# ** The Los Angeles Real Estate Market: Homes are selling at record prices despite limited inventory. ** Prices…
# ** The Los Angeles Real Estate Market: Homes are selling at record prices despite limited inventory.
** House and apartment prices in the San Fernando Valley set new highs during June 2019 when the median price for a home was estimated at 722 $ 1,000 and the median price for an apartment was estimated at 455 $ 1,000.
Despite some cooling down in the Los Angeles real estate market, Wally (“San Fernando Valley”) has recorded record sales over the previous month.
The median price for a home purchased in Valley Los Angeles during June 2019 was $ 722, about $ 15 more than the record high last year. In comparison, the median price recorded during the month of December 2011 - the record low in the real estate market after the economic crisis - was only $ 339. **
Apartment prices also hit record highs, and the median price for condominiums was 455 $ 1,000. ** By comparison, a decade ago the median price was only $ 1,000. **
Highs have broken despite a slowdown in the market due to limited inventory, according to the Southland Regional Association of Realtors. "The mortgage interest rate remains low, which translates into greater purchasing power," explained Dan Tresiers, the union's president.
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