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Happy November! As the days get shorter and the air grows crisp, it's the perfect time to reflect, relax, and enjoy the politically divided landscape and the collective American stomach ache. Hopefully, the elections lead to a better and healthier tomorrow for everyone.
Stress aside, I’ve got some great stuff in store for you this month. This is as close as it gets to a season in LA so let’s get out there and enjoy the occasional crunchy leaf.
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The median list price for homes in LA is $1,599,900. The Market Action Index (MAI), which helps measure the balance between supply and demand, has dropped slightly to 36 from last month’s 37. Inventory, or the number of homes for sale, has stayed fairly steady at around 1,672.
What does this all mean? Well, the market has hit a bit of a balance recently—there’s a steady relationship between how many homes are for sale and how many are being sold. But because the inventory is still relatively low, we’re staying in a Seller’s Market. This means that sellers still hold some leverage due to ongoing demand.
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If we start seeing more activity (higher sales or less inventory), prices could start climbing again. But for now, things are in a stable zone. If you have any questions about the market or are thinking of buying or selling, feel free to reach out!
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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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