Los Angeles February 2025 Market Update

Hi, there. Ana Mendoza here. I hope that you're having an amazing rainy day. It's crazy right now with this weather here in LA. But I wanted to give you your year-over-year market update for homes that have sold under a million dollars in the city of Los Angeles for the month of *February, now that we have those numbers.

So the market is shifting and we had more days on market compared to last year. And the market did drop about 4000 compared to last year. Not much. And although a little bit of more houses came on the market, so we had about five homes come onto the market compared to last year. Five more homes. And these are the numbers for homes that have sold under a million dollars in the city of Los Angeles, which basically pulls a bunch of homes from there.

Right now, we're basically going into spring or we're pretty much in spring. We're seeing all these showers and rain, and so whenever that happens people get motivated to launch their home on the market and get it prepared to make moves. So if you're one of those, I would love to sit down with you, give you a strategy to see what is the best way to get your home prepared, what your neighborhood is doing, give you some data from there. Because you want to make informed decisions, not just, "I think my house is worth a million dollars," when it's really not worth that much. Also taking into consideration all the upgrades. Maybe your home is worth a million dollars because you have done beautiful updates to the house. And so we actually go inside the house and we don't really know and we can't really give you accurate information.

If you're a buyer right now, there is... We still have limited inventory. But whatever inventory is out there, it's good. Some houses are sitting on the market a little bit longer than average, which gives you leverage to negotiate to your benefit. There is a ton of programs out there still with our partners at House America that we can sit down and discuss. And if you want to upsize or downsize and just get prepared and maybe do that during summer, we would love to help you.

So I hope that this year-over-year market update kind of gives you a glimpse of what's going on in our LA market. Reach out to me if you have any questions. I hope that you have an amazing rainy day here in LA. And next week it's going to be insane again, so have a good one.