April 2024: Los Angeles Market Update

April 15, 2024

April 2024: Los Angeles Market Update

April 2024: Los Angeles Market Update

As we entered April, the current landscape of the real estate market has evidently shifted. There are two movements at play: the increase of inventory and the decrease in listing prices. Both are positive news for fatigued buyers who have been searching for some time.

In Los Angeles County, we have seen an 8.6% increase in inventory from February to March. Furthermore, there has been a decrease in home prices as nearly 15% of California home sellers dropped their listing prices by the end of March. This has led savvy home buyers to swiftly make the most of these opportunities, increasing the percentage of houses sold in Los Angeles County to 18.9% while decreasing the average sale time by nearly 20%.

Despite the increasing inventory, decreasing home prices, and slowly increasing mortgage rates, the market has not fully shifted from a seller’s market to a neutral or buyer’s market. In prime neighborhoods, the right homes are still selling at premiums in multiple offer situations, which is beneficial for any sellers looking to make moves.

For any clients wishing to take advantage of the current market, whether selling or buying, it is still crucial to ensure you have the best team on your side, searching for exclusive opportunities and negotiating for the best deals. At Highland Premiere, we take great pride in our care for our clients and our ability to navigate the market adeptly to guide our clients towards success in these dynamic times. We are always here to help, so please do not ever hesitate to reach out, whether you are starting your real estate journey or just wish to gain some knowledge about the industry.




Read our April Newsletter Here

Recent Blog Posts

Stay up to date on the latest real estate trends.

April 2024: Los Angeles Market Update

April 15, 2024

Navigating the Shift: Price Drops Create Opportunities for Buyers

Optimism is in the Air

February 5, 2024

The outlook for the 2024 housing market can probably be characterized in one word: Optimism. We are starting to see a lot more optimism this year already, coming out o… Read more

New Year, New Beginnings

January 20, 2024

As we embrace 2024, it's a time for new beginnings, and the real estate landscape in Los Angeles and Orange County is no exception. We're thrilled to share that the ho… Read more

Navigating the Current Mortgage Landscape: Rates, Trends, and Year-End Opportunities

December 20, 2023

As we approach the end of the year, we find ourselves amidst a dynamic real estate landscape, with mortgage rates taking center stage in the recent weeks. Here's a qui… Read more

Busy This Time of Year

October 31, 2023

Fall has arrived, and with it comes a noticeable softening in the real estate market. However, this change has brought forth some interesting dynamics that both buyers… Read more

A Slowdown in the Housing Market

September 29, 2023

As we step into the current landscape of the real estate market, it's evident that things have slowed down, with prospective buyers showing caution in the face of clim… Read more

Real Estate Market Update - 08/08/2023

August 9, 2023

Mortgage rates have seen a slight increase as of July 27. The 30-year fixed-rate mortgage now stands at 6.81%, up from last week's 6.78%. Comparatively, this time last… Read more

The Market Momentum This Summer

July 10, 2023

We are delighted to bring you some exciting highlights on the current state of the Greater Los Angeles and Orange County housing markets. As we delve into the luxury a… Read more

A Strong Start in Summer Sales

June 9, 2023

The residential housing market in Los Angeles and Orange County has exhibited remarkable strength, marked by high demand and limited supply. This trend shows no signs … Read more

Let's Talk

You’ve got questions and we can’t wait to answer them.