The median sale price in July for homes on the Westside was $1.1 million – nearly as expensive as San Francisco. The Westside was an extremely competitive market in July as well, with the typical home selling within 15 days and the majority receiving multiple offers, according to real estate brokerage, Redfin.
The report highlights the Westside and Eastside housing markets of L.A. in their highest demand this July. On the Westside, the most expensive area of L.A., the median sale price was $1.1 million, up 10 percent from last year. While the Eastside’s median sale price of $582,500 seems modest by comparison, both areas were embroiled in tough buyer competition. The typical home on both the Eastside and Westside sold within 15 days. And Among homes sold on the Westside in the past 90 days, more than 46 percent went for above asking.
The Westside’s Fox Hills, where you can still buy a condo for less than $500,000, was one of the city’s fastest markets, with the typical home selling within 12 days.
For more information visit www.redfin.com/research/reports/.
