Los Angeles Real Estate Market Trends
Real Estate Highlights
- At $500,000, Los Angeles homes have the ninth-highest median sale price of all counties in California.
- With a 1-year price forecast of 6.40%, home values in Los Angeles are expected to have one of the lowest appreciation rates compared to counties in California, where prices are expected to rise 8.75% on average.
- FindTheHome rates the health of the real estate market in Los Angeles 90 out of a possible 100, a health score slightly above average for counties in California.
Rising Sale Prices in Los Angeles
The most recent median sale price for homes in Los Angeles was $500,000, indicating that sale prices tend to be higher in Los Angeles than in the rest of California, where the median sale price was $400,000. The median sale price in the United States was $199,000.
Sale prices in Los Angeles are on the rise and increasing more quickly than they are across California as a whole. The median sale price in Los Angeles increased by 6.38% from a year ago, compared to 5.26% growth seen across California.
Median Sale Prices in Los Angeles Zip Codes
The highest median sale price in Los Angeles is found in 90027, with a median home sale price of $1,330,000. Meanwhile, the lowest median sale price is in 93535, with listed homes selling for a median price of just $166,500.
Largest Changes in Price
90046 recorded the largest annual gain in median price (49.94%) in Los Angeles. Records show that 90007 posted the biggest drop in median sale price of all zip codes in Los Angeles, with a 57.14% drop over the past year.
Most Home Sales are Resales
88.7% of sales in the past month in Los Angeles were resales of existing homes. The total number of home sales dropped 16.68% over the past 12 months, but new construction sales experienced the lowest volume decline, with a year over year decrease of just 2.62%.
Rising List Prices
The most recent median list price for homes in Los Angeles was $518,693, indicating that list prices tend to be higher in Los Angeles than in the rest of California, where the median list price was $417,749.
List prices in Los Angeles are on the rise and increasing more quickly than they are across California as a whole. The median list price in Los Angeles increased by 8.30% from a year ago, compared to 5.58% growth seen across California.
Increasing For Sale Home Inventory
Relative to last year, the number of homes for sale increased in both Los Angeles and California. Our most recent statistics indicate that the number of homes for sale in Los Angeles increased by 3%, while inventory increased by 5% in California.
Home Values Expected to Continue Rising
Home values in Los Angeles are projected to rise by 6.4% over the coming year. Growth is projected to remain roughly the same as it did over the previous twelve months (6.2%).
Average Time on Market Remaining Constant
Last month, the typical home in Los Angeles sold after 5 weeks on the market, which was comparable to the 5 week average for homes in California.
Relative to last year, inventory in Los Angeles tends to be selling more quickly, as the average home is now on the market for 1 fewer week. However, the average days on market for homes in California has remained about the same over this period.