Los Angeles, CA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

How much does the average realtor make in LA? ›

As of Apr 13, 2024, the average annual pay for a Real Estate Agent in Los Angeles is $96,024 a year. Just in case you need a simple salary calculator, that works out to be approximately $46.17 an hour. This is the equivalent of $1,846/week or $8,002/month.

$974,105. The average Los Angeles home value is $974,105, up 5.7% over the past year and goes to pending in around 19 days.

We are going to show you how to buy a California home without a Realtor. First of all, it's perfectly legal to buy a home on your own without using a Realtor or a real estate agent. Read our helpful blog post explaining the difference between them: “Is a Realtor Better Than a Real Estate Agent?”

The sustained demand for properties, coupled with limited inventory, is likely to support further price appreciation, making it an opportune time for both buyers and sellers to participate in the market.

On average, real estate agents make $84,459 per year according to salaries reported by Indeed users.

Los Angeles Housing Market Trends

In March 2024, Los Angeles home prices were down 1.3% compared to last year, selling for a median price of $983K. On average, homes in Los Angeles sell after 43 days on the market compared to 44 days last year. There were 1,508 homes sold in March this year, down from 1,662 last year.

Los Angeles, CA housing is 137% more expensive than the U.S average, while utilities are about 12% pricier. When it comes to basic necessities such as food and clothing, groceries are around 16% more in Los Angeles, CA than in the rest of the country, while clothing costs around 16% more .

Can you get a real estate license in California if you dont live in the state? Yes, you are not required to be a California resident to obtain a California real estate license.

Can buyer and seller use same realtor in California? ›

Legally speaking, a dual agent is a real estate broker, or agents working for the same broker, who act on behalf of both the seller and the buyer in a transaction. A broker is permitted to act as a dual agent in California only if the buyer and seller are both aware of and consent to the dual agency.

Those who pass the examination are provided a license application which must be submitted to and approved by the DRE. This license is required of individuals who conduct licensed real estate activities as described in the Real Estate Law under the supervision of a licensed broker.

2024 Market Forecast

CAR felt optimistic in its 2024 housing market forecast with falling mortgage rates, rising prices, economic expansion, and with demand for homes strong. Home prices are predicted to rise 6.2% to a record median price of $680,300 next year. Housing affordability will remain flat.

Best Time to Sell Your House for a Higher Price

April, June, and July are the best months to sell your house in California. The median sale price of houses in June 2023, was $796,400, which is expected to grow more in 2024. However, cities like Arcadia and San Mateo follow an upward trend throughout the year.

Yes. This is the best time to buy a house in California. With the current trend in the CA housing market, you'll find better deals on your dream home during Q2 2024. As per Fannie Mae, mortgage rates may drop more in Q2 of 2024 due to economic changes, inflation, and central bank policy adjustments.

Most of the time, the commission charged by the Listing Agent in Los Angeles is from 2.5% to 3%. On the other hand, the Buyer Agent Commission can be anywhere between 2.32 and 2.5% of the home's value.

Top producers earn around $112,610 a year to start, according to the BLS. 1 Mega-stars could earn $500,000 per year and up.

Our December 2023 survey of local agents found that the average real estate commission in Los Angeles is 5.38%, which is less than the national average of 5.49%. Calculate your estimated commission in California. The average total real estate agent commission rate in Los Angeles is 5.38% of the final sale price.