The Spring homebuying season is officially here, and buyers are still experiencing low inventory and bidding wars, however, it is stabilizing with interest rates increasing slightly. The median price for homes in Los Angeles County increased from $870,000 from $950,750 last month but a general increase year-over-year of 9.3% compared to March of 2021. Los Angeles continues to be one of the hottest real estate markets and this is a great time to sell, with the days on market decreasing 20.6% to 19 days on average from list to close.
Whether you’re buying or selling this year, the market is still moving fast in almost every city across LA County.
Click here to read the full March 2022 Micro Report for Los Angeles, with statistics from neighborhoods and counties across Southern California.