Should I buy new construction or resale in Los Angeles?

Really, this depends on your personal preferences, but the Los Angeles housing market currently shows some interesting trends to consider. The overall median listing price is a bit over one million dollars, and it has dropped both over the most recent month and the past year. This could mean more opportunities for buyers right now. Also, sellers are becoming more open to price reductions. Currently, about 17% of homes have had their prices lowered. This share has gone up over the past year, which suggests buyers might have more room to negotiate. Homes are staying on the market for an average of 55 days, which is slightly less than this time last year. While homes are selling a bit faster, there are more homes available than last year, giving you more choices. The number of new homes coming on the market has dipped slightly over the past year. However, the total number of active listings has increased, meaning there’s more inventory for you to look at. With prices easing and more homes available, it’s a good time to explore your options and possibly find a home that fits your budget. This market might offer more negotiation opportunities compared to a year ago.