LA residential sales drop 21%

The recently released Greater Los Angeles Q2 2022 report shows that closed sales declined 21% in a year-over-year comparison during the second quarter.

The report covers the area spanning downtown Los Angeles to the Westside and the beach cities of Santa Monica and Malibu.

Its information was taken from deals recorded on the MLS.

Source: Sotheby’s International Realty

29.6% of LA home sellers cut their price in June

29.6% of all homes on the market in the Los Angeles metro area had price cuts in June.

That’s more than double the 12.6% rate of June 2021 and higher than in dozens of other cities, including San Francisco, Boston, Detroit and St. Louis.

Data provided by Redfin