44% of L.A. listings are reduced in price
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In August I linked to a neat Redfin feature that allows you to track the housing market in almost any neighborhood of L.A. I thought I’d update that post to show some trends in L.A. These stats are for the city of Los Angeles, but you can use the Redfin tool to track any Zip Code.
Date August 13 Oct. 2
--Listed for sale 16,859 16,127
(home and condos)
--Foreclosures for sale 1,698 2,032
--Median list price $475,000 $459,000
--Median sales price* $400,000 $380,000
--Median days listed 85 90
--% reduced in price 43.9% 44.7%
--Median total reduction 9.3% 10.0%
*Based on homes sold or taken off the market in the previous 90 days
Your thoughts? Comments? I’m happy to start tracking a couple of ZIP Codes on the blog -- tell me which ZIP you’d like to see, and why. I’m inclined to pick a ZIP in the $700,000 range, because there seems to be so much interest among readers in areas that are somewhat pricey, but below $1 million. Let me know your thoughts.
-- Peter Viles