Thinking about selling your Mississauga real estate and moving to Los Angeles? You're not the only one. The population of Los Angeles increases by thousands each year as more and more people come to the city looking to make their mark. Some are immigrants newly arrived in the United States, others are established career people moving up on their company's promotional ladder, others are just starting out in the entertainment industry and hoping to catch their break in the city. Whatever your reason for moving, it's wise to learn a little about the city's real estate market first. We can help you there.

Costs

Housing in Los Angeles is expensive - even more expensive than Toronto waterfront condos, which often list in the millions of dollars. The average listing price for a home in LA as of early December 2009 was $1,200,000. The median (or middling) sale price was significantly lower, only $300,000. To figure out how much you personally can expect to pay, multiply the average price per square foot (which is $260) by the size of the living space you think you'll need.

Trends

It's no secret that our country's real estate markets have suffered from the combined effects of the sub prime mortgage crisis and the recession. In the case of Los Angeles, the sale values for this year have continued to drop, decreasing 18% since last year, unlike Edmonton homes, which are already on the road to recovery. The coming months will tell if the values drop will continue into 2010, but so far values have increased ever so lightly in the last few weeks.

Neighborhoods

Los Angeles has a wide variety of neighborhoods, from economically depressed areas suffering from gang violence to exclusive gated subdivisions populated by reclusive celebrities. The difference in values between them can often be similar to the price differential between Lagrange, NY homes and a Barbie Dream Houses. The most popular neighborhoods, however, range from Bel Air at $6,140,000 to Vermont Harbour at $280,000.

Home Styles

If you're coming off of Ajax real estate listings, you'll find that the single family suburb homes here are markedly different in style. While more northerly cities favor the McMansion style, Angelenos prefer Spanish Colonial, as it's more appropriate for the landscape and climate. Of course, there are very few detached homes in the denser urban areas. These are jam packed with gleaming glass and metal condo and apartment buildings.