It’s almost the end of the year and many are wondering where home prices will go from here. The median sales price in LA county was $880,000 which has risen 10% year-over-year. This year is definitely a great time for sellers looking to cash in on their equity. We continue to sell for top dollar in Los Angeles which brings the bidding wars and multiple offers in this seller’s market with low inventory. Los Angeles County only listed 11,859 properties for sale compared to 17,525 in 2020, which is a significant decline of -32.3% year-over-year. The 30-year average fixed mortgage rate, while still historically low, rose to 3.14% at the end of October. 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 November 2021 Micro Report for Los Angeles, with statistics from neighborhoods and counties across Southern California.