Prices in Los Angeles County just had their most significant decrease since Jan 2021.

The median sales price decreased from $836,000 in November to $825,000 in December. In the last 12 months, the median sales price is up $104,000 and 14.4%

The number of homes for sale has increased slightly, and inventory months supply increased to just 1.3 months.

Median days on the market increased to 14 days which is our most days since July 2020. Remember 5-6 months is a balanced market, and 6+ is a buyers market.

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