Luxury End
The luxury market improved 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 3,508 to 3,407 homes, a drop of 101 homes, or 3%. Luxury demand increased by 38 pending sales, or 9%, and now stands at 449 pending sales. With supply falling and demand rising, the Expected Market Time for luxury homes priced above $2 million decreased from 256 to 228 days. With Wall Street continuing to outperform expectations, the luxury market remains on solid footing.
Year over year, the active luxury listing inventory has increased by 420 homes, or 14%, and luxury demand has risen by 86 pending sales, or 24%. Last year’s Expected Market Time was 247 days, slower than today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million decreased from 183 to 150 days. The Expected Market Time for homes priced between $3 million and $4 million increased from 210 to 227 days. The Expected Market Time for homes priced between $4 million and $8 million decreased from 300 to 270 days. The Expected Market Time for homes priced above $8 million decreased from 768 to 767 days. Luxury is at 228 days overall. At this pace, a seller would be looking at becoming a pending sale around April 2026.
