📊 Weekly House Market Report of Los Angeles 🌴

As of mid-August 2024, the real estate markets across San Gabriel Valley and nearby cities reflect a dynamic yet cooling environment. In this blog, we’ll explore the current trends in several key markets, focusing on the Market Action Index (MAI) and what it means for buyers and sellers alike.

The median list price in San Gabriel, currently stands at $1,298,000, with the MAI at 51—down from last month’s 53. Inventory has risen to 25. Despite the MAI’s decline, the market remains a strong seller’s market. However, the cooling trend suggests that prices may plateau unless the MAI sees an upward trend.

Irvine’s real estate market remains robust, with a median list price of $2,889,441 and an MAI of 53, down from 60 last month. Inventory has increased to 196, indicating a strong seller’s market. Although the market is cooling, demand still outpaces supply. If the MAI increases, expect prices to rise; otherwise, a continued decline could apply downward pressure on prices.

Chino Hills shows a median list price of $1,180,000 and a relatively high MAI of 62, though it has decreased from last month’s 67. With inventory up to 75, the market remains strongly favorable for sellers. As with other areas, if the MAI continues to drop, price adjustments may follow.

Diamond Bar’s market exhibits a median list price of $1,499,000, with a slight increase in the MAI to 48 from last month’s 47. Inventory has decreased to 58. While still in a seller’s market, the slight uptick in MAI coupled with falling prices suggests that downward pricing pressure may be light or variable in the coming weeks.

In Walnut, the median list price is $1,680,000, with an MAI of 53, marginally up from 52 last month. Inventory has risen to 41. The market remains stable in the seller’s zone, with low inventory keeping prices from falling. However, a sustained increase in the MAI could signal a return to price growth.

Pasadena’s real estate market shows a median list price of $1,660,000 and an MAI of 49, down from 53 last month. Inventory has grown to 102. The consistent cooling and increased inventory have started to push prices lower. If the MAI continues to drop, further price declines could be on the horizon.

San Marino presents a median list price of $3,780,000 and an MAI of 40, slightly down from 41 last month. With inventory decreasing to 29, the market shows a slight seller’s advantage. Prices have been flat, and if the MAI does not increase, there may be slight downward pressure on prices.

Arcadia’s market, with a median list price of $3,414,000, shows an MAI of 38, down from 41 last month. Inventory has risen to 96. The market has been cooling, and while still in a seller’s zone, prices may begin to fall if the MAI continues its downward trajectory.

The real estate markets across San Gabriel Valley and surrounding areas are cooling but remain largely in the seller’s zone. Inventory is increasing, and MAI is declining, signaling potential shifts in the market dynamics. Sellers may still find favorable conditions, but they should remain vigilant. Buyers, on the other hand, might see more opportunities if these trends continue. Keep an eye on the Market Action Index, as it will be a key indicator of where prices are heading next.