Comparing housing prices in the city of Los Angeles to the average Mississauga home for sale is like comparing peanuts and elephants: they're not within the same stratosphere. However, this isn't to say that there isn't affordable housing in or near the area. Here's a quick overview of the current Los Angeles real estate market trends.

Being the second most infamous American city next to New York, the price tag for premium Los Angeles property doesn't come nearly as affordable as Pleasant Valley NY Real Estate. There are many areas, however, that are within reason for the average middle class family. For example, the current average listing price in Central Alameda is sitting at just over $181K, while North Hollywood property sits at around $252K. Other affordable neighborhoods include Panorama City, Boyle Heights, and Reseda, all listed at under $300K.

It's not until you get into the infamous areas such as Encino, Bel-Air, Studio City, and the Hollywood Hills that prices hit a far higher pay grade. Prices here range between $2.5 and $7 million dollars, making Downtown Toronto real estate prices look like dollar store savings. There are still marquee neighborhoods within reasonable value, such as Venice, listed under $750K, and West Hollywood, just over $800K.

Even with such a dynamic gap between the highest and lowest priced properties, the median selling price for the average Los Angeles home comes in close to some of the best Leslieville homes, currently rated at $299K. Unlike most areas, whose average listing price and median selling price land around $100K to $400K apart, the average listing price in L.A. is currently $1.28 million, a difference of almost $1 million. This is clearly due to the fact the affordable housing turns over significantly more than the higher priced properties.

Los Angeles doesn't have the sort of rapid transit system afforded those in the New York metropolitan area, which makes property outside that area much more appealing. Though one might assume prices outside the L.A. area would be equally affordable, guess again. Nearby cities such as Huntington Park, Maywood, and Bell Gardens sell for an average of $235K, just $60K under what the average L.A. property sells for, and when you consider transit costs, both financial and time, the difference is about as drastic as Younge Street and Merton Street condos, which is not very much at all.

Given the downward spiral of real estate during last year's economic turbulence, you may be wondering if now is the right time to buy into the region. Though values are below where they were five years ago, prices are again beginning to rise, so now is as good a time as any to take the plunge. Researching which neighborhoods are on the rise is a great way to decipher which properties will turn you a profit on resale down the road.