{"id":46814,"date":"2024-08-12T10:44:43","date_gmt":"2024-08-12T17:44:43","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=46814"},"modified":"2026-04-06T00:51:06","modified_gmt":"2026-04-06T07:51:06","slug":"home-values-in-los-angeles","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/home-values-in-los-angeles\/","title":{"rendered":"Home Values in Los Angeles: Your 2024 Guide"},"content":{"rendered":"

Curious to find out how much your home is worth in today’s Los Angeles market? Whether you’re looking to sell in the near future, aiming to ditch PMI<\/a>, or just interested in current home values in the City of Angels, understanding this information can shape your future plans.<\/p>\n

In this article, we’ll explore home price trends in L.A., offer tips on how to get an accurate home value estimate<\/a>, and suggest simple strategies to increase your home’s value. We\u2019ll also introduce helpful tools to ensure you get the best price when it comes time to sell your Los Angeles home.<\/p>\n\n\n\n\n\n

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\n \"homelight\n <\/div>\n \n

Already Own a Home? What's It Worth Now?<\/h3>\n

Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.<\/p>\n \n

\n Get Estimate<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Editor\u2019s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.<\/em><\/p>\n

<\/div>\n

Current home values in Los Angeles<\/h2>\n

Since 2020, the median home value in Los Angeles County has risen 43.6%. At the start of the decade, the typical home sold for $619,300, as compared to $889,180<\/a> in June 2024, according to data from the California Association of Realtors.<\/p>\n

\u201cIn May, annualized house price appreciation slowed for the fifth consecutive month, clearly showing a returning-to-normal trend toward slower price appreciation,\u201d said Mark Fleming, chief economist at First American, in a recent release<\/a> by Business Wire.<\/p>\n

\u201cThe normalization of house price appreciation is the result of \u2018higher-for-longer\u2019 mortgage rates reducing affordability and slowing demand, but it\u2019s also driven by the increase in the number of homes for sale.\u201d<\/p>\n

The table below illustrates just how high home prices have climbed in the Los Angeles region over the last five years:<\/p>\n\n\n\n\n\n\n\n\n
Year<\/td>\nMedian home price<\/td>\nPercent change year-over-year<\/td>\n<\/tr>\n
2024 (June)<\/a><\/td>\n$889,180<\/td>\n+6.4<\/td>\n<\/tr>\n
2023<\/a><\/td>\n$832,310<\/td>\n-3.3%<\/td>\n<\/tr>\n
2022<\/a><\/td>\n$860,230<\/td>\n+8.1%<\/td>\n<\/tr>\n
2021<\/a><\/td>\n$796,120<\/td>\n+28.5%<\/td>\n<\/tr>\n
2020<\/a><\/td>\n$619,320<\/td>\n+3.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: California Association of Realtors<\/a><\/em><\/p>\n

This trend isn\u2019t limited to Los Angeles; it’s a nationwide phenomenon. A recent analysis by ResiClub of the Case-Shiller National Home Price Index shows that U.S. home prices have surged 47%<\/a> since the beginning of 2020.<\/p>\n

As a result, homeowners have accumulated significant equity<\/a> in their properties. This equity can be used to purchase new homes, make renovations, pay off debts, or save for retirement. According to ICE\u2019s Mortgage Monitor report, as of early 2024, the average mortgage-holding homeowner has $299,000 in equity<\/a>.<\/p>\n

For comparison, the table below shows median home prices in cities near Los Angeles:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
City<\/td>\nMedian home price<\/td>\nDistance from LA<\/td>\n<\/tr>\n
Redondo Beach<\/td>\n$1,490,000<\/td>\n45 min-1.5 hours (22.9 miles)<\/td>\n<\/tr>\n
El Segundo<\/td>\n$1,675,000<\/td>\n40 min-1 hour (19.5 miles)<\/td>\n<\/tr>\n
Beverly Hills<\/td>\n$3,043,100<\/td>\n26-55 min (9.9 miles)<\/td>\n<\/tr>\n
Torrance<\/td>\n$1,127,500<\/td>\n40 min-1.5 hours (21.9 miles)<\/td>\n<\/tr>\n
San Clemente<\/td>\n$1,710,000<\/td>\n1.5-2 hours (61.7 miles)<\/td>\n<\/tr>\n
Agoura Hills<\/td>\n$1,221,600<\/td>\n1-2 hours (35 miles)<\/td>\n<\/tr>\n
Mission Viejo<\/td>\n$1,035,800<\/td>\n1-2 hours (48.4 miles)<\/td>\n<\/tr>\n
Newport Beach<\/td>\n$3,118,300<\/td>\n1-2 hours (44.8 miles)<\/td>\n<\/tr>\n
Thousand Oaks<\/td>\n$1,098,300<\/td>\n1-2 hours (39.4 miles)<\/td>\n<\/tr>\n
Irvine<\/td>\n$1,565,800<\/td>\n1-2 hours (40.3 miles)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Home value averages of multiple public transaction sites\u00a0<\/em><\/p>\n

Typical travel times 8 a.m. midweek<\/em><\/p>\n

In the next section, we\u2019ll show you how to estimate the current value of your Los Angeles home.<\/p>\n","protected":false},"excerpt":{"rendered":"

Explore current home values in Los Angeles and get insights on trends, tips for boosting value, and how to sell your home fast.<\/p>\n","protected":false},"author":363,"featured_media":46816,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,1198,330],"tags":[1204],"class_list":["post-46814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-california-real-estate","category-house-value","tag-selling-a-house-in-los-angeles-county"],"acf":[],"yoast_head":"\nHome Values in Los Angeles: Your 2024 Guide<\/title>\n<meta name=\"description\" content=\"Explore current home values in Los Angeles and get insights on trends, tips for boosting value, and how to sell your home fast.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/home-values-in-los-angeles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Values in Los Angeles: Your 2024 Guide\" \/>\n<meta property=\"og:description\" content=\"Explore current home values in Los Angeles and get insights on trends, tips for boosting value, and how to sell your home fast.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.homelight.com\/blog\/home-values-in-los-angeles\/\" \/>\n<meta property=\"og:site_name\" content=\"HomeLight Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gohomelight\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-12T17:44:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-06T07:51:06+00:00\" \/>\n<meta property=\"og:image\" 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