"In October, home prices fell slightly from the month before, with a median listing price of $1,237,000. The number of listings on the market remained practically unchanged from last month, but it is a bigger decrease than normal for this time of the year in Los Angeles, and homes are also selling slower than at the same time last year."
"Typically, home price per square foot in Los Angeles tend to fall in October. And the most recent data shows that the price per square foot decreased by 0.7% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the City of Angels are keeping pace with the national market."
"In October, there were 3,451 homes for sale in Los Angeles, which was 0.6% less than the month before and 19.4% more than the same time last year. Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001. Homes in Los Angeles take an average of 58 days to sell, according to October figures. For comparison, nationally homes spent an average of 63 days on the market in October."
Median listing price in Los Angeles was $1,237,000 in October, representing a slight monthly decline. Listings on the market were nearly unchanged from the prior month but marked a larger-than-normal seasonal drop and were 19.4% higher than last year, with 3,451 homes for sale. Price per square foot in Los Angeles fell 0.7% month-over-month, closely matching the national per-square-foot decline of 0.8%. Average time on market in Los Angeles was 58 days in October, unchanged from the previous month and six days longer than the same month last year, compared with a 63-day national average.
Read at SFGATE
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