Number of L.A. homes sold declines 38 percent
Monday, February 11th, 2008The median price of homes that sold in Los Angeles County in January dipped below $500,000 – the first time in more than two and a half years that the price was below that threshold. January’s median price – $496,000 – was 9.7 percent less than the same month last year, according to data provided to the Business Journal by HomeData Corp. of Melville, N.Y. It also was 3 percent lower than the previous month’s median.
What’s more, the number of homes sold declined. A total of 3,379 homes changed hands in January, 38 percent fewer than January 2007. It was less than half the number that sold two Januarys ago in the county.
investment property