Q2 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 March 2023. The average days on market trend were falling and the sold/original list price ratio remains steady. Homes are selling fast in Los Angeles and more homes are being sold above the asking price.
The average rate on a 30-year mortgage dipped to just below 7%. According to Freddie Mac rates will modestly decline over the remainder of 2024.
Key Takeaways:
• Mortgage rates are slightly lowering
• Homes are selling faster than before
May 2024 Average Days on Market trend was Falling*
Average Days on Market in May 2024: 28
| • | Down 3.4% compared to last month |
| • | Down 12.5% compared to last year |
May 2024 Sold/Original List Price Ratio Remains Steady*
Sold/Original List Price % in May 2024: 98%
| • | Down 1% compared to last month |
| • | 0% compared to last year |
*Based on 6 month trend - Rising/Falling/Remains Steady
Data for your neighborhood:
