The beginning of the year in the local residential housing market is getting rave reviews, and at least one realtor is looking for a repeat of last year’s strong sales patterns.
“Consumer confidence is up,” said Candace Kentopian, a realtor with Coldwell Banker in Los Feliz. “The economy seems to be at a stable place that we have been waiting for.”
Dorothy Carter, with Keller Williams’s luxury home division in Los Feliz, says “2014 opened with a bang, much like the previous year where we had a strong spring and then a very good rest of the year. My expectation is that we will follow that same pattern.”
According to DQNews, of La Jolla, CA, in the 90027 zip code, six houses were sold in January for a median price of $1.1 million, an increase of 25.7% year-over-year. Two condos sold for a median price of $499,000, up 10.9% year-over-year.
In Silver Lake (90039) 13 houses sold in January at a median price of $705,000, up 23.7% from the same time last year. Two condos sold at a median price of $519,000, down 50.6% year-over-year, likely a statistical aberration.
In Echo Park (90026), eight homes sold for a $684,000 median, up 10.3% year-over-year. No condominium information was available.
In Hollywood’s 90068 zip code, 22 houses were sold in January at a median price of $1.225 million, up a whopping 94.4%. Two condos were sold for a median of $384,000, down 4.7% year-to-year.