Latest Real Estate Market Data 90019-Los Angeles
Exploring the Booming Real Estate Market in Los Angels's 90019
If you're considering investing in the 90019 zip code of Los Angeles, now is the perfect time to take a closer look at the booming condo market. With median list prices on the rise and an increasing market action index, both condominiums and single-family residences are experiencing impressive growth. Let's dive into the numbers and explore the opportunities awaiting home buyers in this thriving area.
Condominium Market Overview-90019
In the 90019 zip code, the median list price for condominiums currently stands at $749,499, with the market action index hovering around 40. This demonstrates a significant increase from last month's market action index of 33. Furthermore, inventory has expanded to four units, and home sales continue to outpace supply. As the Market Action Index has been steadily climbing for several weeks, it is evident that this area is experiencing a seller's market. Consequently, be prepared for potential upward pricing pressure in the near future if this trend persists.
Single-Family Residence Market Overview-90019
Regarding single-family residences in the 90019 area, the median list price is $1,650,000, and the market action index is hovering around 42, indicating an increase from last month's index of 40. Inventory has risen to 29 units, and the ongoing pattern of home sales outstripping supply continues to drive the Market Action Index higher. As with the condo market, this points to a seller's market, so keep an eye on the possibility of upward pricing pressure if the trend continues.
Sweet Spot for Home Buyers
For prospective buyers, the sweet spot in the 90019 market appears to be around the $1.8 million price point. In contrast to other properties varying in square footage and price brackets, houses within this particular range typically sell reasonably fast, often going under contract within 14 days. Let's examine properties sold, considering the price range, lot size, square feet, and duration on the market.
Median Price Sq.Ft. Lot Size. DOM
$2,335,000 – 2,858 sq. ft. – 6,500-8,000 77
$1,790,000 – 2,182 sq. ft. – 6,500-8,000 14
$1,349,000 – 1,544 sq. ft. – 6,500-8,000 84
$1,162,500 – 1,363 sq. ft. – 0-4,500 80
Conclusion
The condo market in Los Angeles' 90019 zip code is an excellent opportunity for both buyers and sellers. With increasing list prices and a consistently growing market action index, this thriving area offers a range of options for those looking to invest in real estate. Don't miss the chance to capitalize on this flourishing market – explore your options and move today!
As a realtor in the 90019 zip code, I understand the importance of finding the perfect home or investment opportunity in this thriving Los Angeles neighborhood. The market's continuous growth and the diverse range of available properties make it an ideal time for buyers and sellers to act.
Don't miss out on the chance to secure your dream home or make a profitable investment in this booming area. Reach out to our team of experienced real estate professionals today to discuss your needs and let us guide you through the process of buying or selling a property in LA's 90019.