Real Estate Statistics
|Avg. Days On Market||94|
Property Types (active listings)
Buyers in LA still hold out hope for home prices to ease and plenty of properties will soon be listed in 2022. Although inventories are growing, it is not in the affordable category, and prices only flattened in April according to CAR. They were raging this late winter. And the median home price in California did hit another all time high. And with the economy recovering somewhat, jobs up, wages rising, and millennials never wanting to give up on owning rather than renting (for their new family formation) demand is still brisk. In fact, many investors continue to see LA as the best place to invest. If 160,000 people hadn’t left California in 2021, the housing market would be under much more pressure.
Homes sold over asking in April set a new record high of 72.8% and the normal big home sales months are just ahead.
In LA County, in April, home sales were down 13% vs last April, yet home prices hit $900,000 which is up 9.1% since last year. The sales to list price is still a strong 103.5% in April.
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