LA Condo Market Pulse: A Mid-Summer Check on the Numbers

The late-July reading

This is a dated snapshot: every citywide figure below is what our live market report rendered on July 23, 2026, computed from the CRMLS feed. The report at /market-stats refreshes continuously and is always the source of truth — read this as a mid-summer reading of the instruments, plus what each number means. As of July 23, the Los Angeles condo report showed a median sale price of $865,000, down 1.6 percent year over year; a median of $689 per square foot; 1,953 active condo listings; 9.2 months of supply; and an average of 47 days on market.

Days on market fell to 47 — the clearest signal

The number that moved most since our July opening reading is marketing time. When we took the market's pulse on July 3, the report showed an average of 76 days on market; the late-July reading is 47. That is a real tightening: well-priced condos are clearing faster than they were at the start of the month, even though inventory is still deep. Days on market is the metric least distorted by which particular units happen to close, so a drop of nearly a month is the cleanest evidence that demand firmed as summer went on. It does not flip Los Angeles to a seller's market — but it does mean the right price gets an answer sooner than it did three weeks ago.

Why the median rose but the story didn't

The headline median jumped from $750,000 on July 3 to $865,000 now, and that number deserves a caution rather than a celebration. The median reflects the mix of what closed, not the repricing of every condo in the city: a stretch heavier in Westside and Century City closings and lighter in Downtown and Koreatown product will pull the median up without any individual home gaining value. The year-over-year line tells the steadier story — down 1.6 percent — and it is far milder than the 14.7 percent year-over-year drop the report showed at the start of July, which was itself a mix artifact. The honest read: prices are broadly flat to slightly soft year over year, and the month-to-month swing in the median is closing mix, not appreciation. Apply neighborhood and building comps to any specific unit, never the citywide median.

Supply is still firmly on the buyer's side

Months of supply barely moved — 9.5 in early July, 9.2 now — and both readings sit well above the roughly six months that marks a balanced market. Nearly 2,000 active condo listings give buyers real choice and real negotiating room, and the faster marketing times have not erased that. The picture is a market where buyers still set the terms on selection and price, but where the best-priced, best-presented units no longer sit for months. For a buyer, that argues for moving decisively on the right unit while still negotiating hard on the ones that have lingered.

What the for-sale page shows this week

The listings themselves corroborate the numbers. On page one of our for-sale results as of this writing, 40 of the 48 condos carried the New badge and only three carried a price-drop badge — a snapshot of a market adding fresh inventory faster than sellers are cutting existing asks. Read that as one page's worth of signal, not a citywide census, and remember listings move daily. But it fits the rest of the reading: plenty of new supply arriving, sellers not yet slashing prices, and buyers rewarded for pairing patience with readiness.

How buyers and sellers should read this

Treat this pulse as orientation, dated the day it was written. If you are buying, the numbers say to shop deliberately across at least two neighborhoods, compare price plus HOA dues, and act quickly when a unit is priced to the freshest comps — because 47 days means the good ones move. If you are selling, they say to price forward into the trend and present the building's documents cleanly, because deep supply still lets buyers punish uncertainty. And in either case, pull the current figures at /market-stats before acting on anything here — the report updates continuously, and this reading is already history.