Home prices in Los Angeles County increased despite the jump in interest rates.

The median sales price increased from $825,000 in January to $834,000 in February. In the last 12 months, the median sales price is up $84,000 and 11.2%.

The number of homes for sale has increased slightly, and inventory months supply increased to just 1.3 months. However, we still have about half the active listings from February 2017 to 2019.

Median days on the market decreased to 10 days, four days faster than last month. 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