Is West Los Angeles, 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, West Los Angeles has remained a Seller's Market.
Key Takeaway
West Los Angeles is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Los Angeles, CA
How much do homes in West Los Angeles, CA cost?
Median Sold Price
$1,600,000
$777/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Los Angeles have sold for 34.2% more than they did a year ago.
Summary: The median home sold price in West Los Angeles was $1,600,000 in April 2024, up 34.2% from last year, and the median price per square foot was $777.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $609K | $582.2K | -4.4% |
| 2 Bedrooms | $1.0M | $990K | -3.4% |
| 3 Bedrooms | $1.5M | $1.8M | +21.4% |
| 4 Bedrooms | $2.2M | $2.7M | +19.9% |
| 5+ Bedrooms | $3.5M | $3.5M | 0.4% |
Summary: West Los Angeles housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Neighborhoods
| West Los Angeles | $1.1M | $1.6M | +34.2% |
| Westwood | $1.2M | $1.2M | +6.8% |
| Rancho Park | $1.7M | $1.7M | +3.2% |
| Cheviot Hills | $2.8M | $2.7M | -4.9% |
| Century City | $1.4M | $1.2M | -9.3% |
Housing Supply in West Los Angeles, CA
How many homes are available in West Los Angeles, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 57 | +14.0% |
Summary: The West Los Angeles real estate market had 57 homes for sale in April 2024, a 14.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 21 | 27 | +28.6% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The West Los Angeles housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 16 | +100.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Los Angeles, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in West Los Angeles in April 2024, up by 100.0% month-over-month. Of the 16 sold homes, 69% were sold under asking, 6% were sold at asking, and 25% were sold over asking.
Days on Market for West Los Angeles, CA
How long does it take to sell a home in West Los Angeles, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 45 Days | -2.0% |
Summary: Homes in West Los Angeles had an average of 45 days on market in Apr 2024, down by 2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Los Angeles are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in West Los Angeles; 56% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 6% 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.