The Los Angeles real estate market is a dynamic and ever-evolving landscape, and understanding key data points is crucial for both buyers and sellers. As of October 2023, we’ll delve into some of the most important figures that shed light on the current state of the market.

Median List Price: $1,575,000
In October 2023, the median list price for homes in Los Angeles stands at $1,575,000. This figure reflects the middle point of all properties listed for sale in the city, offering prospective buyers a glimpse into the price range they can expect in this highly competitive market.

Price per Square Foot: $830
The price per square foot is a useful metric for understanding the value of a property in terms of its size. In Los Angeles, this figure currently sits at $830, which gives buyers and sellers a clear idea of how much they can expect to pay or list a property for based on its square footage.

Average Days on Market: 96 Days
The average days on the market, or DOM, is an important indicator of market activity. A DOM of 96 days means that, on average, properties in Los Angeles are taking approximately three months to sell. Understanding this data point is crucial for managing expectations, setting appropriate listing prices, and planning for a smooth real estate transaction.

Price Decrease: 34%
Over the past year, Los Angeles has seen a decrease of 34% in property prices. This decline may be a result of various factors, including economic conditions, supply and demand, and market trends. Buyers may find this data point encouraging, as it could signal a more favorable market for those looking to invest in a home.

Inventory: 1,312 Homes
As of October 2023, there are 1,312 homes available on the Los Angeles real estate market. This figure represents the supply of properties for prospective buyers to choose from. A higher inventory can provide buyers with more options and potentially help to stabilize prices in the long run.

Median Rent: $5,995
For those not ready to commit to homeownership, the median rent in Los Angeles is $5,995. This figure can be valuable for renters, allowing them to budget accordingly and explore rental options that suit their financial means.

These key data points offer valuable insights into the current state of the Los Angeles real estate market in October 2023. Whether you’re a buyer, seller, or investor, understanding these figures is essential for making informed decisions. As market conditions continue to evolve, staying informed about these metrics will empower you to navigate the Los Angeles real estate landscape with confidence. If you have any specific questions or require further guidance, don’t hesitate to reach out to a local real estate professional who can provide you with personalized insights and expertise.