Housing market report for December 2021: Southern California

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November 2021 highlights

The LA real estate market evened out and stabilized throughout November. Most notably list prices and sale prices came back in sync as the days on market rose to a more manageable 14 days. 

  • Median sale prices for homes in L.A. saw a greater jump from November to December Going into the autumn, the continual rise in home sale prices slowed to 6% growth from October to November. That number climbed at the end of the year to a 9% growth from November to December, landing at $1,630,000 for an L.A. home.
  • List prices were a good indicator of a home’s true value The median sale price of a home in L.A. was within 1% of the area’s median list price. Sellers are still getting a little over the asking but home list prices tend to reflect a true representation of the home’s actual value.  
  • Condo prices were down in the San Gabriel Valley Prices for multi-family properties in the San Gabriel Valley have experienced a slow decline from their peak in the summer but are still 20% higher than the year low in January.
  • The San Diego market further slowed at the end of the year Fewer homes were listed and sold in San Diego in December than during the previous peak in the autumn of this year. But both metrics were down so inventory remained mostly flat.

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.

Sale price

List price

Sale price compared to list price

Days on market

Number of properties listed

Number of properties pending sale

Westside LA data is for Culver City, Santa Monica, Century City, Sawtelle, and Redondo Beach.

San Gabriel Valley data is for Pasadena, Arcadia, La Verne, Rowland Heights, Diamond Bar, West Covina, and Hacienda Heights.

Irvine data is for the city of Irvine.

San Diego data is for postal codes 92130, 92131, 92129, 92128, 92064, 92127, 92009, 92010 92120, 92024, 92117, 92122, 92126, 92121, 92104, 92101.

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