Is Los Angeles, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2022
Since last year, Los Angeles has remained a Seller's Market.
Key Takeaway
Los Angeles is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Los Angeles, CA cost?
Median Sold Price
$964,087
$614/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2022
Key Takeaway
Homes in Los Angeles have sold for 1.4% less than they did a year ago.
Summary: The median home sold price in Los Angeles was $964,087 in September 2023, down 1.4% from last year, and the median price per square foot was $614.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2022 | Sep 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $524.7K | $515.2K | -1.8% |
| 2 Bedrooms | $768.9K | $737.9K | -4.0% |
| 3 Bedrooms | $969.8K | $927.7K | -4.3% |
| 4 Bedrooms | $1.3M | $1.2M | -4.3% |
| 5+ Bedrooms | $2.3M | $2.0M | -10.0% |
Summary: Los Angeles housing prices by bedroom type for September 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 10%.
Median Sold Price Compared To Nearby Cities
| West Hollywood | $1.0M | $1.2M | +13.0% |
| Culver City | $1.1M | $1.2M | +9.1% |
| Beverly Hills | $3.3M | $3.4M | +5.6% |
| Inglewood | $706.7K | $720K | +1.9% |
| Los Angeles | $977.8K | $964K | -1.4% |
Housing Supply
How many homes are available in Los Angeles, CA?
Number of Homes For Sale
| Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|
| 6,903 | 7,138 | +3.4% |
Summary: The Los Angeles real estate market had 7,138 homes for sale in September 2023, a 3.4% increase compared to August 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 401 | 430 | +7.2% |
| 2 Bedrooms | 1,597 | 1,590 | -0.4% |
| 3 Bedrooms | 2,113 | 2,088 | -1.2% |
| 4 Bedrooms | 1,332 | 1,415 | +6.2% |
| 5+ Bedrooms | 1,460 | 1,615 | +10.6% |
Summary: The Los Angeles housing inventory by bedroom type for September 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 7.2%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 10.6%.
Number of Homes Sold
| Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|
| 1,710 | 1,313 | -23.2% |
Asking Price vs. Sold Price
542 Homes Were Sold
Under Asking
165 Homes Were Sold
At Asking
606 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Los Angeles, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 1,313 homes were sold or pending in Los Angeles in September 2023, down by 23.2% month-over-month. Of the 1,313 sold homes, 41% were sold under asking, 13% were sold at asking, and 46% were sold over asking.
Days on Market
How long does it take to sell a home in Los Angeles, CA?
Average Sale Time
| Sep 2022 | Sep 2023 | CHANGE |
|---|---|---|
| 32 Days | 31 Days | -2.9% |
Summary: Homes in Los Angeles had an average of 31 days on market in Sep 2023, down by 2.9% compared to last year.
Breakdown of Home Sale Times
876 Homes Were Sold
Under 30 Days
337 Homes Were Sold
In 30 - 90 Days
100 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Los Angeles are selling fast, if you're buying plan to act quickly.
Summary: During September 2023, 1313 homes were sold in Los Angeles; 67% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Disclaimer: Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Copyright© 2023 Houston Realtors Information Service, Inc. All rights reserved.