September’s housing market shows just how quickly things can shift, even in areas as dynamic as Greater Los Angeles. Pending home sales have finally dipped compared to last year, ending an eight-month streak of yearly gains as higher mortgage rates have started to slow buyer activity. We’re seeing contracts signed at a gentler pace, and homes are now taking about 60 days to sell. With mortgage rates climbing from around 6% earlier this year to the high-6% range, many buyers are pausing to reassess their options.
There’s a silver lining for buyers: the median list price has eased back to $424,500, about 20% of listings are seeing price cuts, and active inventory is up about 4%. However, even with more homes on the market, national inventory is still about 11% below normal pre-pandemic levels—which means true housing supply remains tight beneath the surface.
As a realtor who’s helped clients navigate Encino, Tarzana, Woodland Hills, and beyond for over 20 years, I’m paying close attention to seller delistings, pricing strategies, and how these trends play out locally. Whether you’re considering your first home, an investment, or selling a luxury property in our neighborhoods, understanding these shifts can make all the difference in your next move.
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