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Elliman Report: Los Angeles Sales 2Q 2015

The Greater Los Angeles housing market showed record prices, more sales activity along with faster marketing times and less negotiability. Median sales price increased 4.8% to $938,000 from the prior year quarter, a new record for the 11 years the metrics have been tracked. Average sales price expanded 3.3% to a record $1,464,325 and average price per square foot rose 3.6% to a record of $745 respectively from the same period last year. After five consecutive quarters of year-over-year declines, the number of sales increased for the second consecutive quarter to the second highest second quarter total in a decade…

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