The volume of single-family homes sold in March 2022 in the Los Angeles metro area was 6,540, a decline of 21% from December 2021.
The Median Sale Price of single-family homes in the area was $970,000 in the quarter ending March 2022, an increase of 14% over the same period in 2021, while the Median Sale Price per sqft of single-family homes moved to $585, indicating a rise of 18% over the same period.
The on-market homes also showed an increasing trend. The volume of new single-family homes listed in the area was 20,450 in the quarter ending March 2022, an increase of 21% over the previous quarter. There were 5,650 properties pending closure in the area, a 17% increase from December 2021.
Learn more about the metrics in PropMix Market Insights.