Hello Los Angeles home buyers and sellers! Here’s a simple breakdown of what’s happening in the market this week:
The median list price for homes in Los Angeles is $1,649,000. The Market Action Index (MAI), which helps us understand the balance between buyers and sellers, has slightly decreased from 39 last month to 38 this week. This small drop shows that the market is cooling off a bit.
Inventory, or the number of homes available for sale, has increased to 1,562. With more homes on the market, prices have plateaued, meaning they’ve stopped going up for now.
Even though the MAI is decreasing, we’re still in a Seller’s Market. This means that sellers generally have the upper hand, but the balance is shifting slightly.
Here’s what to keep an eye on:
