In a year-to-year comparison, December business was good, with a 4.5 percent uptick in signed contracts for single-family homes in Los Angeles County, according to a Douglas Elliman report. There were 1,611 contracts in this category last month, compared to 1,541 in December 2022.
Jonathan Miller of appraiser Miller Samuel, the report's author, said that the market is getting used to the ULA transfer tax which levies a tax on residential and commercial property sold for more than $5 million and less than $10 million. 'I think the tax is now baked into pricing,' Miller said.
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