Watch CBS News

Is This What $585K Looks Like? Low Inventory Sends Median LA County Home Prices Soaring To Record High

LOS ANGELES (CBSLA) — If you've been looking to buy a house in Southern California, you know the deal.

The median price for all homes sold in L.A. County last month soared to $585,000 — an all-time record high.

So what might you get for $585,000 in L.A. County right now? A "cozy" two-bedroom, one-bathroom 874-square-foot home in Burbank, for starters; a fixer-upper in Lawndale; or a move-in ready home in Downey, CBS2/KCAL9's Crystal Cruz reports.

Cruz spoke with the agent of a gated four-bedroom, two-bathroom North Hollywood home he suspects will fly off the market, receiving multiple offers despite sitting close to its neighbors and off a back alley.

"If you list a property at the right price, it's going to sell quick," realtor Ramon Castro said.

What's driving prices so high? Castro put it simply.

"There's no inventory," he said.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.