Is 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, Los Angeles has remained a Seller's Market.
Key Takeaway
Los Angeles is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Los Angeles, CA
How much do homes in Los Angeles, CA cost?
Median Sold Price
$986,427
$631/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Los Angeles have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Los Angeles was $986,427 in April 2024, up 0.8% from last year, and the median price per square foot was $631.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $525K | $520K | -1.0% |
| 2 Bedrooms | $750.9K | $752.5K | 0.2% |
| 3 Bedrooms | $951.2K | $949.8K | -0.1% |
| 4 Bedrooms | $1.2M | $1.2M | -0.4% |
| 5+ Bedrooms | $2.2M | $2.0M | -12.2% |
Summary: Los Angeles housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 0.2%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 12.2%.
Median Sold Price Compared To Nearby Cities
| Culver City | $1.2M | $1.2M | +5.3% |
| Los Angeles | $978.8K | $986.4K | +0.8% |
| Inglewood | $734.9K | $706.9K | -3.8% |
| West Hollywood | $1.1M | $1.1M | -4.0% |
| Beverly Hills | $3.5M | $3.1M | -10.3% |
Housing Supply in Los Angeles, CA
How many homes are available in Los Angeles, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6,809 | 7,822 | +14.9% |
Summary: The Los Angeles real estate market had 7,822 homes for sale in April 2024, a 14.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 422 | 493 | +16.8% |
| 2 Bedrooms | 1,424 | 1,629 | +14.4% |
| 3 Bedrooms | 2,099 | 2,292 | +9.2% |
| 4 Bedrooms | 1,376 | 1,603 | +16.5% |
| 5+ Bedrooms | 1,488 | 1,805 | +21.3% |
Summary: The Los Angeles housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.8%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 21.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,462 | 1,534 | +4.9% |
Asking Price vs. Sold Price
629 Homes Were Sold
Under Asking
204 Homes Were Sold
At Asking
701 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Los Angeles, you could pay more than the asking price. 45.7% of homes here sold above asking price last month.
Summary: A total of 1,534 homes were sold or pending in Los Angeles in April 2024, up by 4.9% month-over-month. Of the 1,534 sold homes, 41% were sold under asking, 13% were sold at asking, and 46% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 34 Days | -7.9% |
Summary: Homes in Los Angeles had an average of 34 days on market in Apr 2024, down by 7.9% compared to last year.
Breakdown of Home Sale Times
1,026 Homes Were Sold
Under 30 Days
353 Homes Were Sold
In 30 - 90 Days
155 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Los Angeles are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1534 homes were sold in Los Angeles; 67% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 10% 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.