Podcast - 072: Los Angeles real estate market update | Recap through April 2022

Realtor Anthony Luevanos and lender Angel Luevanos break down the Los Angeles County market in this podcast.

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

The median sales price increased from $870,000 in March to $900,000 in April. In the last 12 months, the median sales price is up $101,000 and 12.6%.

The median price per square foot also increased to $612. Since last April, the median price per square foot jumped $90 and 17.2%.

The number of homes for sale has increased slightly but is still down 19.8% since last year.

Inventory months supply increased to just 1.6 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.

Median days on the market remained just nine 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