thegoodlife

A boutique real estate brokerage servicing LA’s Eastside & beyond

Los Angeles Market Update

Price reductions have hit Los Angeles! Is it because the market is cooling or is it because some homes were priced unrealistically high to begin with? We think the latter. Stats show Eastside homes are still in historically low supply, with about 1-2 months of inventory available and roughly 11% less homes on the market than this time last year. Interest rates have gone up significantly, cooling things ever so slightly but since so many LA sales are cash we’re not sure rate increases will have the intended impact.

Bidding wars are still more common than not, though the average home currently sells for about 8% over ask in comparison to spring’s 20% over ask. Don’t get me wrong, we love a good ol’ fashioned bidding war but we’re kind of excited to see things normalizing a bit from the previous season’s 30-50 offers per home. 

Is now a good time to buy? Regardless of interest rates or supply levels, we think its always a good time to pay your own house payment instead of burning your money away paying your landlord’s. Feelings? Thoughts? Hit us up, let’s chat!

Recent Posts

SOLD: 163 Painter St in Pasadena

SOLD: 163 Painter St in Pasadena

What will you do with all this spare time now that your home search is finally over? We have some ideas: Start your day with song birds on under the shade of mature avocado & oak trees. Plant a vegetable garden in your drought-tolerant front yard. Toss open the detached garage accordion doors...

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SOLD: 4870 Stratford Rd in Highland Park

SOLD: 4870 Stratford Rd in Highland Park

The sun seems to shine just a little bit brighter here on Stratford Road. The way it cascades through those big beautiful casement windows every morning, dancing from room to room. Moods seem a little brighter too; summer days regenerating in the ultra-satisfying central air conditioning, breezy...

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SOLD: 478 E. Avenue 28

SOLD: 478 E. Avenue 28

Sitting at the foothill of a lush green hillside, nestled among California native wildflowers is this 1926 Bungalow in Historic Lincoln Heights. Beloved and thoughtfully restored over the past 8 years, it features a floor plan with abundant natural light, high ceilings, refinished original wood...

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