Episode - 047: What does the LA County real estate market look like? | Recap through November

Prices in Los Angeles County have slightly increased for the first time since June.

The median sales price increased from $812,000 in October to $815,000 in November.  Since June, prices have dropped $20,000.

The number of homes for sale have decreased and inventory months supply dropped to 1.6 months. Remember 5-6 months is a balanced market and 6+ is a buyers market. Median days on market remained 12 days and is up from our yearly low in July of 9 days.

All in all, we are still in an extreme seller’s market but we are heading into the season where there tends to be less buyers and home prices tend to decrease. It may be an advantageous time to look when no one else is.

*percentages are comparisons year-over-year 

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