Housing market report for August 2021: Southern California

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Updated September 8, 2021

August 2021 highlights

Across Southern California, August brought signs of an expected slowdown after the peak homebuying season. However, the region continues to see sale-to-list price ratios over 100%, the norm throughout 2021 thus far and a significant increase from recent years. 

  • Single family home prices on the Westside reached a multi-year high. At a median of $1.655M, sale prices for single family homes on the Westside were up 6% month over month and 34% year over year in August. However, homes are selling more slowly with median days on market rising 23%, so the increase isn’t likely due to increased competition. A few high-end homes may have influenced the number. Meanwhile, the condo market on the Westside slowed significantly, with median sale price dropping 9%.  
  • The San Gabriel Valley market slowed. With the number of pending single family homes dropping 22% month over month and the number listed dropping 21%, San Gabriel Valley saw the onset of an expected seasonal decrease in activity. 
  • Irvine saw no significant changes for the month. Median days on market fell in Irvine and median sale price rose slightly, but these changes were likely due to a small number of properties becoming popular. Overall, the small region saw no impactful month-over-month changes in August, but continued to operate at levels far outpacing previous years, with sale-to-list price ratio coming over 100% for the seventh consecutive month. 
  • San Diego saw the start of a slowdown. The median sale price in San Diego saw no significant change in August, while condo prices rose 3%. Days on market were flat for all property types. Meanwhile, sale-to-list price ratio dropped slightly, indicating the start of expected seasonal slowdown in the market.

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.

Real estate competition report for Westside LA
Real estate competition report for San Gabriel Valley
Real estate competition report for San Diego

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 and Arcadia.

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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