Los Angeles County Housing Market Report: August 2016
Historically, properties in this market sell at a 9.5% discount. Today’s discount is 16.7%. This market is 7.2% undervalued.
Median home price is $542,100 with a rental parity value of $657,300. This market’s discount is $115,200.
Monthly payment affordability has been improving over the last 6 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased from $423/SF to $426/SF. Resale prices have been rising for 11 month(s).
Over the last 12 months, resale prices rose 7.1% indicating a longer term upward price trend.
Median rental rates increased $22 last month from $2,741 to $2,763. The current capitalization rate (rent/price) is 4.9%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 6