Los Angeles Real Estate: Is LA a Buyers’ or Sellers’ Market?

The Los Angeles real estate market can be daunting, especially for people who are new to the area. Whether you’re looking for a home or a real estate investment, understanding the market temperature is the first step toward making an informed buying decision.

Real Estate Prices Around Los Angeles

It is no secret that LA is a very expensive city to live in, both in terms of real estate and cost of living. As of a late 2017 report by CoreLogic, the county’s median sale price was over $550,000. So, anyone buying in LA or the surrounding area should expect to be paying significantly above the national average.

Is it a Buyers’ Market?

As a whole, real estate prices are continuing to rise, indicating that LA is a sellers’ market. The supply of properties on the market is low compared to the number of people seeking to buy. This is partially driven by the large number of people moving to LA. Additionally, the area’s strong rental market reduces the number of real estate sales, as owners hold onto properties as investments.

The market for higher-end real estate has cooled off. Prices at the top of the market reached record highs in 2017. The small number of people able to afford those values has resulted in a slowing down. Nonetheless, the overall market continues to grow, mostly due to competition over more affordable real estate. If you are looking for Los Angeles condos for sale or trying to purchase a starter-house, expect to be competing against many other buyers.

Navigating the Market

Whether you are buying or selling, Maser Condo Sales is here to help as your Los Angeles real estate agents. Our listings include a wide variety of houses as well as condos for sale. If you want to get into the competitive LA market, you will want the best real estate agents by your side. Contact us today to learn more.