Mid-September 2020 Real Estate Market Update

September is sliding by at a good clip, and Los Angeles real estate sales are moving fast, too! Throughout LA, home sale prices are soaring. Comparing September sales, year to yearalmost every LA community has seen price gains of 5% or greater. And, in many communities, the number of home sales is back to where it was in 2019 or even higher, despite a significant lull in the first months of the pandemic. With our homes taking on an even greater significant role in most of our lives these days, it’s no wonder so many people are looking to own their first home or make a move to a home that better accommodates their current lifestyle. And the historically all-time low interest rates are fueling this possibility for many. For the first time in history the average median home price in California is now over $700,000. Here’s how we compare in Los Angeles. This is just a small sampling – for home sales stats in any other LA community, just ask! 

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Source: CRMLS, The MLS

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