In Los Angeles County, signed contracts for single-family homes priced at below $5 million far outpaced new listings in the category last month, as inventory couldn't keep up with demand.
Data shows 4,308 signed contracts countywide for single-family homes in all price categories in March and just 2,395 new homes listed.
In L.A. County, single-family homes in the $500,000 to $699,000 range were particularly popular.
At that price point, there were 1,093 deals last month but fewer than 400 new listings.
In the over $5 million single-family home category, there was still plenty of supply.
There were 92 signed contracts in that range compared to 179 homes that hit the market.
Source: Douglas Elliman by appraiser Jonathan Miller.
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