Podcast - 082: Los Angeles real estate market update | Recap through June 2022

Realtor Anthony Luevanos and lender Angel Luevanos cover the Los Angeles real estate market in this episode. Home prices in Los Angeles County finally cooled off.

The median sales price declined from $900,000 in May to $890,000 in June. The median sales price in the last 12 months is up $55,000 and 6.6%.

The median price per square foot also decreased to $610. Since last June, the median price per square foot jumped $62 and 11.3%.

The number of homes for sale has increased but is still down 9.1% since last year.

Inventory months supply increased to 2.2 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.

Median days on the market increased to 11 days, two days more than our lowest on record.

We are slowly moving into a more balanced market. Increasing interest rates have suppressed our record buyer demand. The days where 20+ offers on a home well over asking are behind us. However, we are still far from seeing the market flip.

*percentages are comparisons year-over-year 

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