📊 Weekly House Market Report of Los Angeles 🌴

As we move into September 2024, several key housing markets in Southern California are exhibiting varying trends, reflecting the dynamic nature of real estate in the region. From San Gabriel to Arcadia, median list prices and the Market Action Index (MAI) provide insights into the current state of the market, indicating whether conditions favor sellers or are beginning to shift towards buyers. Below is a summary of the latest data for select cities, highlighting the current trends and potential future movements.

In San Gabriel, the median list price stands at $1,249,444 with a Market Action Index (MAI) of 49, indicating a strong seller’s market. However, the MAI has decreased from last month’s 51, and inventory has risen to 32. This cooling trend suggests that while sellers still hold an advantage, the market may be stabilizing. If the MAI continues to drop, prices could experience downward pressure.

Irvine's real estate market shows a median list price of $2,970,000 and an MAI of 43, down from 53 last month. With inventory increasing to 213, Irvine is currently in a slight seller’s advantage. The market is cooling, and if the MAI continues to decline, it could signal a shift towards a buyer’s market, potentially leading to price reductions.

Chino Hills remains a strong seller’s market with a median list price of $1,100,000 and an MAI of 57, down from 62 last month. Inventory has increased to 78, and while the market has cooled slightly, sellers continue to benefit. However, the drop in MAI should be monitored closely, as further declines could pressure prices.

Diamond Bar sees a median list price of $1,513,500 and an MAI of 47, reflecting a strong seller’s market. The market remains stable, with inventory holding steady at 60. While prices have been stable, the low inventory continues to favor sellers. A significant increase in MAI could lead to price growth, but a decline might signal the beginning of a market shift.

In Walnut, the median list price is $1,750,000 with an MAI of 49, down from 53 last month. Inventory has increased to 47. Despite the cooling trend, Walnut remains a strong seller’s market. As with other markets, the MAI’s future trajectory will be crucial in determining whether prices will rise or face downward pressure.

Pasadena's market shows a median list price of $1,865,000 and an MAI of 49, unchanged from last month. Inventory has increased to 104. The market has reached a point of relative stasis, with low inventory sustaining the seller’s market. Any increase in MAI could reignite price growth, while a decrease could indicate a potential market shift.

San Marino presents a median list price of $3,899,000 and an MAI of 41, slightly up from last month’s 40. With inventory rising to 29, the market shows a slight seller’s advantage. Prices have remained flat, but the slight increase in MAI suggests that a price rise could be on the horizon if the trend continues.

Arcadia's market has cooled, with a median list price of $2,980,000 and an MAI of 37, down from 38 last month. Inventory has decreased to 89, maintaining a slight seller’s advantage. If the MAI continues to drop, the market could shift towards buyers, potentially leading to price declines.

Across Southern California, real estate markets are showing signs of cooling, with most cities experiencing a decrease in the Market Action Index and a rise in inventory. While sellers still generally hold the advantage, the trends suggest that the market could be stabilizing, and continued declines in MAI could signal a shift towards a more balanced or even buyer-favored market. Keeping a close eye on these indices will be essential for anyone looking to navigate these markets effectively in the coming weeks.