Is South LA, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South LA is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, South LA was a Seller's Market.

Key Takeaway

South LA is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in South LA, CA

How much do homes in South LA, CA cost?

Median Sold Price

$701,166

$542/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$40,769(+6.2%)

Key Takeaway

Homes in South LA have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in South LA was $701,166 in September 2024, up 6.2% from last year, and the median price per square foot was $542.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $405K$490K
+21.0%
2 $566.5K$599.9K
+5.9%
3 $668.9K$709.6K
+6.1%
4 $747.4K$750K
0.3%
5+ $920K$1.0M
+10.9%

Summary: South LA housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 10.9%.

Housing Supply in South LA, CA

How many homes are available in South LA, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1,0801,102+2.0%

Summary: The South LA real estate market had 1,102 homes for sale in September 2024, a 2.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 2426
+8.3%
2 229212
-7.4%
3 385390
+1.3%
4 205209
+2.0%
5+ 237265
+11.8%

Summary: The South LA housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 11.8%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
196155-20.9%

Asking Price vs. Sold Price

66 Homes Were Sold
Under Asking

28 Homes Were Sold
At Asking

61 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South LA, you may be able to get a good deal. 42.6% of homes here sold below asking price last month.

Summary: A total of 155 homes were sold or pending in South LA in September 2024, down by 20.9% month-over-month. Of the 155 sold homes, 43% were sold under asking, 18% were sold at asking, and 39% 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

Sep 2023Sep 2024CHANGE
39 Days39 Days-1.1%

Summary: Homes in South LA had an average of 39 days on market in Sep 2024, down by 1.1% compared to last year.

Breakdown of Home Sale Times

86 Homes Were Sold
Under 30 Days

49 Homes Were Sold
In 30 - 90 Days

20 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 155 homes were sold in South LA; 55% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 13% 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 30 Days Ago

Newest Listings in South LA, CA

Nearby Markets to South LA, CA