In the past couple of weeks, the luxury inventory of homes priced above $2 million (the top 10% of the Los Angeles County housing market) increased from 3,244 to 3,289 homes, up 45 homes, or 1%. Luxury demand increased by 32 pending sales, up 8%, and now sits at 444 pending sales. With demand rising faster than supply, the Expected Market Time for luxury homes priced above $2 million decreased from 236 to 222 days. Wall Street’s continued volatility has impacted Los Angeles County’s luxury market.
Year over year, the active luxury listing inventory is up by 840 homes, or 34%, and luxury demand is up by 32 pending sales, or 8%. Last year’s Expected Market Time was 181 days, much faster than today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million decreased from 155 to 142 days. The Expected Market Time for homes priced between $3 million and $4 million decreased from 213 to 206 days. The Expected Market Time for homes priced between $4 million and $8 million decreased from 319 to 270 days. The Expected Market Time for homes priced above $8 million increased from 845 to 1,028 days. At 1,028 days, a seller would be looking at placing their home into escrow around February 2028.
