We analyze several housing market indicators in order to present an in-depth breakdown of Los Angeles Real Estate Market comparing March 2009 to March 2010.
Summary of Key Points
Los Angeles Real Estate has showed remarkable improvement with median sales price climbing up while at the same time houses are selling faster.Number of units sold increased .
Key Statistics, Los Angeles, CA: Median Sales Price (29.39%), Median Days on Market (-21.15%), and Number of Units Sold (7.80%), Sales Price to List Price Ratio (March 09 95% – March 10 95%)
Los Angeles Real Estate
The city of Los Angeles experienced a 29.39% increase in median sales price from last year going up from $489,880 (March 09) to $633,876 (March 2010). Median days on market data for Los Angeles shows that houses are selling faster than March 09. It took 78 days in March 09 for a house to sell and for March 10 that number has gone down to 62 days (a 21.15% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 551 units were sold compared to 594 for March 10 (7.80% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Los Angeles. SP/LP ratio for March 09 was 95% compared to 95% for March 10.
Let’s take a brief look at neighbors Beverly Hills and Santa Monica. Beverly Hills Real Estate featured a 34.05% increase in median sales price ($3,207,308 March 09 – $4,299,461 March 10) and Santa Monica Real Estate saw an 18.06% decrease ($1,630,000 March 09 – $1,335,567 March 10). Are houses in Beverly Hills and Santa Monica selling faster or slower this year? Well, Beverly Hills experienced a 65.31% increase (84 to 139 days) in median days on market and Santa Monica saw a 31.14% increase (55 to 72 days). In the units sold category, Beverly Hills sold 1 unit less (-5.00%) in March 2010 than 09 and Santa Monica sold 10 units more (200.00%) in March 2010 than March 09.
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