Luxury End
The luxury market slowed considerably in the past couple of weeks.
Over the past couple of weeks, the luxury home inventory priced above $2 million (the top 10% of the Los Angeles County housing market) increased from 2,073 to 2,406, a rise of 333 homes, or 16%. Luxury demand decreased by 12 pending sales, down 5%, to 231. The Expected Market Time for luxury homes priced above $2 million increased from 256 to 312 days, the highest level since January 2020. Expect substantial improvement each week for the next six weeks.
Year over year, the active luxury listing inventory has increased by 78 homes, or 3%, and luxury demand is down by 20 pending sales, or 8%. Last year’s Expected Market Time was 278 days, faster than today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million increased from 153 to 186 days. The Expected Market Time for homes priced between $3 million and $4 million increased from 258 to 371 days. The Expected Market Time for homes priced between $4 million and $8 million increased from 333 to 364 days. The Expected Market Time for homes priced above $8 million increased from 889 to 1,265 days. Luxury is at 312 days overall. At this pace, a seller would be looking at becoming a pending sale around November 2026.
