Luxury End
The luxury market slowed in the past couple of weeks.
Over 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 3,554 to 3,585 homes, a rise of 31 homes, or 1%. Luxury demand decreased by 16 pending sales, down 4%, and now sits at 409 pending sales. With supply rising and demand falling, the Expected Market Time for luxury homes priced above $2 million increased from 251 to 263 days, its highest level since mid-January’s 278-day level. Expect the luxury market to continue to moderate and cool somewhat during the Summer Market.
Year over year, the active luxury listing inventory has increased by 564 homes, or 19%, and luxury demand has risen by 57 pending sales, or 16%. Last year’s Expected Market Time was 257 days, similar to today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million increased from 166 to 184 days. The Expected Market Time for homes priced between $3 million and $4 million increased from 237 to 238 days. The Expected Market Time for homes priced between $4 million and $8 million decreased from 324 to 309 days. The Expected Market Time for homes priced above $8 million increased from 915 to 1,052 days. Luxury is at 263 days overall. At this pace, a seller would be looking at becoming a pending sale around April 2026.
