In August, home prices fell substantially from the month before, with a median listing price of $1,220,000.
The number of listings on the market remained practically unchanged from last month, but it is a bigger decrease than normal for this time of the year in Los Angeles, and homes are also selling slower than at the same time last year.
Home prices in Los Angeles
Typically, home price per square foot in Los Angeles tend to fall in August. And the most recent data shows that the price per square foot decreased by 1.1% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the City of Angels are smaller the national market.
Los Angeles inventory
In August, there were 3,533 homes for sale in Los Angeles, which was 0.8% less than the month before and 30.0% more than the same time last year.
Meanwhile, active inventory across the nation fell by 0.4% from last month to 1,098,681.
Time on market
Homes in Los Angeles take an average of 58 days to sell, according to August figures.
This is six days more than the previous month and four days more than the same month last year.
For comparison, nationally homes spent an average of 60 days on the market in August.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Los Angeles, CA.