Oct192014

Los Angeles County Housing Market News: October 2014

West LAHistorically, properties in this market sell at a 9.5% discount. Today’s discount is 11.7%. This market is 2.1% undervalued.

Median home price is $475,200 with a rental parity value of $536,800. This market’s discount is $61,600.

Monthly payment affordability has been improving over the last 5 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $382/SF to $386/SF. Resale prices have been rising for 7 month(s).

Over the last 12 months, resale prices rose 18.3% indicating a longer term upward price trend.

Median rental rates increased $25 last month from $2,440 to $2,465. 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=”OC14210517″]