Los Angeles, CA home prices and housing market

Los Angeles home values just slid to about eight hundred fifty-three thousand dollars, and sellers are still asking nearly a hundred thousand more. If you are thinking about selling, that gap between asking and worth is the whole story this month. The typical LA home is now worth about eight hundred fifty-three thousand dollars, down roughly 2.6 percent from a year ago. That is a real decline, not a seasonal wobble. Meanwhile, the median list price sits around nine hundred fifty thousand dollars, so a lot of sellers are still pricing for the market they remember, not the one we have. There are about three thousand four hundred homes for sale, with roughly a thousand new listings hitting in the past month, so buyers have plenty to compare you against. Homes that do sell are taking about 56 days to go under contract. Here is the catch. Only about 13 percent of listings have cut their price, which means most sellers have not accepted where the market actually is. That is why ambitious listings sit for nearly two months while realistic ones move. If you list this fall, price to today's value, not to the nine hundred fifty thousand dollars down the street, because this market still pays a fair number and punishes a hopeful one. To see where your home lands in today's market, get a free estimate at Home Value Pros dot com.