Podcast - 077: Los Angeles real estate market update | Recap through May 2022

In this episode, realtor Anthony Luevanos and lender Angel Luevanos break down the Los Angeles County real estate market. Are we heading into a housing market crash?

The median sales price remained at $900,000 from April to May. In the last 12 months, the median sales price is up $83,000 and 10.2%.

The median price per square foot also increased to $620. Since last May, the median price per square foot jumped $76 and 14%.

The number of homes for sale has increased but is still down 20.6% since last year.

Inventory months supply increased to just 1.8 months. For your information, 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, we slowly transition into a more balanced market. It seems like the days where 20+ offers on a home well over asking are behind us.

*percentages are comparisons year-over-year 

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