Episode - 052: What does the LA County real estate market look like? | Recap through December

Prices in Los Angeles County just had their biggest increase since June.

The median sales price increased from $820,000 in November to $835,000 in December. Prices are up $100,000 since last December!

The number of homes for sale have decreased and inventory months supply dropped to just 1.2 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. Prices tend to retreat in the winter but we just matched our yearly high in median sales price. We expect interest rates to go up soon so although it’s very competitive, it may make sense to start looking now before the monthly payment starts to rise even more.

*percentages are comparisons year-over-year 

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

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