Los Angeles June and July 2025 Market Update

Hey, there. Ana Mendoza, here. I hope that you're having an amazing day.

I am here to give you your year-over-year market update for homes that have sold June/July. We are in mid-August as I'm doing this video, but it's better late than never. The year-over-year market update are for homes that have sold under 1 million dollars from June through, I guess, mid-August, from 2024 through 2025. Kind of gives you an idea of what the market is doing. 

July was definitely a much better month than June. Things started to heat up. Houses were selling for pretty much a smaller amount, so it was actually 2K less last month, or for the month of June, was 7K less, compared to the previous years. We are seeing a little flexibility on the market, but if houses are priced accurately, you are still seeing them fly off the shelf. And that is pretty much throughout the country. In Illinois, it's the same thing. If houses are in a really good area, literally within those couple of days or hours of it coming on the market, it will end up going into escrow. 

The days on market are a little bit longer, compared to previous years. We are hitting the 50-day mark. So, you are seeing more homes on the market, which also gives a lot of opportunity for buyers to negotiate to their advantage. But it doesn't mean that, if a really good home comes on the market, if it's in a good city, prime location, that it's not going to go into escrow within 48 hours, just like COVID times. That's still happening.

If you want information on that or have any questions on your specific area, please reach out. I'm happy to be of service. I hope that this video gave you some insight on the market. We're hoping that rates start getting a little bit flexible. They're all over the place. We are hoping that they, hopefully, to the lower 6's or, I don't know, I think my team leader in LA was being ambitious by saying, hopefully, in the 5's. But just from experience, I don't agree. But miracles do happen.

Anyway, hope that this video finds you amazing. Have an amazing rest of August. And we will be in touch.