These are some of the top questions that buyers and sellers alike are constantly asking in LA. There are many opinions on these topics, so we asked a local expert, Los Angeles Keller Williams realtor Nicole Foti, to give us the inside story on what’s happening with home sales in the Los Angeles market right now. Here are the top trends Nicole identified that you need to know about:
Homes Are Taking Longer To Sell
“The Los Angeles housing market has experienced a noticeable slowdown, driven largely by ongoing economic uncertainty and elevated interest rates. As a result, homes are taking significantly longer to sell—particularly those not priced competitively—posing challenges and growing frustrations for many sellers,” says Foti.
Los Angeles Prices Have Begun to Decline
“In a notable shift, home prices have recently begun to decline for the first time in several years. This trend has led many homeowners to withdraw their listings, opting to wait for more favorable market conditions.”
LA Buyers Have More Power Than Before
“However, for buyers, this environment presents distinct advantages. With longer days on market and reduced competition, buyers now have greater flexibility, improved negotiating power, and more time to make informed decisions.”
HOT – Up & Coming LA Neighborhoods
What’s hot? Nicole says, “Emerging neighborhoods such as West Adams, Long Beach, and Inglewood are showing strong potential. These areas are gaining attention for their relative affordability and growth prospects, making them compelling opportunities for long-term real estate investment.”
For a personal consultation, contact Nicole directly at 310-871-7535 or ni****@*************up.com. “Though the market presents challenges, I’m confident I can help you with whatever you need!”
Nicole Foti
DRE #02216151
ni****@*************up.com
310-871-7535
Need Home Insurance for Your LA Home or Rental Property?
What’s hot? Nicole says, “Emerging neighborhoods such as West Adams, Long Yes, you can still get home insurance in Los Angeles, and MIS Insurance can get you a quote and bind coverage quickly. You’ve probably heard that many large carriers like State Farm have either severely limited or stopped writing new policies entirely in Los Angeles and California. They also non-renewed many existing policies, leaving thousands of homeowners scrambling for new coverage. It is a difficult situation, and the California FAIR plan is not always the best option. Many homeowners are finding out that it can be expensive, and the coverage is not as broad as a traditional home policy.
However, there is hope, and we have options with A-rated companies. Call us at 323-782-0777 for a quick quote – we have carriers for single-family homes, condos (yes, even condos, which most carriers are not accepting in CA right now), tenant-occupied and multi-unit rental properties, and short-term vacation rental homes. And yes, we have carriers who can bind same-day! Call us to discuss your situation, or fill out a quote request form, here.