📊 Weekly House Market Report of Los Angeles 🌴

The real estate market across Southern California continues to exhibit diverse trends, with each city displaying its unique dynamics. Here's a closer look at how the markets in San Gabriel, Irvine, Chino Hills, Diamond Bar, Walnut, Pasadena, San Marino, and Arcadia are shaping up this week.

The housing market in San Gabriel remains a strong seller's market, with the Market Action Index (MAI) holding steady at 48. The median list price is $1,055,000, and inventory stands at 30 properties. Despite recent price declines, low supply continues to support a seller's market. Any increase in market activity could stabilize or drive prices upward.

Irvine’s market reflects a slight seller's advantage, with a MAI of 43, down from 44 last month. The median list price is $2,985,000, with inventory increasing to 156 homes. Though the market is steady, the low inventory keeps sellers in control. If the market gains momentum, price increases may resume.

Chino Hills continues to thrive as a strong seller's market with a MAI of 49, unchanged from last month. The median list price is $1,252,000, while inventory has decreased to 64 properties. Although prices have plateaued, strengthening sales relative to inventory indicate potential upward movement in prices soon.

Diamond Bar’s market shows signs of cooling, with the MAI dropping to 36 from last month’s 38. The median list price is $1,450,000, and inventory has decreased to 57 homes. While still in a seller’s market zone, consistent declines in the MAI could signal future price pressures. If demand picks up, prices may stabilize or increase.

Walnut reflects a similar cooling trend, with the MAI dipping to 38 from 42. The median list price is $1,662,500, and inventory has grown to 50 homes. Though sellers maintain a slight advantage, declining market activity may lead to price pressures unless demand rebounds.

The market in Pasadena is heating up, with the MAI rising slightly to 47 from 46. The median list price is $1,755,000, and inventory has decreased to 78 properties. With low inventory levels and strong seller dynamics, the market could see upward price trends if activity intensifies.

San Marino exhibits a slight seller's advantage, with the MAI down to 36 from 37. The median list price is a significant $3,990,000, while inventory remains low at 23 properties. Prices are currently plateaued, but future changes in market activity could drive shifts either upward or downward.

Arcadia’s market is showing cooling signs with the MAI at 35, down from 38 last month. The median list price is $3,180,000, and inventory has dropped to 75 homes. While sellers retain some leverage, the declining MAI may lead to downward pricing pressure if the trend persists.

Southern California’s real estate markets are presenting varied conditions, with most cities maintaining a seller’s advantage but showing signs of cooling. Markets like Chino Hills and Pasadena hint at potential upward trends, while others, including Diamond Bar, Walnut, and Arcadia, could see shifts depending on changes in the MAI. Buyers and sellers should closely monitor these indicators to make informed decisions as we approach the end of 2024.