Real Estate Market Report for Los Feliz, CA. 90027
The Single-Family Market in the Los Feliz neighborhood of Los Angeles has been cooling over the past few months. Prices flattened out. Despite that if you look at the current rate of sale versus the amount of inventory you will notice that despite this Los Feliz is still in a Seller’s Market. I attribute this phenomenon to the significant demand and that there is little inventory available.
The 90027-zip code is famous for having modest size lots compared to other parts of Los Angeles. Land is at a premium. There are virtually no homes on lots larger than a half an acre of land. On the other hand, there are some premium priced homes that are virtually inside Griffith Park and it gives the feel as if your back yard is Griffith Park, which consists of approximately 4310 acres of land. This in turn is the largest Urban Park in North America. Check out one my posts where I have written about it ( Griffith Park )
As of this writing: The Median List Price is: $1,995,000.00
The Average Days on Market (DOM) is 124
There are currently 53 homes on the Market
The Asking Price Per Square Foot is $695
The most Expensive Listing is: $6.195,000.00
The Least Expensive Listing is: $730,000.00
Breaking the down the properties into four Quartiles the numbers become very interesting:
The First Quartile of the Market or the top .25%:
The Median Price is $3,997,000 and the median living sq. ft. is approximately 5,020 and it sits on 0.25 -0.50 acres of land consisting of 5 bedrooms and 4 baths. The average Days on Market is around 218 (DOM).
The Second Quartile of the Market or the second .25%:
The Median Price is $2,395,000 and the median living sq. ft. is approximately 3,650 and it sits on 6500-8,000 sq. ft. of land consisting of 4 bedrooms and 4 baths. The average Days on Market is around 103 (DOM).
The Third Quartile of the Market or the third .25%:
The Median Price is $1,599,000 and the median living sq. ft. is approximately 2,600 and it sits on 6500-8000 sq. ft. of land consisting of 4 bedrooms and 3 baths. The average Days on Market is around 78 (DOM).
The Fourth Quartile of the Market of the bottom .25%:
The Median Price is $1,172,500 and the median living sq. ft. is approximately 1810 and it sits on 1000 – 4500 sq. ft. of land and generally had 3 bedrooms and 2 baths. The average Days on Market is around 100 (DOM).
If you are interested in a Free Market Evaluation of your home please reach out to me directly!
If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002(m) or firstname.lastname@example.org or visit one of my websites at http://www.endrebarath.com. I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations