We are heading towards a Shakespearean tragedy here, extreme shortage of inventory.
The Los Angeles housing market is not going to recover if there is nothing for buyers to purchase. Getting a loan is not a slam dunk, but mortgage rates are at an all time low and more than half of California home buyers can afford the median price in the state.
So what is causing the anemic inventory?
The expected shadow inventory of homes hasn’t happened. Less people are willing to short sell their homes. Even thought they may still be upside down on their mortgages, they see hope in the rising prices and, if they can still afford to make payments, they are waiting for further price increases. Banks are also willing to wait out the market until their inventory increases in price.
And the government is helping fuel this optimism by keeping mortgage rates low and providing assistance with the Housing Affordability Refinance Program (HARP), Home Affordable Modification Program (HAMP) and the like.
The Fiserv Case-Shiller index predicts that home prices will rise at a steady rate of 3.3% over the next four years. But nothing is going to rise if there is nothing selling.
It is extremely frustrating out their for Los Angeles home buyers. If you are ready to sell your Los Angeles home now is a great time. Priced right your home will probably receive multiple offers and sell quickly. Please help. Your contributions will be greatly appreciated.
New homes on the market this week in Los Angeles
Condo
Land
Rental
Single Family- MLS® #: 22-164533
- 10847 Bellagio Rd
- Los Angeles CA
- $349,995,000
- 9 Bed | 16 Bath | 20,000 SqFt
- 1.03 Acres
- MLS® #: 22-151323
- 33550 PACIFIC COAST HWY
- MALIBU CA 90265
- $225,000,000
- 16 Bed | 22 Bath | 25,025 SqFt
- 4.81 Acres
- MLS® #: 22-125547
- 594 S MAPLETON DR
- LOS ANGELES CA 90024
- $165,000,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- MLS® #: 22-166189
- 10721 Stradella CT
- LOS ANGELES CA 90077
- $150,000,000
- 9 Bed | 14 Bath | 20,841 SqFt
- 1.15 Acres
- MLS® #: 22-216345
- 1200 Bel Air Rd
- Los Angeles CA
- $139,000,000
- 12 Bed | 17 Bath | 0 SqFt
- 2.08 Acres
- MLS® #: 22-210429
- 28060 Sea Lane Dr
- Malibu CA
- $110,000,000
- 8 Bed | 13 Bath | 0 SqFt
- 6.71 Acres
- MLS® #: 21-791862
- 1210 Benedict Canyon Dr
- Beverly Hills CA 90210
- $100,000,000
- 11 Bed | 16 Bath | 27,150 SqFt
- 2.69 Acres
- MLS® #: 21-101899
- 1420 Davies Dr
- Beverly Hills CA 90210
- $87,000,000
- 8 Bed | 14 Bath | 21,800 SqFt
- 7.8 Acres
- MLS® #: 22-163315
- 2571 WALLINGFORD DR
- BEVERLY HILLS CA 90210
- $85,000,000
- 12 Bed | 24 Bath | 38,000 SqFt
- 5.2 Acres
- MLS® #: 22-154733
- 67 BEVERLY PARK CT 67,68, 69
- BEVERLY HILLS CA
- $79,500,000
- 12 Bed | 18 Bath | 31,608 SqFt
- 9.85 Acres
- MLS® #: 22-163889
- 0 PERUGIA WAY
- BEL AIR CA 90077
- $77,000,000
- 12 Bed | 18 Bath | 28,720 SqFt
- 2.22 Acres
- MLS® #: 22-181525
- 9000 W 3rd St Penthouse
- Los Angeles CA 90048
- $75,000,000
- 0 Bed | 0 Bath | 12,700 SqFt
- 1.29 Acres
- MLS® #: 22-215267
- 32300 Pacific Coast Hwy
- Malibu CA
- $72,000,000
- 8 Bed | 10 Bath | 10,438 SqFt
- 2.79 Acres
- MLS® #: 22-161119
- 24186 CASE CT
- MALIBU CA 90265
- $69,995,000
- 5 Bed | 8 Bath | 10,527 SqFt
- 2.66 Acres
- MLS® #: 22-152527
- 1525 San Vicente Blvd
- Santa Monica CA
- $69,000,000
- 7 Bed | 13 Bath | 22,640 SqFt
- 1.61 Acres
- MLS® #: 22-167741
- 1005 N Alpine DR
- BEVERLY HILLS CA
- $65,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- MLS® #: 21-705644
- 133 S Mapleton DR
- LOS ANGELES CA
- $65,000,000
- 9 Bed | 14 Bath | 30,000 SqFt
- 1.1 Acres
- MLS® #: 22-174347
- 10250 W Sunset Blvd
- Los Angeles CA
- $65,000,000
- 17 Bed | 25 Bath | 29,108 SqFt
- 2.81 Acres
- MLS® #: 22-216111
- 271 S Mapleton Dr
- Los Angeles CA
- $63,000,000
- 8 Bed | 12 Bath | 31,450 SqFt
- 1.4 Acres
- MLS® #: 22-183864
- 24188 Case Ct
- Malibu CA 90265
- $60,000,000
- 4 Bed | 7 Bath | 10,555 SqFt
- 3.45 Acres
- MLS® #: 22-136367
- 1 Senderos Canyon
- BEL AIR CA
- $59,995,000
- Bed | 0 Bath | 0 SqFt
- 263 Acres
- MLS® #: 22-193495
- 10066 Cielo Dr
- Beverly Hills CA
- $59,995,000
- 9 Bed | 18 Bath | 21,000 SqFt
- 3.6 Acres
- MLS® #: 22-205135
- 300 STONE CANYON RD
- LOS ANGELES CA
- $59,000,000
- 8 Bed | 13 Bath | 17,600 SqFt
- 2 Acres
- MLS® #: 22-163783
- 22446 PACIFIC COAST HWY
- MALIBU CA 90265
- $59,000,000
- 6 Bed | 8 Bath | 6,125 SqFt
- 0.38 Acres
- MLS® #: 22-213713
- 11870 Ellice St
- Malibu CA
- $58,808,000
- 6 Bed | 10 Bath | 20,000 SqFt
- 1 Acres
- MLS® #: 22-161345
- 755 SARBONNE RD
- LOS ANGELES CA
- $58,000,000
- 6 Bed | 10 Bath | 15,000 SqFt
- 1.04 Acres
- MLS® #: 22-169233
- 1251 Tower Grove Dr
- Beverly Hills CA 90210
- $58,000,000
- 9 Bed | 12 Bath | 14,500 SqFt
- 1.11 Acres
- MLS® #: 22-177525
- 1601 CASALE Rd
- Pacific Palisades CA
- $57,500,000
- 7 Bed | 11 Bath | 13,653 SqFt
- 0.64 Acres
- MLS® #: 22-203545
- 24824 Pacific Coast Hwy
- Malibu CA 90265
- $55,700,000
- 7 Bed | 11 Bath | 6,742 SqFt
- 1.55 Acres
- MLS® #: 22-208983
- 28034 Sea Lane Dr
- Malibu CA 90265
- $55,000,000
- 3 Bed | 4 Bath | 5,507 SqFt
- 0.72 Acres
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The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).
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