Los Angeles, CA Real Estate Market

Sellers in 90028 are in a favorable position, with homes closing at a median of $1,449,000 despite a median list price of $999,000, reflecting significant price appreciation through the sale process. With just 70 active listings on the market, limited competition gives sellers strong leverage in negotiations.

Buyers should be prepared to offer well above the list price, as the gap between the median list price of $999,000 and the median sale price of $1,449,000 indicates a highly competitive environment. At a median of 42 days on market and a price per square foot of $1,073.14, acting decisively and getting pre-approved at current rates is essential.

Investors should note that the median rent for a 2-bedroom unit is $3,250 and a 3-bedroom commands $4,695 per month, set against purchase prices of $849,999 and $1,449,000 respectively in those bedroom categories. With 395 rental units currently available, the rental market has inventory but rents remain strong enough to warrant a close look at cash flow potential.

The current 30-year fixed mortgage rate stands at 6.00% and the 15-year fixed rate is at 5.43%, meaningfully affecting monthly payments on a median-priced home of $1,449,000. Buyers who can qualify for the 15-year rate may see notable interest savings over the life of the loan, though the higher monthly payment requires careful budgeting.