Los Feliz Real Estate Market Update: September 2010

Low priced Los Feliz real estate is selling relatively quickly, however there is a relatively large inventory homes for sale in the area right now. The mls show the current active listing inventory in the 90027 zip code to be 54 homes. The following chart shows Los Feliz Real Estate Market activity for the Month of August, 2010. Now let's take a look at some year to date figures from January 1, 2010 through August 31, 2010. These figures are for single family homes in Los Feliz only and to not include Los Feliz condos or income properties. Los Feliz Home Sales Year-to-date from January 1st, 2010 through August 31, 2010

• Highest price -  $4,895,000
• Median price -$882,000
• Average price -$1,102,519
• Lowest price - $4,000
• Average Days on the Market - 75
• Average Square footage 2,445.59
• Average price per square foot- $425.99

Year to date, houses in Los Feliz are selling at an average of 4.87% below the asking price.  According to the information provided in the MLS, of the total number of single family homes sold in Los Feliz so far this year, 5 where short sales and 6 where bank owned. So approximately 13% of the total where distressed sales. Los Feliz prices vary by location, school district, property size and condition.  The following chart shows that the majority of sale of Los Feliz single family homes this year have sold between $500,000 and $1,500,000.  If you have been hoping to find a home in Los Feliz for less than $500,000 you'll see that relatively few homes have sold in that range.  This price range is not only very competitive, but the majority of the properties are major fixers, very small, and/or in less desirable areas. For more information on Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com Jenny Durling Broker Associate L.A. Property Solutions 213-215-4758 info@LApropertySolutions.com LApropertySolutions.com Copyright © 2010 By Jenny Durling *All Rights Reserved *Silver Lake Real Estate Market Update: September 2010*