Luxury End
The luxury market did not change much over 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 3,132 to 3,230, a rise of 98 homes, or up 3%. Luxury demand increased by 23 pending sales, up 6%, to 435. With demand rising faster than supply, the Expected Market Time for luxury homes priced above $2 million decreased from 228 to 223 days. Like the rest of the market, the luxury market is taking an unexpected turn upward.
Year over year, the active luxury listing inventory has decreased by 246 homes, or 7%, and luxury demand is up by 28 pending sales, or 74%. Last year’s Expected Market Time was 256 days, slower than today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million decreased from 149 to 134 days. The Expected Market Time for homes priced between $3 million and $4 million decreased from 233 to 229 days. The Expected Market Time for homes priced between $4 million and $8 million increased from 263 to 297 days. The Expected Market Time for homes priced above $8 million increased from 886 to 1,015 days. Luxury is at 223 days overall. At this pace, a seller would be looking at becoming a pending sale around December 2026.
