LA Housing micro market report feb 2023

Housing sales have declined more than 35 percent in the last year in LA County, however according to a recent Douglas Elliman report, there was an uptick in home sales in February with 2,010+ closed sales for single-family homes in Feb 2023 compared to 1,565 closed sales in Jan 2023.  This could be driven by desire to close on homes priced at $5M or more, before the ULA “Mansion” Tax kicks in on April 1.  Snapshot of market activity in several Westside neighborhoods. Link in bio for more stats on LA market activity. More market info in link to. Micro Report below.

Micro Report: https://www.elliman.com/resources/siteresources/commonresources/static%20pages/images/corporate-resources/rr/jan2023_mmr_singlepages.pdf

State of LA Market: https://therealdeal.com/la/2023/03/02/brokerage-reports-quantify-drop-in-la-housing-market/