May162015

Los Angeles County Housing Market Report: May 2015

1for-sale-sign-animatedHistorically, properties in this market sell at a 9.5% discount. Today’s discount is 17.7%. This market is 8.1% undervalued.

Median home price is $475,100 with a rental parity value of $578,200. This market’s discount is $103,100.

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

Resale prices on a $/SF basis increased from $390/SF to $394/SF. Resale prices have been rising for 2 month(s).

Over the last 12 months, resale prices rose 9.5% indicating a longer term upward price trend.

Median rental rates increased $15 last month from $2,486 to $2,501. The current capitalization rate (rent/price) is 5.1%.

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

Market rating = 8

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[listing mls=”OC15100675″]