The median home price in Southern California has risen again. The median sales price in LA county was $878,318, which has risen 6.5% year-over-year. However, inventory is still low, according to Realtor.com in October, “newly listed homes declined by 2.3% on a year-over-year basis and sellers are still listing at rates 11.6% lower than typical of 2017 to 2019 levels. Last month we noted a change in direction where fewer new sellers were listing homes than the previous year, and this month this trend continued.” The typical home spent 24 days on the market this October, which is 3 days less than last year despite the typical seasonal slowing, homes still sold faster than any other October in recent history.
Click here to read the full October 2021 Micro Report for Los Angeles, with statistics from neighborhoods and counties across Southern California.