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Los Feliz Real Estate Market Update: September 2010

By Jenny Durling

Real Estate Agent with L.A. Property Solutions BE# 01342428

September 06, 2010 05:04 PM

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.

Los Feliz Market update 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 house 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.

Los Feliz Market sold property break down August 2010