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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Los Angeles County is a seller's market

Buyer's
Market

Difference Since January 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

$861,302

$580/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$817(-0.1%)

Key Takeaway

The sold price of homes in Los Angeles County has remained the same since last year.

Summary: The median home sold price in Los Angeles County was $861,302 in January 2024, down 0.1% from last year, and the median price per square foot was $580.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $504.1K$498.9K
-1.0%
2 $700K$692.5K
-1.1%
3 $849.9K$837K
-1.5%
4 $1.0M$1.0M
-0.8%
5+ $1.7M$1.7M
-0.5%

Summary: Los Angeles County housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 0.5%.

Median Sold Price Compared To Nearby Counties

Orange County
+4.1%
Ventura County
+0.9%
San Bernardino County
0.0%
Los Angeles County
-0.1%

Housing Supply in Los Angeles County, CA

How many homes are available in Los Angeles County, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
12,42613,630+9.7%

Summary: The Los Angeles County real estate market had 13,630 homes for sale in January 2024, a 9.7% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 596715
+20.0%
2 2,5632,775
+8.3%
3 4,3174,588
+6.3%
4 2,7582,972
+7.8%
5+ 2,1922,580
+17.7%

Summary: The Los Angeles County housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 17.7%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
3,1782,699-15.1%

Asking Price vs. Sold Price

1,253 Homes Were Sold
Under Asking

415 Homes Were Sold
At Asking

1,031 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Los Angeles County, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.

Summary: A total of 2,699 homes were sold or pending in Los Angeles County in January 2024, down by 15.1% month-over-month. Of the 2,699 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% 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

Jan 2023Jan 2024CHANGE
44 Days37 Days-16.4%

Summary: Homes in Los Angeles County had an average of 37 days on market in Jan 2024, down by 16.4% compared to last year.

Breakdown of Home Sale Times

1,561 Homes Were Sold
Under 30 Days

902 Homes Were Sold
In 30 - 90 Days

236 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 2699 homes were sold in Los Angeles County; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

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

Report Updated 21 Days Ago

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