Leave a Message

Thank you for your message. We will be in touch with you shortly.

March 2025: Los Angeles Market Update

March 7, 2025

March 2025: Los Angeles Market Update

March 2025: Los Angeles Market Update

As we enter March, the Los Angeles real estate market continues to feel the impact of the devastating January wildfires, which have displaced thousands of residents and heightened demand for rental properties. The fires, particularly in areas surrounding Pacific Palisades and Altadena, have significantly tightened housing supply, pushing more buyers and renters into an already competitive market. Real estate professionals and local organizations are working together to provide temporary housing solutions, further stimulating lease activity.

Meanwhile, home prices have remained resilient despite economic uncertainty, with the median home price in Los Angeles County reaching approximately $883,312, a 3.9% increase from last year, per the MLS. Sales activity also showed a modest rebound with the number of homes sold rising 4.6% from January to February 2025. The rise in sales may be attributed to heightened purchasing activity among displaced residents, coupled with a decline in mortgage rates. Mortgage rates have been on a decline since January, currently landing at 6.63% for the 30yr fixed rate mortgage, per Freddie Mac. The market remains somewhat competitive, with 41.3% of homes selling above the asking price and the average home receiving multiple offers.

Looking ahead, the coming months will be shaped by how wildfire-displaced residents navigate their rebuilding and relocation decisions along with the effects of inventory levels and economic factors. With inventory still limited and mortgage rates stabilizing, demand is expected to remain steady, reinforcing Los Angeles’ position as a challenging but resilient housing market, with the California Association of Realtors forecasting a 10.5% rise in home sales for the year.

In an ever dynamic real estate market, we at Highland Premiere are dedicated to helping our community navigate these uncertain times with an unwavering commitment to care and integrity. No matter where you are in your real estate journey, you can always rely on Highland Premiere, the hardest working team in real estate. 

 

Read our March Newsletter Here

 

Recent Blog Posts

Stay up to date on the latest real estate trends.

Los Angeles Wildfire Cleanup: Phase 1 Complete, Phase 2 Underway

March 9, 2025

The devastating January 2025 Eaton and Palisades wildfires, which scorched over 37,000 acres and destroyed thousands of homes, left many Los Angeles residents facing a… Read more

March 2025: Los Angeles Market Update

March 7, 2025

As we enter March, the Los Angeles real estate market continues to feel the impact of the devastating January wildfires, which have displaced thousands of residents an… Read more

February 2025: Los Angeles Market Update

February 11, 2025

As we enter February, we are mindful of the effects of the devastating January wildfires on our Los Angeles neighbors and communities. Members of the Los Angeles real … Read more

The Los Angeles Ultimate Valentine’s Day Guide

February 2, 2025

As our city rebuilds, this Valentine’s Day Weekend is the perfect opportunity to lean into the love with our partners, family and friends. Los Angeles is bursting with… Read more

Lunar New Year Events

January 23, 2025

As Los Angeles prepares to ring in the Lunar New Year, the festive spirit is tempered by the recent devastation caused by wildfires that have swept through our communi… Read more

Child Donations for Fire Victims

January 15, 2025

Our hearts are with all those impacted by the wildfires in Los Angeles County, our first responders, firefighters and our community who are coming together to support … Read more

Happy Holidays!

December 27, 2024

As we reflect on this past year, Dennis and I want to express our deepest gratitude. Leading Highland Premiere has been an incredible journey, made possible by the har… Read more

The Ultimate Guide to New Year’s Eve in Los Angeles 2025

December 15, 2024

It is never too early to start planning your New Year’s Eve celebrations, and Los Angeles is the perfect city to ring in the new year. Whether you’re into elegant part… Read more

Step Into Holiday Magic: Ways L.A. Turns Into a Festive Wonderland

December 9, 2024

Los Angeles may not have frosty temperatures or natural snowfalls, but it more than makes up for it with dazzling lights, immersive experiences, and whimsical holiday … Read more

Let's Talk

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