Dec202014

Los Angeles County Housing Market News: December 2014

West LAHistorically, properties in this market sell at a 9.5% discount. Today’s discount is 12.9%. This market is 3.4% undervalued.

Median home price is $473,200 with a rental parity value of $549,500. This market’s discount is $76,300.

Monthly payment affordability has been improving over the last 7 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $387/SF to $388/SF. Resale prices have been rising for 9 month(s).

Over the last 12 months, resale prices rose 10.4% indicating a longer term upward price trend.

Median rental rates declined $7 last month from $2,482 to $2,475. The current capitalization rate (rent/price) is 5.0%.

Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.

Market rating = 7

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[listing mls=”PW14254803″]