Is Central LA, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Central LA is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Central LA was a Seller's Market.

Key Takeaway

Central LA is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Central LA, CA

How much do homes in Central LA, CA cost?

Median Sold Price

$1,338,702

$753/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$11,425(-0.8%)

Key Takeaway

Homes in Central LA have sold for 0.8% less than they did a year ago.

Summary: The median home sold price in Central LA was $1,338,702 in November 2024, down 0.8% from last year, and the median price per square foot was $753.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $571K$585K
+2.5%
2 $1.0M$959.8K
-5.5%
3 $1.6M$1.5M
-2.4%
4 $2.0M$1.9M
-4.2%
5+ $2.2M$2.2M
+1.3%

Summary: Central LA housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 1.3%.

Housing Supply in Central LA, CA

How many homes are available in Central LA, CA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2,0472,163+5.7%

Summary: The Central LA real estate market had 2,163 homes for sale in November 2024, a 5.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 275300
+9.1%
2 491513
+4.5%
3 481490
+1.9%
4 337346
+2.7%
5+ 463514
+11.0%

Summary: The Central LA housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 11%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
259231-10.8%

Asking Price vs. Sold Price

126 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

80 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Central LA, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 231 homes were sold or pending in Central LA in November 2024, down by 10.8% month-over-month. Of the 231 sold homes, 55% were sold under asking, 11% were sold at asking, and 35% were sold over asking.

Days on Market for Central LA, CA

How long does it take to sell a home in Central LA, CA?

Average Sale Time

Nov 2023Nov 2024CHANGE
51 Days42 Days-17.0%

Summary: Homes in Central LA had an average of 42 days on market in Nov 2024, down by 17% compared to last year.

Breakdown of Home Sale Times

124 Homes Were Sold
Under 30 Days

77 Homes Were Sold
In 30 - 90 Days

30 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Central LA are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 231 homes were sold in Central LA; 54% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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