Los Angeles, CA housing market

Los Angeles home values are down about 4 percent from a year ago, and that slide is quietly shifting negotiating power toward buyers. The typical home here is now worth roughly eight hundred seventy-three thousand dollars, a real decline that changes the math for anyone weighing a sale this summer. Here is what the cooling looks like on the ground. There are three thousand three hundred seventy-two homes for sale right now, with about one thousand one hundred new listings hitting the market in the past month, so buyers have more to choose from than they have had in a while. Homes are taking about 49 days to sell, which means a good listing no longer disappears in a weekend. But this is not a market in distress. Only about 12 percent of active listings have cut their price, a sign that most sellers are holding firm rather than chasing the market down. The tension shows up in one number: the median list price sits around nine hundred nine thousand dollars, well above the typical value. That gap is where deals are getting made, and where overpriced homes are sitting. The takeaway for Los Angeles: buyers finally have room to negotiate, and sellers who price to today's market, not last year's, are the ones reaching the closing table.