January 16, 2022


our dream home

L.A. County median home price hits $775,000 | Juneteenth Delays | Real Estate

3 min read

Here’s the latest batch of information and news for Eastside home buyers and sellers. 

News & Notes

Record High: The median price of a home sold in L.A. County in May jumped 25% from last year’s level to $775,000 — a record high. Last year’s housing activity was depressed during the early months of the pandemic, which magnified the year-over-year change. Analysts expect prices to rise more slowly in the coming months. L.A. Times

Spring Sales Slow: May home sales are normally higher than those in April — but not this year.  The number of L.A. County homes sold in May declined by 7% from April. Sales may have been undermined as affordability has dropped. Daily Breeze

Juneteenth Delays: The last minute adoption of the Juneteenth federal holiday last week disrupted the closing of many home loans and sparked confusion among mortgage lenders. Housing Wire

Celebrity Real Estate: “NCIS” star Emily Wickersham has listed her Los Feliz Spanish Colonial-style home at just over $3.8 million, Dirt reported.

Hi & Low: The highest priced Eastside home sale within about the past week was a renovated Silver Lake 3-bedroom with views that sold for $2,876,000 ($481,000 over asking); the lowest was a 2-bedroom Monterey Hills condo that went for $435,000 ($7,000 over asking).  

Real Estate Reductions

$26k slice on East LA 1-bedroom; $36k reduction on Los Feliz condo; $151k chop on Garvanza cottage

Here are some examples, followed by a breakdown by neighborhood, of recent price cuts on homes, condos, apartments and other Eastside properties.

East LA 1-bedroom: $26,000 slice on gated home divided into 2 sections with 1 bedroom and 1 bathroom. Property has the potential to add an ADU. Now $499,500.

Los Feliz condo: $36,000 reduction on 1-bedroom and 1-bathroom unit in Los Feliz Towers with private balcony. Condo amenities include pool, sauna and gym. Now $589,000.

Garvanza cottage: $151,000 chop on updated English cottage with 2 bedrooms, 2 bathrooms, an office, a fireplace in living room, a patio with an outdoor kitchen, and a detached garage. Now $999,000.

Which home remains the most overpriced?

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Now Asking

Condos for under $600k in Lincoln Heights, Los Feliz & Monterey Hills

If you are in the market for a condo for under $600,000, here are three properties that are currently available:

Here are three current options: 

• Los Feliz1-bedroom, 1-bath unit with balcony and access to pool, sauna and gym. Now asking $589,000.

• Lincoln Heights: Studio includes 2 bathrooms, steel appliances, a new microwave, new flooring and an in-unit washer and dryer. Community amenities include 2 parking spaces, a recreation room and gym. Now asking $529,000.

• Monterey Hills: 2-bedroom condo includes 2 bathrooms, in-unit laundry, a chef’s kitchen with a formal dining area and a breakfast bar, plus an oversized balcony. Amenities include a recreation room, a pool and a spa. Now asking $519,000.

Which is the best deal?

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• Mt. Washington charmer with views

That’s it for this week’s issue

See you next Friday!

Jesus Sanchez, Publisher

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