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The Affordable Housing Paradox in LA County: Investments and Vacancies

As a Realtor deeply invested in the well-being of Los Angeles, I, Nathan Derry, have witnessed firsthand the complexities of our housing market. LA County has poured billions into affordable housing initiatives, yet a significant number of apartments remain vacant. This blog explores the financial commitments made by the county, the paradox of empty units, and how issues such as mental heal...

Beverly Grove Real Estate Market in July 2024

As we delve into the real estate market data for Beverly Grove, 90048, for July 2024, we see an absorption rate of 9%. This means that only 9% of the available properties were sold during the month. Specifically, out of the 55 active listings, only 5 properties sold, with an average sales price of $2,199,000 and an average of 52 days on the market (DOM). Understanding the 9% Absorption R...

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Pico-Robertson Real Estate Market in July 2024

As we dive into the real estate data for Pico-Robertson, 90035, for July 2024, we see an active and competitive market. With an absorption rate of 47%, the neighborhood is teetering on the edge of being a seller's market. Out of the 19 active listings, 9 properties sold, with an average sales price of $1,795,000 and a swift average of just 22 days on the market (DOM). This robust absorp...

Mid-Wilshire Market Update

The Mid-Wilshire neighborhood in Los Angeles has seen notable real estate activity this past July, 2024, with an absorption rate of 45%. For those unfamiliar with the term, the absorption rate is a key metric used in real estate to measure the rate at which homes are sold in a specific market over a given period. A balanced market typically has an absorption rate of around 20%, so at 45%, M...