April 2026 Market Update 

Steady price growth meets hesitant buyer activity in March 

California’s housing market remained on the slower side this March, as rising mortgage rates and global uncertainties continue to weigh on buyer activity. Closed sales of existing single-family homes dipped 3.5 percent from February and were also down 2.5 percent compared to the same time last year. While activity has been soft, this isn’t entirely unexpected given ongoing geopolitical tensions, stock market volatility, and cautious buyer sentiment, which have led to more deals falling through late in the process.

“March home sales were subdued, as higher mortgage rates and stock market volatility kept many buyers on the sidelines... As both geopolitical tension and interest rates ease for the third straight week, buyers and sellers who have been taking a wait-and-see strategy could return to the market if the conflict in the Middle East continues to stabilize.” -C.A.R. President Tamara Suminski. 

On the pricing side, the market showed a bit more resilience. The statewide median home price increased 7.1 percent from February, which aligns with the typical seasonal bump we see heading into spring. Year over year, prices edged up by 0.4 percent, marking the second consecutive month of modest growth after earlier declines at the start of the year. In short, prices are holding steady, but not surging at the same pace we’ve seen in previous cycles. 

It’s also worth noting that sales have now remained below the 300,000 benchmark for the 42nd straight month, reinforcing the idea that we’re still in a more tempered, adjustment phase of the market. As we move deeper into the spring buying season, we can expect prices to continue trending upward, though likely at a measured pace. Ongoing concerns around global conflicts and inflation may continue to keep both buyers and sellers a bit more cautious than usual. 

Across California, March brought a bit of a mixed bag, though there were some encouraging signs on the surface. All five major regions posted year-over-year sales increases, but much of that lift can be attributed to a simple calendar advantage, March had one extra business day compared to last year. The Far North and Central Coast stood out with stronger gains, while the Bay Area, Southern California, and the Central Valley saw more modest increases. At the county level, the majority reported higher sales compared to last year, with some smaller counties posting dramatic spikes. That said, these large swings are often more about limited transaction volume than a sudden surge in demand, so they should be taken with a bit of perspective. 

When it comes to pricing, the story is more stable than sensational. Most regions saw little movement year over year, with changes hovering within a narrow range. The Central Coast experienced a slight dip, while other regions like Southern California and the Bay Area remained relatively flat. On a county level, over half recorded price increases, but similar to sales, some of the sharper gains and declines were driven more by the mix and volume of sales rather than true shifts in home values. In short, pricing remains steady overall, even if the headlines might suggest otherwise. 

Inventory, however, continues to be one of the more defining factors in today’s market. Supply tightened again in March as we approached the spring season, with the Unsold Inventory Index declining both month over month and year over year. While some counties saw an increase in active listings, the broader trend still points to limited supply. A big reason for this is the ongoing “lock-in effect,” where homeowners with historically low mortgage rates are choosing to stay put rather than trade up into higher borrowing costs. This continues to keep inventory constrained and competition selective 

Homes are also taking just a touch longer to sell, though not by much. The median time on market increased slightly to 23 days, signaling a market that is still moving, but at a more measured pace. At the same time, homes are still selling at or very close to asking price, with the statewide sales-price-to-listprice ratio holding steady at 100 percent. Price per square foot dipped slightly, and mortgage rates remain a key variable, sitting at 6.18 percent in March. While that’s lower than last year, it’s still elevated enough to influence buyer behavior.

“The number of homes listed on the market remains low compared to last year’s levels even as the spring homebuying season kicks into its highest gear... Many homeowners locked in historically low mortgage rates are now reluctant to sell, limiting available inventory. While easing rates are bringing some buyers back to the market, California’s persistent housing shortage remains. This supply/demand imbalance will likely cap sales in the coming months, even as affordability improves modestly.” - C.A.R. Senior Vice President and Chief Economist Jordan Levine. 

Overall, the market is active but selective. Buyers are taking their time, and while opportunities are still very much present, strategy and timing are playing a bigger role than ever

And now for the latest data on Los Angeles County real estate trends:

Single family homes  |  Los Angeles County | March 2026

New Listings: 4,991 (Down 16.60% year over year)

Homes Sold: 2,744 (Down 7.21% year over year)

Median List Price: $999,000 (Down .05% year over year)

Median Sales Price: $1,025,000 (Down 2.09% year over year)

Median Days on Market:  18 (Up 14.29% year over year)

Average List Price: $1,510,285 (Down 6.62% year over year)

Average Sales Price: $1,486,672 (Down 7.78% year over year)

Average Days on Market: 39 (Up 9.52% year over year)

List/Sell Price Ratio: 101% (Down .91% year over year)

Condo homes  | Los Angeles County | March 2026

New Listings: 2,164 (Down 3.49% year over year)

Homes Sold: 1,038 (Down 7.8% year over year)

Median List Price: $699,000 (Down 3.59% year over year)

Median Sales Price: $686,000 (Down 4.17% year over year)

Median Days on Market: 29 (Up 38.71% year over year)

Average List Price:  $911,293 (Down 11.77% year over year)

Average Sales Price: $897,440 (Down 11.22% year over year)

Average Days on Market: 52 (Up 15.38% year over year)

List/Sell Price Ratio: 99.10% (Down .92% year over year)