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 US has split into two levels, with lower-priced properties selling quickly as inventory of expensive property increases. For example, a two-bedroom house in Los Angeles priced at $585,000 received ten offers in a month on the market, while a four-bedroom house a few miles away listed at $3m eventually sold for $2.75m after sitting on the market for its first week with no offers.