📊 Weekly House Market Report of Los Angeles 🌴

The housing market in Southern California remains dynamic as we head into the fall season. While some areas continue to see steady demand, others are experiencing a cooling trend. This blog post summarizes the latest updates from several key cities, highlighting current market conditions and future expectations.

The median list price in San Gabriel stands at $1,324,000, with a Market Action Index (MAI) of 53, indicating a strong seller’s market. Inventory remains steady at 28, and while prices have plateaued, the upward trend in sales relative to inventory could soon push prices higher. Sellers can still take advantage of favorable conditions if the market momentum continues.

In Irvine, the median list price is $2,799,000, with a slightly cooler MAI of 40 compared to last month’s 41. Inventory has decreased to 194, indicating continued demand in a market that still favors sellers. However, as the market cools, it’s important to monitor for any potential downward pressure on prices should the MAI fall into the buyer’s zone.

The Chino Hills market shows signs of cooling with an MAI of 48, down from last month’s 53. The median list price is $1,049,000, and inventory has decreased to 85. This uptick in available homes has begun to drive prices down slightly, and the trend may continue if the market moves further toward a buyer's market.

Diamond Bar sees a median list price of $1,585,000 with an MAI of 45, reflecting a strong seller’s market. Inventory remains stable at 56. Prices have flattened, but as long as demand holds, sellers could still see favorable outcomes. Should the MAI climb, expect prices to follow suit.

Walnut’s median list price is $1,699,999, and its MAI has dipped to 43 from 47 last month. Inventory has decreased to 47. Although the market is cooling, it remains within the seller’s advantage zone. If the MAI continues to decline, prices may face downward pressure.

In Pasadena, the median list price is $1,789,000, with an MAI of 45, down from 49. Inventory has decreased to 97, which could lead to increased competition among sellers. While the market is still favorable for sellers, the cooling trend suggests prices may not rise further in the short term.

San Marino’s luxury market, with a median list price of $4,500,000, has an MAI of 39, indicating a slight seller’s advantage. Inventory has decreased to 27, and prices have plateaued. The MAI drop suggests that buyers may have more leverage moving forward unless demand picks up.

Finally, Arcadia sees a median list price of $3,490,000 and an MAI of 37, down slightly from last month. Inventory remains stable at 82, and the market is balanced between sales and available homes. However, low inventory continues to support prices in this slight seller’s market.

Across Southern California, market conditions are cooling in many areas, though most remain in the seller’s zone. While prices have plateaued in several cities, demand has kept inventory low enough to maintain a seller’s advantage. As we move further into the year, it will be crucial to watch the Market Action Index in each city. If it begins to rise again, prices could follow, but a consistent decline may signal increased opportunities for buyers.