CULVER CITY (April 24) – The median sale price for single-family residences in Los Angeles reached $1,000,000 in the first quarter of 2026, according to market data released by The MLS and analyzed by the Greater Los Angeles REALTORS®. 7,033 single-family homes closed in the first quarter, while 11,730 single-family homes were on the market, which is about 60% of the inventory, and the median days on market for single-family listings was 20. Condominiums sold at a median sale price of $667,000, with 2,481 sales closing in the first quarter and 5,648 condo listings on the market posting a median days on market total of 34 days.

“At a high level, the first quarter shows a market that wants to move but is encountering real friction points because of affordability constraints, policy pressure, and shifting investor behavior.” Notes 2026 GLAR President Chris Duff. “Quarterly transactions are below long-term averages – not because demand isn’t there, but because supply isn’t. There is a growing gap between what prospective buyers can afford and the inventory that current cost structures and policies allow to reach the market.”

Income properties sold at a median sale price of $1,165,000, with 980 properties closing in the first quarter. There were 3,977 income properties listed in the MLS in Q1.

“We are seeing significant external pressures affecting the market. Measure ULA has created noticeable shifts in capital, deal structuring, and overall hesitation across the segments it affects. Additionally, insurance has quickly become one of the most disruptive forces in the transaction process. It’s no longer just about rising premiums; it’s impacting deal viability and timelines in a very real way,” says Duff.

While single-family homes continue to lead the market in demand, rising inventory in the condo market is creating more opportunities for buyers, who may find less competitive conditions and more affordable price points.

Overall, the Los Angeles market continues to see a price premium relative to the statewide market. Price growth and market activity are normalizing, giving both buyers and sellers more predictability than seen in recent years. Shifts by policymakers to allow for an increase in housing production would help to ease the inventory crunch and bring more homes to the market at price points that are attainable by a larger portion of the population.

“While there are deals to be had in a more balanced market, buyers still need to be prepared to submit offers when the right property becomes available.” Notes Duff. “Otherwise, they may find themselves in a bidding war and miss out.”