$9,916 Closing Credit*
$835,000
909 SqFt
1 Bed
•1 Full Bath, 1 Partial
Vincent Urena, Listing Office: Engel & Volkers Beverly Hills
Is Downtown, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Downtown was a Neutral Market.
Key Takeaway
Downtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown, CA
How much do homes in Downtown, CA cost?
Median Sold Price
$615,000
$629/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$8,000(-1.3%)
Key Takeaway
Homes in Downtown have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Downtown was $615,000 in November 2024, down 1.3% from last year, and the median price per square foot was $629.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $535K | $539.9K | +0.9% |
| 2 Bedrooms | $835K | $749.5K | -10.2% |
| 3 Bedrooms | $1.1M | $2.4M | +121.1% |
| 4 Bedrooms | - | $4.5M | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes increased by 121.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Historic Core | $496.8K | $505K | +1.6% |
| Downtown | $623K | $615K | -1.3% |
Housing Supply in Downtown, CA
How many homes are available in Downtown, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 238 | 260 | +9.2% |
Summary: The Downtown real estate market had 260 homes for sale in November 2024, a 9.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 135 | 149 | +10.4% |
| 2 Bedrooms | 93 | 101 | +8.6% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 8.6%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Downtown in November 2024, down by 33.3% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Downtown, CA
How long does it take to sell a home in Downtown, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 97 Days | 62 Days | -35.8% |
Summary: Homes in Downtown had an average of 62 days on market in Nov 2024, down by 35.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown has remained consistent over time.
Summary: During November 2024, 10 homes were sold in Downtown; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.