02/09/2023
C.A.R.’s Dec 2022 resale housing report shows that in Los Angeles County, homes are still moving fast. The median days on market is 25.5 days. But the sales of existing single-family homes are massively down 47.7 percent from the previous year. If you’re looking to buy a house in LA’s real estate market, you may still end up paying slightly more than the asking price. The average sale price to list price ratio in LA was 97.0% in December. In December 2021, it was 102.1% and in Nov 2022, it was 97.3%. High mortgage rates are leading to less number of buyers bidding up the prices of homes.