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You guys, we did it. We survived the arctic tundra and made it to the Los Angeles that was promised. Now that we’re finally getting some consistent sunshine, there are a lot of amazing outdoor activities and events to enjoy. LA is back on its peak rooftop and patio game, especially now that the views are greener than ever. Since this city is now experiencing a skincare paradigm shift, don’t forget your sunscreen, non-plastic water bottles, and floppy hats!
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The median list price for homes in Los Angeles is $1,600,000. Our Market Action Index (MAI) is at 42, which is slightly lower than last month's 43. This means the market is still very active but has cooled just a touch.
Inventory has increased to 1,321 homes available for sale. Despite this rise in inventory, we are still in a Seller's Market, which means there’s strong demand for homes. The market has hit a relative balance between the number of homes being sold and the number available. However, since inventory remains low, sellers still have the upper hand.
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Keep an eye on the Market Action Index. If it starts to increase again, we can expect home prices to begin rising once more. For now, the market is stable, but any uptick in demand could push prices higher.
If you have any questions or need more detailed insights, feel free to reach out. Happy buying and selling!
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Real Estate Agent & Advisor
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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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