A two-bedroom house in Los Angeles listed for $585,000 received 10 offers in the first week it hit the market, with the winner agreeing to pay $640,000. Meanwhile, a four-bedroom house a few miles away, priced at $3 million, sat on the market for more than a month with no offers before selling for $2.75 million in January. The divide in Los...
The housing market in the 2000s has fallen into two levels , with lower - priced properties selling quickly as prices of expensive housing increases . For example , a two - bedroom house in Los Angeles priced at $ 585,000 received ten offers in its first week on the market , while a four - bedroom house a few miles away listed at $ 3 m eventually sold for $ 5 m after sitting on the market for a month with no buyers .