January 2021 Market Update: Southern California

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Key takeaways for the month

The Southern California market tends to be volatile and we see that reflected at the start of 2021. 

  • East LA has grown since the start of 2020. The median sale price for the area steadily increased over the last six months of 2020 and continued that growth with a 3.80% increase from December to January. Year over year, January sale prices are up 7.14% and we expect to see that trend continue. Even if February sees a slowdown, the year-over-year increase will likely remain. 
  • Across the region, homes are selling more quickly. Days on market for single family homes decreased month over month and year over year, indicating increased competition. 
  • Select properties in San Gabriel Valley and East LA are competitive. The number of single-family homes listed increased month over month by 57.50% and year over year by 127.71%, but the number pending stayed almost flat with a 4.84% decrease month over month. This indicates that not all homes are getting offers, but the ones that are tend to see multiple offers. East LA sees a similar trend.

Competition snapshot

Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.

Sale Price

List Price

Sale Price Compared to List Price

Days on Market

Number of Properties Listed

Number of Properties Pending Sale

Number of Properties Sold

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

San Gabriel Valley data is for Pasadena and Arcadia.

Irvine data is for the city of Irvine.

East LA data is for La Verne, Rowland Heights, Diamond Bar, West Covina, Hacienda Heights, Chino, and Ontario.

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