Los Angeles County Real Estate Market Update - February 2024

As we step further into 2024, let's take a closer look at the real estate market trends in Los Angeles County for February. Known for its diverse property market and lucrative investment opportunities, Los Angeles County offers an exciting and dynamic real estate landscape.

New Listings

February 2024 saw a total of 4,810 new listings in Los Angeles County. This figure represents a healthy level of activity by sellers in the market and introduces potential buyers to a variety of fresh options, ranging from luxury estates to charming single-family homes.

Active Listings

The active listings for the month stood at 9,656. This number signifies a robust inventory level, offering a wide spectrum of choices for those looking to invest or find their dream home in the bustling Los Angeles County real estate market.

Pending and Closed Sales

Pending sales for February were recorded at 2,513, demonstrating strong demand for properties in the region. Furthermore, the number of closed sales was even higher, totaling 3,092. These figures underscore the dynamism of the Los Angeles County real estate market, with a considerable volume of transactions being completed.

Closed Transaction Volume

The closed transaction volume for the month was a staggering $7,606,422,642. This significant figure underscores the substantial value being exchanged in the Los Angeles County real estate market, reflecting the high level of investment activity in the area.

Average Days on Market

The average number of days properties spent on the market in February was 37. This relatively short period suggests that properties are selling reasonably quickly, indicative of a balanced market where demand is meeting supply.

Median Sales Price

Lastly, the median sales price for February 2024 was $870,000. This price point, while higher than the previous year's median sales price, suggests a market with a mix of both luxury and more affordable properties. It serves as a useful indicator for potential buyers and sellers to understand the overall market conditions.

In conclusion, Los Angeles County's real estate market continued its strong performance in February 2024 across all key indicators. With a consistent number of new and active listings, robust sales activity, significant transaction volume, and a balanced median sales price, it continues to assert 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 could be subject to change. For more accurate and up-to-date information, it is always recommended to consult with a local real estate professional.