"The Los Angeles metro housing market remains tight, but prices show early signs of softening as new listings come in below current medians. HW Data shows about 1,437 single-family homes sold last week, underscoring steady demand even as affordability remains a challenge. The Market Action Index registered 41.5 last week, signaling firm competition among buyers. HW Data's Market Action Index measures the balance between supply and demand, with values above 30 indicating a seller's market. Supply remains tight."
"The Los Angeles metro has 1.94 months of inventory, a level consistent with continued price pressure. Homes on the market show a median 63 days to sell, while properties under contract are moving faster, with a median 49 days to pending. The overall median list price is $1.4 million, and the median list price per square foot is about $700, reflecting the region's premium values. Last week brought 1,097 new listings with a median price of $1.13 million."
The Los Angeles metro market shows sustained demand with about 1,437 single-family homes sold last week and 1,097 new listings at a median price of $1.13 million. The Market Action Index registered 41.5, indicating a seller's market and firm buyer competition. Supply remains tight with 1.94 months of inventory. Active homes take a median 63 days to sell while pending properties move in 49 days. Median list prices range roughly $1.075–$1.4 million and price per square foot about $633–$700. Price cuts affected about 28% of active listings. Rental inventory totaled 3,131 units at a median rent of $4,800. Tight inventory and high prices drive lender interest in creative financing and strong pre-qualifications, while agents report decisive buyer action on well-priced listings.
Read at www.housingwire.com
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