Leave a Message

Thank you for your message. We will be in touch with you shortly.

Los Angeles January '24 Real Estate Update Ascend RE

Ascend RE January 17, 2024

Sherman Oaks

Los Angeles January '24 Real Estate Update Ascend RE

Sales Price

The median home sold price in Los Angeles was $972,221 in December 2023, down 1.8% from last year, and the median price per square foot was $621. The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 9.6%.

 

Inventory

The Los Angeles real estate market had 5,739 homes for sale in December 2023, a 7.7% decrease compared to November 2023. The Los Angeles housing inventory by bedroom type for December 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 1.4%. A total of 1,210 homes were sold or pending in Los Angeles in December 2023, down by 3.3% month-over-month. Of the 1,209 sold homes, 47% were sold under asking, 14% were sold at asking, and 39% were sold over asking.

 

Days on Market

Homes in Los Angeles had an average of 35 days on market in Dec 2023, down by 13.8% compared to last year. Homes in Los Angeles had an average of 35 days on market in Dec 2023, down by 13.8% compared to last year.

 

The Bottom Line

December of 2023 saw relatively normal market trends with some uncharacteristically low outliers. These include a significant drop in average home prices and a large decrease in inventory throughout the year. Many seller’s felt understandably anxious about the state of the market toward the end of 2023. We are assuming many homeowners will see recent decreasing interest rates as a positive sign to re-introduce their homes into the market this year or finally list their home if they’ve been on the fence. We can also predict a healthy jump in inventory and prices for 2024. Spring may pose a better time to sell for a higher value and buyers should take advantage of recently dropped interest rates for a lower monthly mortgage payment. As always, we are here to help you make your real estate goals happen, simply click here to get started with a consult. 

 

Median Home Sale Price - Los Angeles County

 

Median Days on Market - Los Angeles County

 

Median Home Sale Price - Westlake Village

 

Median Days on Market - Westlake Village


Recent Blog Posts

Browse our blog posts to be in the know.

2024 Bay Area Holiday Schedule

Top Grocery Stores & Markets Near San Francisco

Your Guide to Fresh Finds and Specialty Foods in the Bay Area

North Bay October '24 Real Estate Update Ascend RE

South Bay Peninsula October '24 Real Estate Update Ascend RE

East Bay October '24 Real Estate Update Ascend RE

San Francisco October '24 Real Estate Update Ascend RE

Shaping the Future

A Creative Guide to the Top Schools Near San Francisco

14 Terrifying Bay Area Haunted Houses For The Bravest Among Us

From Ramen to Rice Paper

Discover the Best Asian Markets Near San Francisco

A Guide to the Best Mexican Eats

Top Taquerias Near San Francisco

San Francisco September '24 Real Estate Update Ascend RE

East Bay September '24 Real Estate Update Ascend RE

South Bay Peninsula September '24 Real Estate Update Ascend RE

North Bay September '24 Real Estate Update Ascend RE

Explore the Bay Area's Natural Beauty

Best Hiking Trails Near San Francisco

A Tail-Wagging Adventure

Top Dog Parks Near San Francisco

A Food Lover's Paradise

Top 10 Must-Try Restaurants Near San Francisco

Los Angeles August '24 Real Estate Update Ascend RE

San Francisco August '24 Real Estate Update Ascend RE

East Bay August '24 Real Estate Update Ascend RE

South Bay Peninsula August '24 Real Estate Update Ascend RE

North Bay August '24 Real Estate Update Ascend RE

North Bay July '24 Real Estate Update Ascend RE

San Francisco July '24 Real Estate Update Ascend RE

South Bay Peninsula July '24 Real Estate Update Ascend RE

East Bay July '24 Real Estate Update Ascend RE

Los Angeles July '24 Real Estate Update Ascend RE

Los Angeles June '24 Real Estate Update Ascend RE

San Francisco June '24 Real Estate Update Ascend RE

East Bay June '24 Real Estate Update Ascend RE

South Bay Peninsula June '24 Real Estate Update Ascend RE

North Bay June '24 Real Estate Update Ascend RE

San Francisco May '24 Real Estate Update Ascend RE

Los Angeles May '24 Real Estate Update Ascend RE

East Bay May '24 Real Estate Update Ascend RE

South Bay Peninsula May '24 Real Estate Update Ascend RE

North Bay May '24 Real Estate Update Ascend RE

Upholding Equality: The Significance of the Fair Housing Act

Bay Area: Spring and Summer Gardening Guide

North Bay April '24 Real Estate Update Ascend RE

South Bay Peninsula April '24 Real Estate Update Ascend RE

East Bay April '24 Real Estate Update Ascend RE

Los Angeles April '24 Real Estate Update Ascend RE

San Francisco April '24 Real Estate Update Ascend RE

South Bay Peninsula March '24 Real Estate Update Ascend RE

East Bay March '24 Real Estate Update Ascend RE

San Francisco March '24 Real Estate Update Ascend RE

Los Angeles March '24 Real Estate Update Ascend RE

North Bay March '24 Real Estate Update Ascend RE

Spring 2024 Farmer's Market Schedule

San Francisco February '24 Real Estate Update Ascend RE

Los Angeles February '24 Real Estate Update Ascend RE

North Bay February '24 Real Estate Update Ascend RE

South Bay Peninsula February '24 Real Estate Update Ascend RE

East Bay February '24 Real Estate Update Ascend RE

San Francisco January '24 Real Estate Update Ascend RE

Los Angeles January '24 Real Estate Update Ascend RE

North Bay January '24 Real Estate Update Ascend RE

South Bay Peninsula January '24 Real Estate Update Ascend RE

East Bay January '24 Real Estate Update Ascend RE

San Francisco December '23 Real Estate Update Ascend RE

East Bay December '23 Real Estate Update Ascend RE

North Bay December '23 Real Estate Update Ascend RE

South Bay / Silicon Valley December '23 Real Estate Update Ascend RE

Los Angeles December '23 Real Estate Update Ascend RE

2023 HOLIDAY COOKIE DECORATING SOCIAL

South Bay / Silicon Valley November '23 Real Estate Update Ascend RE

Los Angeles November '23 Real Estate Update Ascend RE

East Bay November '23 Real Estate Update Ascend RE

North Bay November '23 Real Estate Update Ascend RE

San Francisco November '23 Real Estate Update Ascend RE

Analysis: Homes Near Trader Joe’s Have Higher Values

North Bay October '23 Real Estate Update Ascend RE

East Bay October '23 Real Estate Update Ascend RE

South Bay / Silicon Valley October '23 Real Estate Update Ascend RE

Los Angeles October '23 Real Estate Update Ascend RE

San Francisco October '23 Real Estate Update Ascend RE

Live Work Play Here

For the month of June, we have supported LGBT Asylum Project, and are hosting this brunch in honor of all the great work this nonprofit does. Come join our teams for a… Read more

Hiring Licensed Real Estate Agents

Take your real estate career to the next level!

North Bay: January '23 Housing Update

What does 2023 have in store for the housing market?

San Francisco: January '23 Housing Update

What does 2023 have in store for the housing market?

San Francisco: March '23 Housing Update

Spring has sprung and the market is feeling a lot luckier!

East Bay: January '23 Housing Update

What does 2023 have in store for the housing market?

Move by HUD and FHA to provide greater homeownership opportunities

Have questions about the market? Our team is here to help and connect you to a lender.

Mortgage Rates Drop Prompts Buyer Demand

Mortgage Applications jump due to lowest rates since September

San Francisco Owners Required to Register Homes

March 1 Deadline for Rent Board Housing Inventory

Tenant Buyouts

What does it entail, and what does it mean for the residence owner going forward?  

Your Spring Guide to Bay Area Farmers’ Markets

Full Guide to 79 different farmers’ markets in San Francisco and beyond.

Los Angeles September '23 Real Estate Update Ascend RE

North Bay September '23 Real Estate Update Ascend RE

East Bay September '23 Real Estate Update Ascend RE

South Bay / Peninsula September '23 Real Estate Update Ascend RE

San Francisco September '23 Real Estate Update Ascend RE

The 12 most delicious new restaurants in the Bay Area

Summer is here, and so are the boozy slushies, all-you-can-eat tacos and double cheeseburgers

East Bay August '23 Real Estate Update Ascend RE

South Bay / Peninsula August '23 Real Estate Update Ascend RE

North Bay August '23 Real Estate Update Ascend RE

Los Angeles August '23 Real Estate Update Ascend RE

San Francisco August '23 Real Estate Update Ascend RE

San Francisco July '23 Real Estate Update Ascend RE

Let’s Talk

You’ve got questions and we can’t wait to answer them.