Is Los Angeles County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Los Angeles County has remained a Seller's Market.
Key Takeaway
Los Angeles County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Los Angeles County, CA
How much do homes in Los Angeles County, CA cost?
Median Sold Price
$874,066
$585/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Los Angeles County have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Los Angeles County was $874,066 in March 2024, up 2.2% from last year, and the median price per square foot was $585.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $499.9K | $500K | 0.0% |
| 2 Bedrooms | $694.3K | $699.9K | +0.8% |
| 3 Bedrooms | $840.7K | $849.9K | +1.1% |
| 4 Bedrooms | $1.0M | $1.0M | +1.6% |
| 5+ Bedrooms | $1.7M | $1.7M | -1.4% |
Summary: Los Angeles County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 1.4%.
Median Sold Price Compared To Nearby Counties
| Orange County | $982.8K | $1.0M | +7.6% |
| Ventura County | $816.8K | $848.3K | +3.9% |
| Los Angeles County | $855.1K | $874K | +2.2% |
| Kern County | $352.3K | $358.6K | +1.8% |
| San Bernardino County | $499.9K | $500.4K | 0.1% |
Housing Supply in Los Angeles County, CA
How many homes are available in Los Angeles County, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14,473 | 15,714 | +8.6% |
Summary: The Los Angeles County real estate market had 15,714 homes for sale in March 2024, a 8.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 737 | 839 | +13.8% |
| 2 Bedrooms | 3,007 | 3,143 | +4.5% |
| 3 Bedrooms | 4,999 | 5,256 | +5.1% |
| 4 Bedrooms | 3,186 | 3,503 | +9.9% |
| 5+ Bedrooms | 2,544 | 2,973 | +16.9% |
Summary: The Los Angeles County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 16.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,983 | 3,546 | +18.9% |
Asking Price vs. Sold Price
1,316 Homes Were Sold
Under Asking
540 Homes Were Sold
At Asking
1,690 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Los Angeles County, you could pay more than the asking price. 47.7% of homes here sold above asking price last month.
Summary: A total of 3,546 homes were sold or pending in Los Angeles County in March 2024, up by 18.9% month-over-month. Of the 3,546 sold homes, 37% were sold under asking, 15% were sold at asking, and 48% were sold over asking.
Days on Market for Los Angeles County, CA
How long does it take to sell a home in Los Angeles County, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 32 Days | -19.3% |
Summary: Homes in Los Angeles County had an average of 32 days on market in Mar 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
2,460 Homes Were Sold
Under 30 Days
713 Homes Were Sold
In 30 - 90 Days
373 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Los Angeles County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3546 homes were sold in Los Angeles County; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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