Are home prices going up or down in Los Angeles?

Home prices in Los Angeles are cooling down. The typical home is selling for less than it was a year ago, but prices have barely changed in the last month. The median listing price in Los Angeles right now is $1,100,000. This is 8.0% lower than it was a year ago, meaning homes are generally more affordable now than they were at that time. However, compared to last month, the median listing price only increased by a tiny 0.1%. This shows that prices have largely stabilized in the very short term, even as they remain lower year-over-year. It's also taking a bit longer to sell a home. The median days on market is 47 days, which is 4.4% longer than last year. This suggests that buyers have more time to make decisions. There are more homes available now compared to last year, with active listings up 2.0% to 18,523. This gives buyers more choices, but fewer new homes are being added to the market, with new listings down 4.2%.