What is the cost of living in Los Angeles?

{ "answer": "Right now, the typical home listed for sale in the Los Angeles area has a median price of $1,050,000. This is the middle price point of all homes currently on the market. Over the most recent month, the median listing price dropped by 4.3%. Looking back over the past year, prices have also come down by 4.5%. There are 20,134 active listings available, which is almost the same as last year, with only a slight decrease of 0.3%. The number of brand new homes hitting the market also saw a small dip of 2.6% compared to a year ago, with 8,416 new listings. Homes are taking about 53 days to sell, which means they spend nearly two months on the market before going under contract. This timing hasn't changed at all over the past year. For someone looking to buy or sell, these numbers suggest a market where prices have cooled a bit recently. While there are plenty of homes available, they aren't selling noticeably faster or slower than they were a year ago." }