Good News and Bad News - Los Angeles Single Family Homes Market Trends - First Quarter 2011

The Combined LA/Westside Multiple Listing Service has published the graph below indicating the first quarter market trends for Single Family Homes in Los Angeles from Downtown to the Ocean.

There's good news and bad news.

The good news is that Median Prices has risen consistently from 2009 to 2011 - up from $473,750 to $728,667.

However, the bad news is that despite this increase in Median Prices, actual Sales Volume in dollar terms is down from the increase seen in 2010 from 2009. Also disconcerting is that the number of Sold Listings is down from 2010, and even lower than the same period in 2009.

It will be interesting to watch how the second quarter of 2011 market activity fares when compared to 2010 and 2009.

Information obtained from the MLS is deemed reliable, but not guaranteed.