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?
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 Feliz: 1-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?
Sponsored Real Estate Listings
• All Signs Point to Homes in Silver Lake, Highland Park & Eagle Rock
• Mt. Washington charmer with views
That’s it for this week’s issue
See you next Friday!
Jesus Sanchez, Publisher
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