In September 2024, the Los Angeles real estate market showed a slight dip in home sales due to rising interest rates and seasonal factors. However, year-over-year sales were still up by 9.1%, indicating strong demand. The median price for a single-family home reached $909,010, with a 2.2% monthly and 6.7% annual increase. Inventory remains tight at 3.0 months, continuing to push prices upward. Interest rates are stable but higher than the previous year, affecting affordability. Overall, LA leans toward a buyer's market, with homes generally selling slightly below their list prices( Norada Real Estate Investments)(Redfin).
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