September 2024 Market Report
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Market Statistics and Analysis
The graph below shows the average Months of Inventory (MOI) in Los Angeles County since July 2023. An MOI measures how long it would take for the current listing inventory to sell out if nothing new were listed for sale. An MOI between 3 and 6 is an indicator of a neutral market.
Last month's rise to 3.2 shows us that although the Los Angeles real estate market typically favors sellers, we have entered a more balanced market.
Key Takeaways:
• Interest rates remain steady after a slight decline last month
• Low inventory combined with lower buyer demand is leading to a more balanced market
• Despite slower sales, sellers remain in an advantageous position
September 2024 was a Neutral market*
Months of Inventory based on Closed Sales in September 2024: 3.2
| • | Up 22.8% compared to last month |
| • | Up 39.1% compared to last year |
*Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 - 6 months of inventory based on closed sales
Data for your neighborhood:
