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
Single Family
Condo
Rental
Land
- MLS® #: 25497697
- 607 Siena Way
- Bel Air CA
- $177,000,000
- 8 Bed | 25 Bath | 35,000 SqFt
- 1.22 Acres
- MLS® #: 24-449959
- 1261 Angelo Dr
- Beverly Hills CA
- $175,000,000
- 16 Bed | 27 Bath | 50,000 SqFt
- 6.03 Acres
- MLS® #: 25516441
- 10644 Bellagio Rd
- Los Angeles CA
- $175,000,000
- 7 Bed | 20 Bath | 0 SqFt
- 8.4 Acres
- MLS® #: 23-231909
- 594 S Mapleton Dr
- Los Angeles CA
- $137,500,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- MLS® #: 23-321859
- 9505 Gloaming
- Beverly Hills CA
- $126,000,000
- 8 Bed | 20 Bath | 30,610 SqFt
- 2.19 Acres
- MLS® #: 25511979
- 10936 Chalon Rd
- Los Angeles CA
- $120,000,000
- 9 Bed | 13 Bath | 14,941 SqFt
- 1.65 Acres
- MLS® #: 25497825
- 729 Bel Air Rd
- Los Angeles CA
- $120,000,000
- 9 Bed | 20 Bath | 18,784 SqFt
- 3.32 Acres
- MLS® #: 25520563
- 1200 Bel Air Rd
- Los Angeles CA
- $118,000,000
- 12 Bed | 17 Bath | 0 SqFt
- 2.08 Acres
- MLS® #: 24-412907
- 1420 Davies Dr
- Beverly Hills CA
- $77,000,000
- 8 Bed | 14 Bath | 21,800 SqFt
- 7.8 Acres
- MLS® #: 25-482497
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $75,000,000
- 11 Bed | 20 Bath | 27,000 SqFt
- 2.69 Acres
- MLS® #: 25520565
- 9330 Flicker Way
- Los Angeles CA
- $68,000,000
- 9 Bed | 14 Bath | 0 SqFt
- 0.9 Acres
- MLS® #: 25508633
- 71 Beverly Park
- Beverly Hills CA
- $68,000,000
- 12 Bed | 20 Bath | 30,500 SqFt
- 6.14 Acres
- MLS® #: 24-440479
- 22368 Pacific Coast Hwy
- Malibu CA
- $65,000,000
- 9 Bed | 14 Bath | 11,074 SqFt
- 0.59 Acres
- MLS® #: 24-386085
- 107 Delfern Dr
- Los Angeles CA
- $65,000,000
- 10 Bed | 19 Bath | 21,000 SqFt
- 1.88 Acres
- MLS® #: 25494997
- 9214 Nightingale Dr
- West Hollywood CA
- $63,000,000
- 5 Bed | 7 Bath | 13,870 SqFt
- 0.52 Acres
- MLS® #: 24-437007
- 200 S Mapleton Dr
- Los Angeles CA
- $61,500,000
- 10 Bed | 13 Bath | 17,000 SqFt
- 1.3 Acres
- MLS® #: 25536281
- 1101 Bel Air Pl
- Los Angeles CA
- $59,995,000
- 5 Bed | 17 Bath | 24,920 SqFt
- 2.33 Acres
- MLS® #: 24-413783
- 2571 Wallingford Dr
- Beverly Hills CA
- $59,950,000
- 12 Bed | 24 Bath | 38,000 SqFt
- 5.2 Acres
- MLS® #: 24-463937
- 133 S Mapleton DR
- LOS ANGELES CA
- $59,900,000
- 9 Bed | 14 Bath | 26,522 SqFt
- 1.1 Acres
- MLS® #: 25-483555
- 616 N Beverly Dr
- Beverly Hills CA
- $59,500,000
- 7 Bed | 14 Bath | 20,520 SqFt
- 0.91 Acres
- MLS® #: 24-468303
- 29130 Cliffside Dr
- Malibu CA
- $58,000,000
- 5 Bed | 8 Bath | 8,000 SqFt
- 1.01 Acres
- MLS® #: 25521973
- 1005 N Alpine Dr
- Beverly Hills CA
- $55,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- MLS® #: 25538697
- 1129 Tower Rd
- Beverly Hills CA
- $55,000,000
- 7 Bed | 14 Bath | 15,000 SqFt
- 1.35 Acres
- MLS® #: 25-476043
- 1108 Wallace Rdg
- Beverly Hills CA
- $53,000,000
- 7 Bed | 14 Bath | 18,169 SqFt
- 0.57 Acres
- MLS® #: 25499497
- 28820 Cliffside Dr
- Malibu CA
- $50,000,000
- Bed | 0 Bath | 0 SqFt
- 1.37 Acres
- MLS® #: 25540667
- 684 Firth Ave
- Los Angeles CA
- $49,999,999
- 6 Bed | 10 Bath | 0 SqFt
- 1.93 Acres
- MLS® #: 25517025
- 10066 Cielo Dr
- Beverly Hills CA
- $49,995,000
- 9 Bed | 18 Bath | 21,000 SqFt
- 3.6 Acres
- MLS® #: 25531613
- 12705 Chalon Rd
- Los Angeles CA
- $49,500,000
- 7 Bed | 11 Bath | 11,449 SqFt
- 2.47 Acres
- MLS® #: 25496269
- 2930 Sweetwater Mesa Rd
- Malibu CA
- $48,000,000
- 6 Bed | 11 Bath | 10,057 SqFt
- 35.32 Acres
- MLS® #: 24-418999
- 780 Tortuoso Way
- Bel Air CA
- $47,000,000
- Bed | 0 Bath | 0 SqFt
- 4.56 Acres
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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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