Top Real Estate Agents in Los Angeles, California

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2023 Los Angeles, California Housing Market Summary

Los Angeles, California started 2023 with a total of 1,006 single-family homes on the market, with a median home price of $1,157,500 and an average price per square foot of $894. By the end of the year, inventory had increased to 1,010 homes on the market (+0%), with a median home price of $1,395,000 (+20%) and an average price per square foot of $898 (+0%).

At the start of 2023, the median days on market (DOM) was 77 days – by the end of the year, median DOM had remained the same at 77 days.

Los Angeles started the year with 35% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 33% of Los Angeles homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Los Angeles started 2023 as a seller’s market, with an MAI score of 44; by the end of the year, the MAI had dropped to 40 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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