Podcast - 068: Los Angeles real estate market update | Recap through March 2022

Home prices in Los Angeles County increased despite increasing interest rates.

The median sales price increased from $835,000 in February to $870,000 in March. In the last 12 months, the median sales price is up $95,000 and 12.3%

The number of homes for sale has increased slightly; however, we still have about half the active listings from February 2017 to 2019. 

Inventory months supply increased to just 1.4 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.

Median days on the market decreased to 9 days, the fastest on record.

All in all, we are still in an extreme seller’s market. As interest rates increase, this should affect how much prices increase moving forward. 

*percentages are comparisons year-over-year 

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