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Los Angeles Real Estate Market

Own Los Angeles Real Estate Market as an Agent

As you prepare to launch your lucrative career in real estate, now is the time to sharpen your knowledge about the Los Angeles housing market. Explore insights about market demand and pricing tactics — helping you to not only thrive in this market but also sustain your business over time.

Los Angeles Real Estate Market by the Numbers:

High Home Prices: Los Angeles has a median home price of approximately $908,040, marking an all-time high.*
Rising Interest Rates: The mortgage interest rate in Los Angeles has increased to 7.06%, making it harder for buyers to afford homes.*
Moderate Employment Growth: The city’s economy has experienced a 1.3% year-over-year increase in employment, with tech and entertainment sectors driving job creation.*
Seller’s Market Softening: Although median prices are high, homes are sitting on the market longer (37 days on average), so there are more opportunities for buyers to negotiate.*
High Rental Prices: Rent remains expensive, with one-bedroom apartments in top areas like Beverly Hills and Santa Monica costing around $3,000.*

* Source: Norada Real Estate Investments

Los Angeles Housing Market Trends

Success in the Los Angeles real estate market also depends on staying informed about trends. Explore these latest trends:

Shift Towards Suburban and Remote Work-Friendly Homes: Buyer preferences continue shifting toward larger homes with more space, particularly in suburban areas, driven by the increase in remote work.
Housing Demand is a Result of Employment Growth: Los Angeles has experienced modest job growth, which continues to attract new residents and support housing demand.
Luxury Market Resilience: Despite overall sales declines, the luxury market in areas like Beverly Hills remains robust due to limited supply and demand from high-net-worth individuals and international buyers.