Listen up, friends: We aren’t kidding when we tell you that LA is one of the hottest real estate markets in the country. In fact, according to a new report from Zillow, home sellers in Los Angeles netted some of the largest profits in the nation in 2017.
LA is not only among the top 35 metros nationwide–it’s in the top 3, alongside the Bay Area and Seattle. In the city of Los Angeles, home prices in 2017 were nearly 40 percent higher than what the seller paid, with a median dollar increase of $137,000. That means LA was one of just five of the nation’s 35 largest housing markets where homeowners saw the price of their home increase by six figures between buying and selling.
What’s more, Curbed is also reporting that Los Angeles was one of the eight metro areas where the average profit for sellers was enough to afford a 20% down payment on a new home, making it easier for sellers to return to the market as buyers.
And these numbers are not just theoretical. Our recent listings sold for an average of 15% over the list price in 12 days or less. If you’re thinking of selling–or even thinking of thinking of selling–we should talk. This is a perfect time to take advantage of our city’s immense appeal, and the overall strength of the West Coast markets.
Contact us today to find out what your home is worth. We are always happy to hear from you.