The prices in real estate in Los Angeles, in the California region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Los Angeles has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $941. In the following month the price per sq.feet decreased to $885. The price for the following two months in (September, October) had a considerable decrease of 71 with regard to the prior two months. The price per sq.feet has decreased 86 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $782.5 to $670 during November, and December.
Based upon to the price in Los Angeles (cities), this has fallen considerably in the last 6 months. The price in July is $1,953,072, rising in August till $2,167,250. During the following two months (September, October) the average price had a considerable reduction of 59 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from $1,637,389.5 to $1,424,844.5 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,310,555 they are 52 % more affordable than the average price for Los Angeles. The properties with the highest average price have 4 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,334,382.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $696 / sq.feet, with an average $661 / sq.feet price in Los Angeles. The properties with the highest average prices have 1 bedroom. They are 13 % more expensive than the average followed by properties with 3 bedrooms with a price at $732 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $1,310,555 it is 36 % cheaper than the average price in Los Angeles. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Detached House". At a price of $2,252,119 it is 225 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Duplex" at an average cost of $516 / sq.feet followed by "Townhouse" priced at $592 / sq.feet. "Land" is the most costly type of property with a $975 / sq.feet cost followed by "Detached House" with an average price of $802 / sq.feet.