How long do homes take to sell in Los Angeles?

It takes about 47 days for a home to sell in Los Angeles right now. This means homes are selling a bit slower than they were a year ago. Today, homes are sitting on the market for close to seven weeks before finding a buyer. Last year, homes sold a little faster, at around 45 days. There are 18,523 homes for sale in Los Angeles. This is about the same number of homes as there were last year at this time. However, fewer new homes are coming on the market, with 8,804 new listings, down 4.2% from last year. The typical home in Los Angeles is listed for $1,100,000. This price hasn't changed much in the last month, but it's 8% lower than it was a year ago. Also, almost 15% of sellers have had to drop their price. If you are selling, be ready for your home to take a bit longer to sell compared to last year. If you are buying, you might have a bit more time to make a decision.