November 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 September 2023. Homes are taking approximately 20% longer to sell compared to this same time last year, likely due to a combination of reduced buyer urgency, higher interest rates, and potentially fewer cash buyers compared to a more competitive market in 2023.
For buyers, this increase in days-on-market can create opportunities to negotiate, especially with sellers motivated to close a deal before the end of the year. As for sellers, while homes are staying on the market a bit longer, staging, professional marketing, and pricing competitively from the start can help ensure a successful sale that works within your timeline.
Key Takeaways:
• Homes are staying on the market longer than they were at this time last year
• An increased days-on-market average can be potentially advantageous for buyers trying to negotiate
• Proper staging, marketing, and pricing are critical for attracting serious buyers
November 2024 Average Days on Market trend was Rising*
Average Days on Market in November 2024: 35
| • | 0% compared to last month |
| • | Up 20.7% compared to last year |
November 2024 Sold/Original List Price Ratio was Falling*
Sold/Original List Price % in November 2024: 96%
| • | Down 1% compared to last month |
| • | Down 2% compared to last year |
*Based on 6 month trend - Rising/Falling/Remains Steady
Data for your neighborhood:
