After an 8-year bull run on real estate values from 2010 to 2018 we are now 12 months removed from the all-time highs of April 2018. Globally, we have seen a decline in overall growth, and cities like London took a dramatic hit in average sales price of approximately 25% from their all-time highs. New York, due to its oversupply of inventory coupled with the overall market stabilization, saw prices drop over 20% from their highs. The positive news for Los Angeles real estate is that it remains strong with low inventory and a minor, healthy correction of 5-10% from its highs. Los Angeles remains both a domestic and international investment hub for real estate. The market has shifted from a Seller’s market to a Buyer’s market and opportunities for long-term gains and value in premier market areas remain strong.
Our advice is to write, write, write OFFERS and see what kind of deal you can find.