I have been thinking about buying residential property in Los Angeles or Seattle or Dallas. I just went and looked six places today (all condos and one rambler) in Los Angeles.
Here are some of the differences:
- Los Angeles
- Median price: $685,000
- Median price per square foot: $407
- Median sale price vs list price: 100.4% (wow!)
- Average # of offers: 4.6
- Average down payment: 27.8%
- Dallas
- Median price: $250,000
- Average # of offers: 1.3
- Median price per square foot: $133
- Average down payment 16.5%
- Median Sale vs List price 96.9%
- Seattle
- Median price: $475,000
- Median price per square foot: $338
- Median sale versus list price: 100.6%
- Average # of offers 4.3
- Average down payment 20%