Is Los Angeles a good market for real estate investment?

The Los Angeles market is seeing prices drop compared to last year, with homes staying on the market longer. This could mean more opportunities for you if you're looking to invest. The typical home in Los Angeles is listed for $1,099,950. That's actually 7% lower than it was a year ago, which means prices have come down a bit. The price per square foot is also down by 2.6% over the past year, now at $662. Homes are taking a little longer to sell than they used to. The typical home now spends 50 days on the market, which is about 6.4% longer than last year. This extra time might give you more room to negotiate. Currently, there are 19,232 homes for sale. This number hasn't changed much from last year, only a slight decrease of 0.9%. The number of brand-new listings dropped by 2.9% over the past year, with 9,166 new homes coming onto the market. A smaller share of homes, 15.4%, had their prices reduced compared to last year. This is a 1.3% decrease in price reductions year-over-year. Also, the number of homes with pending sales has gone up, which means more buyers are committing to purchases. Considering the price drops and the longer time homes are spending on the market, you might find some good deals if you're looking to invest in Los Angeles right now.