Subject :Los Angeles Real Estate Market Comparison (February 2009 Vs February 2010)
We analyze several housing market indicators in order to present an in-depth breakdown of Los Angeles Real Estate Market.We present data for February comparing February 2009 to February 2010.
Summary of Key Points
Key Statistics, Los Angeles, CA: Median Sales Price (-1.04%), Median Days on Market (-17.40%), and Number of Units Sold (16.08%), Sales Price to List Price Ratio (Feb 09 95% - Feb 10 98%)
Los Angeles market is showing signs of growth with sale prices pretty much staying the same.However houses are selling faster (drop in median days on market) and number of units sold category has shown marked improvement.The sellers are now getting 98% of what they list their property for as compared to 95% same time last year.
Los Angeles Real Estate
The city of Los Angeles experienced a 1.04% decrease in median sales price from last year going down from $529,501 (Feb. 09) to $523,982 (Feb. 2010). Median days on market data for Los Angeles shows that houses are selling faster than Feb 09. It took 64 days in Feb 09 for a house to sell and for Feb 2010 that number has gone down to 52 days (a 17.40% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 423 units were sold compared to 491 for Feb 10 (16.08% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Los Angeles. SP/LP ratio for Feb 09 was 95% compared to 98% for Feb 10.
Let's take a brief look at neighbors Beverly Hills and Santa Monica. Beverly Hills Real Estate featured a 6.38% decrease in median sales price ($5,620,000 Feb 09 - $5,261,389 Feb 10) and Santa Monica Real Estate saw a 44.74% decrease ($2,107,000 Feb 09 - $1,164,292 Feb 10). Are houses in Santa Monica and Beverly Hills selling faster or slower this year? Well, Santa Monica experienced a 58.64% increase (49 to 77 days) in median days on market and Beverly Hills saw a 38.47% decrease (195 to 120 days). In the units sold category, Beverly Hills sold 9 units more (100.00%) in Feb 2010 than 09 and Santa Monica sold 7 units more (140.00%) in Feb 2010 than Feb 09.
In addition you will find comprehensive Lending information on FHA, VA, USDA, and Conventional Loans. There are web pages for each major city in California with loan products specific to the city including City Down Payment assistance offered.
HomeSearchFinder.com provides a Proprietary Affordability Mortgage Calculator. It matches your profile against the programs our lenders offer and instantly communicates the PreQual Mortgage amount and the Purchase price you are eligible for.
Access the PreQual Affordability Mortgage Calculator now.
|
