Tuesday, September 23, 2025

Los Angeles County Home Sales Dip in August

CITY NEWS SERVICE

Home sales experienced a decline in the Southland last month, the California Association of Realtors announced Monday.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 264,240 in August. Last month’s home sales edged up 0.9% from the 261,820 homes sold in July and slipped 0.2% from a year ago, when 264,640 homes were sold on an annualized basis, according to CAR.

The statewide annualized sales figure represents what would be the total number of homes sold during 2025 if sales maintained the August pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

Los Angeles County’s sales figure was down 16% from July, but up 12.3% from August 2024. Orange County sales were down 4.3% from July, but up 1.4% from August 2024.

Meanwhile, home prices were mixed locally and statewide. The median selling price of an existing, single-family home in Los Angeles County was $930,720 in August, up from $911,360 in July, and showing an increase from $919,890 in August 2024.

August’s statewide median home price was $899,140, up 1.7% from $884,050 in July and up 1.2% from $888,740 in August 2024.

Localized data is not seasonally adjusted, which may account for discrepancies between county numbers and statewide trends, according to CAR.

The highest median price in California in August was San Mateo County’s $1.98 million. The lowest was Lassen County’s $221,000.

“Despite a softer-than-expected home buying season this year, a bounce back in pending sales last month is an encouraging sign that sales could improve the rest of the year,” CAR President Heather Ozur said in a statement. “Many prospective homebuyers have been holding out in hopes of lower mortgage rates, and the declining trend in rates observed in the last few weeks could be the nudge that draw them back to the market.”