The statistics and figures noted in this article were obtained through the MLS and AccuFlip.com, and are for Los Angeles single family residences.

The median sales price for Los Angeles County SFR for August 2015 came in at $558,000. A decrease of 1.24% from July. Year over year prices are up 5.2%. Volume also dipped a little with 4258 sales down from July’s 4710 sales. Year over year sales are up 8.3%, which is a much more important statistic. Increased year over year volume is always a positive sign.

There are approximately 11,100 single family homes for sale, up slightly from one month ago. As we come out of the buying season we should expect to see the ratio of pendings to actives come down, which we are. There are currently 7,386 properties under contract, dropping the pendings to actives ratio down to 66%.

The market statistics for August aren’t giving us much of a story. Prices are flattening off, but there are no indicators of any big changes in the near future. Price appreciation in nice to have, but it cannot appreciate at too steep of a rate because that creates the need for a correction. Prices are increasing, but at a more reasonable rate, which is needed to prolong the sustainability of the market. Buyers are still active and the market is moving along. Sometimes no news is good news.

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