As a real estate expert, I am often asked about the current state of the market in Los Angeles County, CA. With its vibrant cities, stunning beaches, and diverse culture, it's no surprise that many people are interested in purchasing properties in this area. So, just how many properties are currently for sale in Los Angeles County?
The Numbers
Based on recent data from the California Association of Realtors, there are currently 13,000 properties for sale in Los Angeles County. This includes single-family homes, condos, townhouses, and multi-family properties.While this may seem like a high number, it is actually lower than the average number of properties for sale in the county over the past few years. In 2019, there were 15,000 properties for sale in Los Angeles County. In 2018, there were 17,000 properties for sale. And in 2017, there were 19,000 properties for sale. So while there is still a significant number of properties on the market, we are seeing a downward trend in inventory.
The Impact of COVID-19
The decrease in inventory can be attributed to a few factors, one of which is the ongoing COVID-19 pandemic.The pandemic has caused many sellers to hold off on listing their properties due to economic uncertainty and health concerns. Additionally, with stay-at-home orders and social distancing measures in place, it has been more challenging for buyers to view properties and make purchases. However, despite these challenges, the real estate market in Los Angeles County has remained relatively stable. In fact, the median home price in the county has increased by 8.5% compared to this time last year. This is a testament to the resilience of the market and the continued demand for properties in this area.
Where Are the Properties Located?
Los Angeles County is a vast and diverse area, with over 10 million residents and 88 cities.So where exactly are these 13,000 properties for sale located?The majority of properties for sale can be found in the more densely populated areas of the county, such as Los Angeles, Long Beach, and Santa Monica. However, there are also properties available in more suburban and rural areas, such as Palmdale, Lancaster, and Santa Clarita. It's worth noting that the location of properties for sale can also vary greatly in terms of price. For example, a single-family home in Beverly Hills will likely have a much higher price tag than a similar property in Lancaster. So it's essential to consider both location and budget when searching for properties in Los Angeles County.
The Types of Properties Available
As mentioned earlier, the 13,000 properties for sale in Los Angeles County include a variety of property types.Let's take a closer look at what's available.
Single-Family Homes
The most common type of property for sale in Los Angeles County is single-family homes. These are standalone houses that typically have a yard and are not attached to any other properties. They range in size from small bungalows to large mansions and can be found in both urban and suburban areas.Condos
Condos are another popular type of property for sale in Los Angeles County. These are typically smaller units that are part of a larger building or complex.They often have shared amenities, such as a pool or gym, and may be more affordable than single-family homes.
Townhouses
Similar to condos, townhouses are also part of a larger complex. However, they are typically larger and may have multiple levels. They often have a small yard or patio and may be more affordable than single-family homes in the same area.Multi-Family Properties
Multi-family properties, such as duplexes and apartment buildings, are also available for sale in Los Angeles County. These properties can be a great investment opportunity for those looking to generate rental income.The Bottom Line
So, to answer the question of how many properties are currently for sale in Los Angeles County, the answer is 13,000.While this number may fluctuate slightly in the coming months, it's clear that there is still a demand for properties in this area despite the challenges posed by COVID-19. Whether you're looking to buy or sell a property in Los Angeles County, it's essential to work with a knowledgeable and experienced real estate agent who can guide you through the process and help you achieve your goals.
