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Happy New Year!
As we step into 2025, it’s the perfect time to embrace fresh beginnings and set the tone for an exciting year ahead. Whether you're settling back into a routine or still soaking up the holidays, let’s start the year with positivity and something to get excited about.
Here’s to a great start!
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The median list price for homes in Los Angeles is $1,499,999. The Market Action Index (MAI), a measure of supply and demand, is sitting at 35, which is slightly down from last month's 36. What does that mean? Let's break it down.
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Seller's Market: With a lower inventory of 1,536 homes, there aren’t enough listings to meet buyer demand. This keeps the market in favor of sellers, meaning homes are still selling relatively quickly.
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Market Stability: Recently, the balance between sales and available inventory has reached a "stasis point." In simpler terms, the market isn’t drastically shifting—yet.
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What to Watch: The MAI is an important number to keep an eye on. If it rises, signaling more buyer activity relative to inventory, we could see prices begin to climb again.
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In summary, the LA market remains competitive for buyers, and current conditions favor sellers. If you’re thinking about making a move, now’s a great time to consult a professional to strategize your next steps!
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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