Is South LA, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South LA has remained a Seller's Market.
Key Takeaway
South LA is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South LA, CA
How much do homes in South LA, CA cost?
Median Sold Price
$675,000
$531/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in South LA has remained the same since last year.
Summary: The median home sold price in South LA was $675,000 in April 2024, down 0.4% from last year, and the median price per square foot was $531.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $420K | $420K | 0.0% |
| 2 Bedrooms | $580.7K | $580K | -0.1% |
| 3 Bedrooms | $686K | $686.2K | 0.0% |
| 4 Bedrooms | $755.6K | $747.9K | -1.0% |
| 5+ Bedrooms | $902.5K | $985K | +9.1% |
Summary: South LA housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.1%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Neighborhoods
| South LA | $677.9K | $675K | -0.4% |
| Harvard Park | $657.5K | $610K | -7.2% |
Housing Supply in South LA, CA
How many homes are available in South LA, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 887 | 975 | +9.9% |
Summary: The South LA real estate market had 975 homes for sale in April 2024, a 9.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 21 | +23.5% |
| 2 Bedrooms | 177 | 180 | +1.7% |
| 3 Bedrooms | 339 | 369 | +8.8% |
| 4 Bedrooms | 174 | 194 | +11.5% |
| 5+ Bedrooms | 180 | 211 | +17.2% |
Summary: The South LA housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.5%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 17.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 171 | 169 | -1.2% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
79 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South LA, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 169 homes were sold or pending in South LA in April 2024, down by 1.2% month-over-month. Of the 169 sold homes, 37% were sold under asking, 17% were sold at asking, and 47% were sold over asking.
Days on Market for South LA, CA
How long does it take to sell a home in South LA, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 45 Days | -1.9% |
Summary: Homes in South LA had an average of 45 days on market in Apr 2024, down by 1.9% compared to last year.
Breakdown of Home Sale Times
96 Homes Were Sold
Under 30 Days
50 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South LA are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 169 homes were sold in South LA; 57% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 14% 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.