.
Hi & Low: The highest priced Eastside home sale within about the past week was a 5-bedroom Los Feliz home with pool that sold for $3,000,000 ($90,000 below asking); the lowest was a 1-bedroom tenants-in-common unit in Echo Park that went for $451,000 ($12,000 over asking).
Real Estate Reductions
$50k reduction on Highland Park 3-bedroom; $25k slice on Victor Heights 2-unit condo; $100k chop on Los Feliz 2-on-a-lot
Here are some examples, followed by a breakdown by neighborhood, of recent price cuts on homes, condos, apartments and other Eastside properties.
Victor Heights 2-unit condo: $25,000 slice on duplex with separate entrances, water heaters, and electric and gas meters. Both units are 2 bedrooms and 1 bathroom. Now $674,000.
Los Feliz 2-on-a-lot: $100,000 chop on Mediterranean-style home with two 1-bedroom, 1-bathroom units. Property also includes a bonus studio with half bath, a detached 2-car garage, and updated amenities. Now $1,399,000.
Which home remains the most overpriced?
3 condos under $600k in Monterey Hills, Victor Heights and Rampart Heights
If you are in the market for a condo under $600,000, here are three properties that are currently available:
Monterey Hills Condo: First-floor unit with 2 bedrooms, 2 baths and patios. Now asking $525,000.
After nearly a year-long wait, Disney's California Adventure Theme Park opened the gates to the Avengers Campus, an experience some fans are calling "superhero land come to life." https://t.co/cRqoFWa4aJ pic.twitter.com/iFmijY0CyB— CBS Los Angeles (@CBSLA) June 4, 2021
Rampart Village Condo: 2-bedroom, 2-bath unit with access to laundry and tandem parking spaces. Now asking $488,888.
Victor Heights Condo: Three-level unit with 3 bedrooms and remodeled kitchen. Now asking $599,000.
Which home is the best deal?
Sponsored Real Estate Listings
That's it for this week's issue
See you next Friday!
Jesus Sanchez, Publisher