Mon Nov 18 2019
This week the median list price for Los Angeles, CA 90016 is $1,049,000 with the market action index hovering around 58. This is an increase over last month's market action index of 54. Inventory has held steady at or around 23.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,049,000|
|Per Square Foot||$626|
|Days on Market||73|
|Strong Seller's Market|
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,499,900||2,616||6,500 - 8,000 sqft||4||2||94||0||1||119|
|$1,149,500||1,841||4,500 - 6,500 sqft||3||2||79||0||1||82|
|$954,000||1,588||4,500 - 6,500 sqft||3||1||97||2||1||45|
|$689,000||893||0 - 4,500 sqft||2||0||96||1||0||52|