Is Los Angeles a good place to relocate to?

Deciding to relocate depends on what you're looking for, but the housing market in Los Angeles has seen prices drop quite a bit compared to last year. The typical home lists for $1,100,000, which is down 8.0% from a year ago. Right now, there are 18,523 homes for sale, a slight increase of 2.0% over last year. However, fewer new homes are coming onto the market, down 4.2% from a year ago, with 8,804 new listings. Homes are also taking a bit longer to sell, sitting on the market for an average of 47 days, up 4.4% from last year. About 14.3% of sellers have lowered their prices, which is actually a smaller share than a year ago. The price per square foot has also gone down to $667, a decrease of 2.9% from last year. This lower price per square foot means you might get a little more for your money compared to before. If you're thinking about moving to Los Angeles, the current market might mean you have a bit more room to negotiate on price, given the drops in both overall listing prices and price per square foot.