These are the the third quarter statistics for median single-family home prices in the Los Angeles area.
Looking at the home prices around the country, I can imagine some of you gasping in shock when you see our median home prices of $849,500, and those prices having dropped a whopping 2.91% over the past year.
At the top, Malibu Beach's median price is $5,040,000 and Beverly Hills comes in a distant second at $3,100,000. A worthy mention goes to Pacific Palisades at $2,050,000.
South and East Los Angeles were the hardest hit.
So now you know why I am in disbelief when I see the pricing of the magnificent homes some of you are listing for less than the median price of our condo market.
The median price of our condos in the same areas is roughly $463,000, a drop of 11% over last year.