Market Trends and Insights: March 2024 South Bay Real Estate

Market Trends and Insights: March 2024 South Bay Real Estate

  • 03/31/24

March 2024 Market Report

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Market Statistics and Analysis

The chart below shows the “Average Days on Market” and “Sold/List Price Percentage” in the County of Los Angeles since December 2022. The average days on market trend was rising and the sold/original list price ratio remains steady.
Mortgage rates are likely to remain relatively unchanged in March. A decisive drop in rates probably won't happen until the Federal Reserve signals that it's satisfied that inflation is headed toward the central bank's goal of 2%.
Key Takeaways:
  • Mortgage rates are likely to remain constant
  • Los Angeles is still in a seller’s market

February 2024 Average Days on Market trend was Rising*

Average Days on Market in February 2024: 36

0% compared to last month
Down 18.2% compared to last year

February 2024 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in February 2024: 97%

Up 1% compared to last month
Up 4.3% compared to last year

*Based on 6 month trend - Rising/Falling/Remains Steady


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