Episode - 044: What does the LA County real estate market look like? | Recap through October

Prices in Los Angeles County have dropped for the fourth straight month.

The median sales price dropped from $820,000 in September to $810,000 in October.  Since June, prices have dropped $25,000.

The number of homes for sale have increased slightly and inventory months supply increased to 1.9 months from our yearly low of 1.8 months. Remember 5-6 months is a balanced market and 6+ is a buyers market. Median days on market also increased to 12 days from our yearly low in July of 9 days.

All in all, we are still in a seller’s market but there are a lot of good signs for buyers. Prices are decreasing, there is more inventory and days on market, and interest rates are still low! 

*percentages are comparisons year-over-year 

For more details and charts, click: https://theluevanosgroup.com/market-trends