October 2021 highlights
While few big shifts happened in October compared to September, the Southern California market continued to experience increased speed and competition in 2021 compared to pre-pandemic 2019 and years prior.
- The median sale price of West LA single family homes took a nosedive. Sale prices dropped 10% to $1,457,500, a level last seen in April. Meanwhile, the median list price rose 9% as more expensive properties were listed despite the total number of listings dropping 22% month over month.
- Some homes in San Gabriel Valley drove competition. The number of single family homes listed rose 4% month over month. While 6% fewer went pending, median days on market dropped 19% and sale-to-list price ratio increased 1%, showing that the homes that did sell saw buyer competition.
- Irvine single family homes sold quickly. Median days on market dropped 29% month over month to 5 days, which represents a drop of 72% year over year from 18 days in October 2020. This is the quickest pace of sales we’ve seen in the area over multiple years, but other numbers stayed relatively flat, indicating that the swiftness is more a sign of a “new normal” than a big month-over-month change.
- San Diego has slowed for the season. Despite a slight increase in the number of single family homes listed month over month, the overall trend between the summer and now is a downward one. While a seasonal slowdown is in effect, the area still saw homes sell in a median of 7 days on market compared to 17 in October of 2019. Overall, post-pandemic single family home sales in San Diego are much quicker than before the pandemic.
Our research team analyzed the competition in select local areas.
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.