Is Los Angeles, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Los Angeles has remained a Seller's Market.
Housing Prices in Los Angeles, CA
How much do homes in Los Angeles, CA cost?
Median Sold Price
$976,303
$625/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Los Angeles was $976,303 in February 2024, down 1.7% from last year, and the median price per square foot was $625.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $529.9K | $519.2K | -2.0% |
2 Bedrooms | $767.7K | $749.7K | -2.3% |
3 Bedrooms | $972.6K | $940.1K | -3.3% |
4 Bedrooms | $1.3M | $1.2M | -2.6% |
5+ Bedrooms | $2.3M | $2.0M | -9.5% |
Summary: Los Angeles housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 9.5%.
Median Sold Price Compared To Nearby Cities
Culver City | $1.1M | $1.3M | +11.4% |
West Hollywood | $1.1M | $1.2M | +9.7% |
Los Angeles | $992.9K | $976.3K | -1.7% |
Inglewood | $730.5K | $705.9K | -3.4% |
Beverly Hills | $3.3M | $3.1M | -5.6% |
Housing Supply in Los Angeles, CA
How many homes are available in Los Angeles, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6,053 | 6,649 | +9.8% |
Summary: The Los Angeles real estate market had 6,649 homes for sale in February 2024, a 9.8% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 379 | 408 | +7.7% |
2 Bedrooms | 1,312 | 1,414 | +7.8% |
3 Bedrooms | 1,820 | 1,985 | +9.1% |
4 Bedrooms | 1,224 | 1,353 | +10.5% |
5+ Bedrooms | 1,318 | 1,489 | +13.0% |
Summary: The Los Angeles housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 13%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,092 | 1,190 | +9.0% |
Asking Price vs. Sold Price
510 Homes Were Sold
Under Asking
190 Homes Were Sold
At Asking
490 Homes Were Sold
Over Asking
Summary: A total of 1,190 homes were sold or pending in Los Angeles in February 2024, up by 9.0% month-over-month. Of the 1,190 sold homes, 43% were sold under asking, 16% were sold at asking, and 41% were sold over asking.
Days on Market for Los Angeles, CA
How long does it take to sell a home in Los Angeles, CA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
43 Days | 39 Days | -10.1% |
Summary: Homes in Los Angeles had an average of 39 days on market in Feb 2024, down by 10.1% compared to last year.
Breakdown of Home Sale Times
738 Homes Were Sold
Under 30 Days
291 Homes Were Sold
In 30 - 90 Days
161 Homes Were Sold
Over 90 Days
Summary: During February 2024, 1190 homes were sold in Los Angeles; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.