Smaller Pool Of Buyers Are Vying For Fewer Homes

Sep 26

What is the housing market like in Los Angeles today?

In August 2023, Los Angeles home prices were up 0.3% compared to last year, selling for a median price of $980K. On average, homes in Los Angeles sell after 39 days on the market compared to 41 days last year. There were 1,773 homes sold in August this year, down from 1,854 last year.

Inventory levels remain at historic lows - down almost 30% year-over-year. Check out Douglas Elliman’s Aug 2023 microreport for statistics on various markets throughout Los Angeles.