Median home price: $547,000
This home's price: $569,000
Bedrooms: 3
Baths: 3
Square footage: N/A
Details: Prices in Los Angeles exploded in the past seven years to the point where the cost of home ownership has exceeded the incomes of many of its citizens. The market here now seems poised to stagnate as earnings play catch-up.
Listing agent Polly Salas believes houses in this neighborhood, Highland Park, will retain their value better than most. "There has not been a lot of investor buying here," she says. "It's a place where people have sold a little home and are trading up to a bigger one."
There's not a lot of inventory either and, with LA's population continuing its steep gains, the number of houses available for sale should continue to be quite tight, which should prevent prices from falling too precipitously.
Brokerage: Century 21 Arroyo Seco
Los Angeles, California
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