Luxury End
The luxury market slightly improved 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 2,743 to 2,824, a rise of 81 homes, or 3%. Luxury demand increased by 28 pending sales, up 7%, to 423. The Expected Market Time for luxury homes priced above $2 million decreased from 208 to 200 days, the second fastest reading of the year. Due to the increased volatility of Wall Street and the uncertainty surrounding the economy, luxury may slow from here.
Year over year, the active luxury listing inventory has decreased by 202 homes, or 7%, and luxury demand is up by 4 pending sales, or 1%. Last year’s Expected Market Time was 217 days, slightly slower than today.
In the past two weeks, the Expected Market Time for homes priced between $2 million and $3 million decreased from 138 to 130 days. The Expected Market Time for homes priced between $3 million and $4 million decreased from 188 to 182 days. The Expected Market Time for homes priced between $4 million and $8 million decreased from 288 to 272 days. The Expected Market Time for homes priced above $8 million increased from 497 to 668 days. Luxury is at 200 days overall. At this pace, a seller would be looking at becoming a pending sale around October 2026.
