August 2026: Los Angeles Market Update
As we move through August, we hope everyone is enjoying the final stretch of summer. This time of year often brings a mix of travel, preparation for the school year, and renewed focus heading into fall, and we are grateful to remain connected with our clients and community during this busy season.
On the market front, the Los Angeles residential real estate market remained active in July, even as pricing adjusted slightly from June. Per the MLS, the median sale price was $1,370,000 in July, compared with $1,398,000 in June, representing a 2.0% month-over-month decrease. At the same time, closed sales increased from 527 in June to 547 in July, representing a 3.8% month-over-month increase. The rise in homes sold demonstrates that buyers are still moving forward, but the slight moderation in pricing also shows that they are continuing to evaluate value carefully and respond most strongly to homes that are well aligned with current market conditions.
Mortgage rates remained relatively steady in mid-August, with the 30-year fixed-rate mortgage currently averaging 6.67%, according to Freddie Mac. While rates have not moved dramatically week to week, they have been trending higher since the spring, which continues to shape buyer behavior and affordability. As monthly payments remain a central consideration, buyers are becoming more discerning about price, condition, and long-term value. For sellers, this makes thoughtful pricing and preparation especially important, as homes need to meet the expectations of today’s market rather than rely solely on broader demand.
Taken together, July’s numbers point to a market that still has meaningful activity, but where strategy matters more than ever. More homes are selling, which is encouraging, but buyers are not approaching the market without caution. The strongest results continue to come from properties that are presented well, priced appropriately, and positioned clearly against the competition.
At Highland Premiere, we have seen an exciting period of activity, with multiple new listings recently launched and additional homes preparing to come to market at the end of August and into September. We continue to support our clients across a range of goals, whether they are preparing for a traditional market launch, exploring an off-market opportunity, or navigating a more specific real estate need. That tailored approach recently allowed us to close a unique off-market Phase 2 home, and we are grateful for the trust our clients continue to place in us.
As we look ahead to the fall market, we remain grateful to serve as a trusted resource for our clients and community. We are especially excited for the season ahead and the many opportunities it brings to connect, celebrate, and continue serving the people and neighborhoods we are fortunate to be part of.
