How much should I offer on a home in Los Angeles?

Deciding on an offer for a home in Los Angeles depends on several factors, including how long the home has been on the market and how it's priced compared to similar homes. Currently, the median listing price in Los Angeles is $1,100,000, which is 8.0% lower than a year ago. Homes are taking a bit longer to sell, with the typical home sitting on the market for 47 days. This is slightly longer than last year, giving you a little more time to make a decision. About 14.3% of homes have lowered their prices, which is a sign that some sellers are willing to negotiate. This percentage is also a bit lower than last year, suggesting that while some deals can be found, it's not a widespread trend. With 18,523 homes currently for sale and 8,804 new homes coming on the market, there are options available. However, fewer new homes are being listed compared to last year, which could mean less fresh inventory. Given these conditions, you have room to consider offers that are competitive but also reflect the current market where prices have seen a decline. Researching how long a specific home has been listed and if its price has been reduced can give you an edge.