What is the median home price in Los Angeles?

The median listing price for a home in the Los Angeles area is $1,034,500 right now. This price has seen some recent shifts, both in the last month and over the past year. Looking at recent changes, the median listing price went down by 1.5% compared to the previous month. Over the past year, it has decreased by 5.9%, meaning homes are generally listed for less than they were twelve months ago. There are currently 20,130 active listings in the area, which is 4.2% more than there were at this time last year. However, the number of new listings coming onto the market has slightly decreased by 1.9% year-over-year. Homes are staying on the market for an average of 55 days, which is a bit quicker than last year, down 3.5%. This faster pace suggests that available homes are finding buyers a little faster than before. About 17.1% of homes have had their prices reduced, which is a small increase of 1.9% compared to the previous year. This can indicate that some sellers are adjusting their expectations to attract buyers. For sellers, understanding these trends means pricing your home competitively. For buyers, the slight decrease in median price and quicker sales times suggest an active market where good opportunities might be found with prompt action.