How long do homes take to sell in Los Angeles?

Homes in the Los Angeles area are currently taking about 55 days to sell once they are listed. This means a typical home goes from being listed to being under contract in just under two months. The time it takes to sell a home has actually sped up a bit, being 3.5% faster than it was last year. This suggests homes are moving off the market a little quicker now. Right now, there are 20,130 homes available for sale, which is slightly more than last year. Even with more homes available, the pace of sales is still relatively quick. For comparison, 7,762 new homes were put on the market in the most recent month. About 17.1% of homes have had their prices reduced, which is a small increase compared to last year. This can sometimes mean that homes are taking a bit longer to find the right buyer at their initial price. If you're selling, be prepared for your home to be on the market for around two months, and pricing it right from the start can help. If you're buying, homes are moving fairly quickly, so be ready to act when you find a place you like.