Los Angeles Real Estate Market Soars 24.7%

Home prices in Los Angeles soared in 2020 and it’s not showing any signs of stopping. Since May 2020, listing prices for homes are up 24.7%, with an average median home price of $775,000.  Just 10 years ago that same median home price was $407,000. Many economic experts expect the market to eventually stabilize, but price declines are not to be expected.  As the COVID lockdown slowly gets lifted more homes are expected to hit the market as homeowners start to feel secure in the job market in a post-COVID world. This past year has been historically crazy for the housing market, but the future is looking bright.

Article by: Beverly & Company – Social Media Team