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Los Angeles County: asking prices match a three-and-a-half-year low as buyers gain leverage

By Dr. Hamid Rowshan, Choice of America

Los Angeles County's median asking price is back at a three-and-a-half-year low as more homes sit on the market and fewer go into escrow, giving buyers more room to negotiate this fall.

The typical Los Angeles County home was listed for $950,000 in September 2026, according to Realtor.com's monthly housing data, which the Federal Reserve Bank of St. Louis also publishes on FRED (series MEDLISPRI6037). That is down from $965,000 in August, about 4.5% below the $995,000 median in September 2025, and roughly 5% below this year's high of $999,000 in May. It ties January 2026 for the lowest median asking price in the county since February 2023, when it was $934,000.

Some of that drop comes from the mix of homes on the market. The median listing in September measured 1,673 square feet (Realtor.com), the smallest since November 2022 and down from 1,717 square feet a year earlier. But prices are easing on a per-foot basis too: the median asking price was $620 per square foot (FRED MEDLISPRIPERSQUFEE6037), down from $638 in September 2025 and the lowest since February 2023.

Buyers have more homes to choose from than at any point this year. Active listings reached 15,374 in September (FRED ACTLISCOU6037), up from 15,279 in August and about 4% above the 14,764 of a year earlier. That is nearly double the 8,286 active listings in September 2023. New listings slowed to 5,670 (FRED NEWLISCOU6037), the fewest of any month so far this year, as sellers eased off after summer.

Fewer of those homes are going into escrow. There were 4,984 pending listings in September (FRED PENLISCOU6037), homes with an accepted offer that had not yet closed, down from 5,450 a year earlier. Put another way, there were about 32 homes in escrow for every 100 active listings, the lowest ratio in Realtor.com's Los Angeles County records, which go back to mid-2016. A year ago it was about 37 per 100, and in September 2023 it was about 60 per 100.

Price cuts are becoming more common. Realtor.com reports that 15.9% of Los Angeles County listings had a price reduction in September, up from 15.6% in August, 14.7% in September 2025, and 11.8% in February. That works out to about 1 in 6 listings. The median home spent 56 days on the market (FRED MEDDAYONMAR6037), close to the 57 days of a year earlier but well above the 45 days recorded in February.

What this means day to day: from the San Fernando and Santa Clarita valleys to the San Gabriel Valley, and from the South Bay, Long Beach, and the Westside to the Antelope Valley, buyers this fall have more listings to compare and more homes that have sat for close to two months. That is room to negotiate, whether on price, seller credits toward closing costs, or a mortgage rate buydown. It also gives buyers time for careful inspections, which matters in a county with many older homes and hillside properties. For sellers, the message is that buyers are shopping carefully: pricing close to recent comparable sales from the first day, making needed repairs, and presenting the home well matter more than they did in the spring. On either side, look at the full monthly cost, including the mortgage, property taxes, homeowners insurance, and any HOA dues, rather than the list price alone.

At Choice of America, we help buyers and sellers across Los Angeles County read these numbers neighborhood by neighborhood. Visit our Los Angeles County page for local guidance, or call or text us to talk through your plans.

Choice of America · Los Angeles County real estate

Dr. Hamid Rowshan, DRE #02004794, company DRE #02240008. Choice of America, serving Orange, Los Angeles, Riverside, San Bernardino, and San Diego counties. Call or text 833-THIS-BROKER, (833) 842-7465.

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