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Los Angeles County Real Estate Market Update - January 2024

Los Angeles

Los Angeles County Real Estate Market Update - January 2024

Los Angeles County Real Estate Market Update - January 2024

As we embark on the journey of a new year, it's an opportune time to review the real estate market trends in Los Angeles County for January 2024. The city of Angels, known for its vibrant and diverse real estate market, has some intriguing dynamics to observe.

New Listings

The beginning of 2024 saw a significant number of new listings in Los Angeles County, with a total of 5,576 properties entering the market. This influx of new listings provides potential buyers with a wide array of options and reflects sellers' confidence in the market.

Active Listings

The active listings for the month were remarkable, standing at 9,190. This figure indicates a robust inventory level, offering a vast range of choices for those looking to invest or find their dream home in the thriving Los Angeles County real estate market.

Pending and Closed Sales

Pending sales for January were recorded at 3,061, demonstrating the strong demand for properties in the region. Furthermore, the number of closed sales was also impressive, totaling 2,825. These figures highlight the dynamic nature of the Los Angeles County real estate market, with a high volume of transactions being completed.

Closed Transaction Volume

The closed transaction volume for the month was a substantial $6,718,772,192. This significant figure underscores the considerable 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 January was 37. This relatively brief period indicates a balanced market, where properties are selling at a steady pace—a positive sign for both buyers and sellers.

Median Sales Price

Lastly, the median sales price for January 2024 was $835,000. This price point suggests a balanced market, with a healthy mix of both luxury and more affordable properties. It is a useful indicator for potential buyers and sellers to understand the overall market conditions.

In conclusion, Los Angeles County's real estate market has started 2024 with strong performance across all key indicators. With a high number of new and active listings, robust sales activity, considerable transaction volume, and a balanced median sales price, it 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 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.

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