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South LA Homes: What $500K Actually Buys You

A half a million dollars is a lot of money for a house. But is that even enough to get you a home worth living in, in South LA?

This week, we’re looking at what $500,000 can get you in South LA— but instead of looking at what’s on the market, we’re looking at what actually sold around this amount. If you’ve been watching the news lately, you may know that there has been quite a bit of competition around buying homes and homes have generally been selling over listing. So the list price might not be the best indicator of what you’ll actually get. 

Looking at what has sold this past month, I’ve found that in South LA, you can get a nice home in the price range if you’re willing to be flexible. Location, amenities, and yard space are all things you’ll need to bend on. But, just a heads up, hardly anything sold for this price was on the West Side of South LA— like Leimert Park or Ladera. 

The Housing Market

So what’s there to know about the South LA Housing market? For starters, just last month in March of 2021, the median sale price was $640,000 in South LA, and a whopping 314 homes were sold that same month, according to Redfin. Though homes in South LA are staying on the market for an average of 46 days—6 days longer than homes in LA City. 

The homes we’re looking at today were sold within one month of the publishing of this video. So, with numbers aside, let’s see what some hard work, anxiety, and a 30-year mortgage can get you.

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