$10,000 Closing Credit*
$1,250,000
Alin Glogovicean, Listing Office: Redfin Corporation
Is South LA, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$708,187
$543/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,644(+6.1%)
Key Takeaway
Homes in South LA have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in South LA was $708,187 in October 2024, up 6.1% from last year, and the median price per square foot was $543.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $390K | $490K | +25.6% |
| 2 Bedrooms | $565.7K | $600K | +6.1% |
| 3 Bedrooms | $675.3K | $710K | +5.1% |
| 4 Bedrooms | $750K | $750K | 0.0% |
| 5+ Bedrooms | $975K | $1.0M | +2.6% |
Summary: South LA housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.6%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 5.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Vermont Slauson | $592K | $680K | +14.9% |
| South LA | $667.5K | $708.1K | +6.1% |
| Harvard Park | $615K | $638K | +3.7% |
Housing Supply in South LA, CA
How many homes are available in South LA, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,049 | 1,120 | +6.8% |
Summary: The South LA real estate market had 1,120 homes for sale in October 2024, a 6.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 28 | 25 | -10.7% |
| 2 Bedrooms | 219 | 234 | +6.8% |
| 3 Bedrooms | 369 | 384 | +4.1% |
| 4 Bedrooms | 193 | 208 | +7.8% |
| 5+ Bedrooms | 240 | 269 | +12.1% |
Summary: The South LA housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.7%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 12.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 164 | 171 | +4.3% |
Asking Price vs. Sold Price
65 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
83 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South LA, you could pay more than the asking price. 48.5% of homes here sold above asking price last month.
Summary: A total of 171 homes were sold or pending in South LA in October 2024, up by 4.3% month-over-month. Of the 171 sold homes, 38% were sold under asking, 13% were sold at asking, and 49% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 43 Days | +30.6% |
Summary: Homes in South LA had an average of 43 days on market in Oct 2024, up by 30.6% compared to last year.
Breakdown of Home Sale Times
90 Homes Were Sold
Under 30 Days
53 Homes Were Sold
In 30 - 90 Days
28 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 October 2024, 171 homes were sold in South LA; 53% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 16% 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.