median, home, price, l.a. county, record, high Low Inventory Sends LA County Home Prices Soaring To $585K – CBS Los Angeles

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.

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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.

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“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.

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“There’s no inventory,” he said.