Los Angeles County Real Estate Market Update: December 2023 Recap

As we kickstart 2024, let's take a moment to review the Los Angeles County real estate market activity for December 2023. This vibrant and diverse market has seen some exciting dynamics, so let's delve into the details.

New Listings

In December 2023, Los Angeles County saw a robust influx of new listings, with a total of 2,656 properties hitting the market. This surge in new listings reflects sellers' confidence in the market and provides a wide array of options for potential buyers.

Active Listings

The active listings for the month stood at a substantial 8,240. This high number indicates a healthy inventory level, offering a plethora of choices for those looking to invest in the thriving LA County real estate market.

Pending and Closed Sales

Pending sales for December came in at 2,275, a strong figure that showcases the robust demand for properties in LA County. The number of closed sales was even more impressive, reaching a total of 3,281. These substantial figures highlight the active and dynamic nature of the LA County real estate market.

Closed Transaction Volume

The closed transaction volume for the month was an astounding $7,753,599,676. This figure underscores the significant value being exchanged in the LA County real estate market and the high level of investment activity in the area.

Average Days on Market

The average number of days properties spent on the market in December was 32. This relatively brief period indicates a high demand for properties and a market where transactions are moving quickly, a positive sign for both buyers and sellers.

Median Sales Price

Lastly, the median sales price for December 2023 was $850,000. This price point suggests a balanced market, with a healthy mix of both high-end and more affordable properties. The median sales price is a useful indicator for potential buyers and sellers to understand the overall market conditions.

In conclusion, the Los Angeles County real estate market wrapped up 2023 with strong performance across all key indicators. With a high number of new and active listings, robust sales activity, substantial transaction volume, and a balanced median sales price, LA County continues to prove itself as a dynamic and attractive real estate market.

Please note that these statistics are based on the data available at the time of writing this blog and may be subject to change. For more detailed and up-to-date information, it is always recommended to consult with a local real estate professional.