$7,190 Closing Credit*
$605,500
908 SqFt
2 Beds
•1 Full Bath
Josephine McReynolds, Listing Office: Keller Williams Larchmont
Is South LA, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, South LA was a Seller's Market.
Key Takeaway
South LA is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South LA, CA
How much do homes in South LA, CA cost?
Median Sold Price
$712,240
$540/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,131(+6.8%)
Key Takeaway
Homes in South LA have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in South LA was $712,240 in November 2024, up 6.8% from last year, and the median price per square foot was $540.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | $469K | +18.7% |
| 2 Bedrooms | $569.6K | $600K | +5.3% |
| 3 Bedrooms | $680K | $716.6K | +5.4% |
| 4 Bedrooms | $750K | $750K | 0.0% |
| 5+ Bedrooms | $934K | $976.8K | +4.6% |
Summary: South LA housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.7%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 5.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Neighborhoods
| South LA | $667.1K | $712.2K | +6.8% |
| Harvard Park | $615K | $650K | +5.7% |
Housing Supply in South LA, CA
How many homes are available in South LA, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,078 | 1,092 | +1.3% |
Summary: The South LA real estate market had 1,092 homes for sale in November 2024, a 1.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 22 | -8.3% |
| 2 Bedrooms | 226 | 228 | +0.9% |
| 3 Bedrooms | 374 | 373 | -0.3% |
| 4 Bedrooms | 206 | 203 | -1.5% |
| 5+ Bedrooms | 248 | 266 | +7.3% |
Summary: The South LA housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 7.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 181 | 163 | -9.9% |
Asking Price vs. Sold Price
86 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South LA, you may be able to get a good deal. 52.8% of homes here sold below asking price last month.
Summary: A total of 163 homes were sold or pending in South LA in November 2024, down by 9.9% month-over-month. Of the 163 sold homes, 53% were sold under asking, 17% were sold at asking, and 31% were sold over asking.
Days on Market for South LA, CA
How long does it take to sell a home in South LA, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 46 Days | 51 Days | +11.3% |
Summary: Homes in South LA had an average of 51 days on market in Nov 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
63 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South LA are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 163 homes were sold in South LA; 47% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.