Is Central LA, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Central LA was a Seller's Market.
Housing Prices in Central LA, CA
How much do homes in Central LA, CA cost?
Median Sold Price
$1,341,444
$770/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Central LA was $1,341,444 in April 2024, down 1.9% from last year, and the median price per square foot was $770.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $598K | $580K | -3.0% |
2 Bedrooms | $996.3K | $1.0M | 0.4% |
3 Bedrooms | $1.6M | $1.5M | -4.2% |
4 Bedrooms | $2.2M | $2.0M | -7.0% |
5+ Bedrooms | $2.5M | $2.3M | -10.5% |
Summary: Central LA housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 0.4%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Neighborhoods
Central LA | $1.3M | $1.3M | -1.9% |
Outpost Estates | $3.2M | $2.8M | -14.1% |
Housing Supply in Central LA, CA
How many homes are available in Central LA, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,656 | 1,955 | +18.1% |
Summary: The Central LA real estate market had 1,955 homes for sale in April 2024, a 18.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 259 | 311 | +20.1% |
2 Bedrooms | 391 | 450 | +15.1% |
3 Bedrooms | 339 | 393 | +15.9% |
4 Bedrooms | 262 | 315 | +20.2% |
5+ Bedrooms | 405 | 486 | +20.0% |
Summary: The Central LA housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.1%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
250 | 278 | +11.2% |
Asking Price vs. Sold Price
145 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
98 Homes Were Sold
Over Asking
Summary: A total of 278 homes were sold or pending in Central LA in April 2024, up by 11.2% month-over-month. Of the 278 sold homes, 52% were sold under asking, 13% were sold at asking, and 35% were sold over asking.
Days on Market for Central LA, CA
How long does it take to sell a home in Central LA, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
44 Days | 41 Days | -7.5% |
Summary: Homes in Central LA had an average of 41 days on market in Apr 2024, down by 7.5% compared to last year.
Breakdown of Home Sale Times
175 Homes Were Sold
Under 30 Days
64 Homes Were Sold
In 30 - 90 Days
39 Homes Were Sold
Over 90 Days
Summary: During April 2024, 278 homes were sold in Central LA; 63% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.