Is Los Angeles, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Los Angeles is a seller's market

Buyer's
Market

Difference Since August 2021

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.

How much do homes in Los Angeles, CA cost?

Median Sold Price

$971,257

$637/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$85,990(+9.7%)

Key Takeaway

Homes in Los Angeles have sold for 9.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $487.1K$529.9K
+8.8%
2 $695.3K$765.7K
+10.1%
3 $885.6K$966.3K
+9.1%
4 $1.1M$1.3M
+13.0%
5+ $2.1M$2.3M
+8.3%

Median Sold Price Compared To Nearby Cities

Culver City
+21.3%
Los Angeles
+9.7%
Beverly Hills
+8.7%
Inglewood
+7.6%
West Hollywood
+7.0%

How many homes are available in Los Angeles, CA?

Number of Homes For Sale

Jul 2022Aug 2022%
7,2967,877+8.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 389398
+2.3%
2 1,7391,831
+5.3%
3 2,4852,648
+6.6%
4 1,5601,687
+8.1%
5+ 1,1231,313
+16.9%

Number of Homes Sold

Jul 2022Aug 2022%
1,5871,615+1.8%

Asking Price vs. Sold Price

671 Homes Were Sold
Under Asking

238 Homes Were Sold
At Asking

706 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Los Angeles, you could pay more than the asking price. 43.7% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
25 Days27 Days+9.0%

Breakdown of Home Sale Times

1,107 Homes Were Sold
Under 30 Days

443 Homes Were Sold
In 30 - 90 Days

65 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Los Angeles are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Los Angeles, CA

Number of homes for sale in Los Angeles, CA real estate market have reached 7,877. The number of listings in Los Angeles, CA increased by 8% between July 2022 and August 2022. The median list price of listings available in August 2022 was $971,257, while the average time on the real estate market was 27 days. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 8.8% more expensive, 2 bedrooms properties prices increased by 10.1%, 3 bedrooms properties became 9.1% more expensive, prices of 4 bedrooms properties increased by 13%, the cost of 5 bedrooms properties went up by 8.3%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes increased by 2.3%, volume of 2 bedrooms homes went up by 5.3%, the quantity of 3 bedrooms homes went up by 6.6%, 4 bedrooms homes became 8.1% more available, 5 bedrooms homes inventory increased by 16.9%. While more than 706 listings in Los Angeles, CA in August 2022 were sold above asking price, there were more than 238 listings sold at asking price, and more than 671 were sold below.

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