📊 Weekly House Market Report of Los Angeles 🌴

The real estate landscape in Southern California shows a variety of trends this week, with varying levels of seller advantage across multiple cities. The Market Action Index (MAI), a measure of supply and demand, plays a crucial role in understanding these dynamics and their potential impact on prices. Here’s a breakdown of recent market conditions in several prominent areas, including San Gabriel, Irvine, Chino Hills, Diamond Bar, Walnut, Pasadena, San Marino, and Arcadia.

With a median list price of $1,299,000 and an MAI of 45, San Gabriel remains in a strong seller’s market, although this is slightly cooler than last month’s MAI of 49. Inventory remains at 25 homes, which continues to maintain an advantage for sellers. However, the cooling trend suggests that if the MAI continues to drop, buyer interest could increase, possibly exerting downward pressure on prices. For now, the current balance holds, but future changes in demand could impact price stability.

Irvine is experiencing a slight seller’s advantage, marked by an MAI increase from 40 to 42. With a high median list price of $2,824,500, the Irvine market remains in a plateau phase for prices. A notable decrease in inventory to 162 homes might influence pricing trends, especially if the upward trend in MAI continues, reinforcing the potential for future price growth as inventory tightens.

In Chino Hills, the median list price is $1,174,000, and the MAI has decreased from 47 to 46, yet it’s still positioned in a strong seller’s market. Inventory has decreased to 90 homes. Should demand weaken further, we might see the first signs of buyer leverage in this previously heated market.

Diamond Bar shows a similar cooling pattern, with the MAI at 41, down from 43 last month. The median list price sits at $1,494,000, and inventory has decreased to 62 homes. While the market is still in the seller’s zone, sustained drops in the MAI could give buyers more influence over pricing.

Walnut’s market conditions reflect those of a slight seller’s advantage, with an MAI of 41 and a median list price of $1,645,000. Inventory has fallen to 45 homes, which supports the current seller’s market stance, even as the overall cooling pattern persists. As with other cities, any significant changes in the MAI could either reinforce or reduce this advantage.

Pasadena continues to hold a strong seller’s market, with an MAI of 46, a slight increase from 45 last month. The median list price is $1,804,500, and inventory has stabilized around 98 homes. Despite the cooling trend, Pasadena’s tight inventory supports the seller’s market, suggesting that demand remains strong enough to uphold current price levels, at least in the short term.

San Marino’s market shows signs of cooling, with an MAI of 36, a drop from last month’s 39, and an impressive median list price of $3,890,000. Inventory has increased to 29 homes, adding some balance to the market. Although sellers still hold an advantage, the steady decrease in the MAI points to potential shifts if this trend continues.

With an MAI of 38 (up from 37 last month), Arcadia remains in a slight seller’s advantage. The median list price is $3,200,000, and inventory has fallen to 81 homes. Prices have plateaued, and if the MAI continues to rise, we may see upward pressure on prices as the demand grows relative to available homes.

Overall, Southern California’s real estate market exhibits a gradual cooling trend, although most cities remain in a seller’s advantage or strong seller’s market. Key indicators like inventory levels and the Market Action Index hint at potential shifts. Should the MAI drop consistently, buyers might gain leverage, particularly in cities with rising inventory. On the other hand, any upward trend in the MAI could signal future price increases, as demand would again outpace supply. This week’s data reminds both buyers and sellers to keep a close eye on MAI movements as these trends unfold across the region’s dynamic real estate market.