The luxury market has seen little change over 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) decreased from 3,294 to 3,282 homes, a drop of 12 homes, nearly unchanged. Luxury demand decreased by six pending sales, or 1%, and now stands at 420 pending sales. With demand falling slightly faster than supply, the Expected Market Time for luxury homes priced above $2 million increased from 232 to 234 days. So far, the government shutdown has not impacted the Los Angeles luxury market.
Year over year, the active luxury listing inventory has increased by 250 homes, or 8%, and luxury demand has risen by seven pending sales, or 2%. Last year’s Expected Market Time was 220 days, slightly faster than today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million increased from 163 to 165 days. The Expected Market Time for homes priced between $3 million and $4 million increased from 205 to 223 days. The Expected Market Time for homes priced between $4 million and $8 million increased from 267 to 269 days. The Expected Market Time for homes priced above $8 million decreased from 783 to 508 days. Luxury is at 234 days overall. At this pace, a seller would be looking at becoming a pending sale around June 2026.
