"Exciting Inventory Surge in Los Angeles In December, Los Angeles experienced an invigorating rise in active listings, reaching a total of 2,836 homes, a notable 14.6% increase from the previous year. This surge surpassed the national growth rate of 12.1% in active listings. Additionally, the city welcomed 540 newly listed homes, marking a 3.1% increase, starkly contrasting with the national trend of a 1.8% decline. This influx of fresh options enriched the market, offering buyers an exciting array of choices."
"Home Prices: A Buyer's Delight The median listing price in Los Angeles settled at $1,199,500 in December, showcasing a slight 2.1% dip from the previous year. This decrease was more pronounced than the national median listing price drop of 0.6%. With the share of homes experiencing price reductions rising by 0.6 percentage points to 8.4%, buyers found themselves in a position to capitalize on favorable pricing amidst increasing options."
"Days on Market: More Time for Buyers to Decide Homes in Los Angeles lingered on the market for a median of 70 days in December, a modest 3.7% increase from the previous year. This duration was slightly shorter than the national median of 73 days, which also rose by 5.0% year-over-year. The lengthening market times presented buyers with the luxury of time to make thoughtful decisions, further enhancing the buyer-friendly atmosphere."
Los Angeles active listings rose to 2,836 homes in December, a 14.6% year-over-year increase that outpaced the national 12.1% growth. The city added 540 newly listed homes, a 3.1% year-over-year increase compared with a 1.8% national decline. The median listing price fell 2.1% to $1,199,500, larger than the national 0.6% decline, while the share of homes with price reductions increased to 8.4%. Median days on market extended to 70 days, up 3.7% year-over-year and slightly below the national 73 days. The combined trends produced a more favorable environment for buyers and heightened competition for sellers.
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