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March Market Update

4 years ago nearly to the day LA & much of the world locked down in response to COVID-19 & within 2 weeks Loveland Carr, the real estate industry & all related fields were back to work serving others.

On March 15 the NAR settled a class action suit, which will change rules related to compensation – who pays & how much. Another opportunity to adapt! Practices will change to be sure & the end result will remain the same. People will still buy and sell homes. Most will want & need the guidance of a professional for emotional peace of mind and to protect their interests.

Inventory has increased & is absorbed as almost as quickly comes on, especially under $5MM (Measure ULA). While single-family home sales were a few there was a pick up in closings for duplexes (many owner/users), condos & leases.

The top sale of March was in Windsor Square at 516 S. Norton Ave at $2.625MM. Charming turnkey property on one of the most modest lots in area.

The top pending sale is 356 S. Hudson with a last list price of $17.45MM off of the original $19.5MM ask. Also turnkey, over 13,000 ft.² on 0.85 acres complete with tennis court, pool & guest house.

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