Is Koreatown, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Koreatown is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Koreatown has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Koreatown, CA

How much do homes in Koreatown, CA cost?

Median Sold Price

$867,500

$642/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$87,500(+11.2%)

Key Takeaway

Homes in Koreatown have sold for 11.2% more than they did a month ago.

Summary: The median home sold price in Koreatown was $867,500 in November 2024, up 11.2% from last month, and the median price per square foot was $642.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 $360K$395K
+9.7%
2 $675K$774.5K
+14.7%
3 $760K$965K
+27.0%
4 $1.2M$1.1M
-12.4%
5+ $8.0M$1.3M
-83.9%

Summary: Koreatown housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 27%, 4 bedroom homes decreased by 12.4%, and 5+ bedroom homes decreased by 83.9%.

Median Sold Price Compared To Nearby Neighborhoods

Westminster Square
+54.5%
Koreatown
+11.2%

Housing Supply in Koreatown, CA

How many homes are available in Koreatown, CA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
132135+2.3%

Summary: The Koreatown real estate market had 135 homes for sale in November 2024, a 2.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1717
0.0%
2 4646
0.0%
3 2424
0.0%
4 1514
-6.7%
5+ 3034
+13.3%

Summary: The Koreatown housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 13.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1418+28.6%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Koreatown, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Koreatown in November 2024, up by 28.6% month-over-month. Of the 18 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.

Days on Market for Koreatown, CA

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

Average Sale Time

Oct 2024Nov 2024CHANGE
78 Days41 Days-46.8%

Summary: Homes in Koreatown had an average of 41 days on market in Nov 2024, down by 46.8% compared to last month.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 18 homes were sold in Koreatown; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% 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 18 Days Ago

Newest Listings in Koreatown, CA

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