Prices continue to be down YoY. March was the fourth consecutive month in which prices declined YoY. This applies to both houses and condos. Prices around this time last year flattened out for several months, so we will have to wait and see what the next few months hold.

Key Market Takeaways:

• Inventory: New listings increased 17% MoM.

• Sales: Closed sales surged 31% MoM.

• Pricing: Median Sale Price is down 6% YoY.

APRIL 2026 LOS ANGELES MARKET REPORT FAQS

Are home prices still decreasing in Los Angeles?

Yes. April 2026 is the fourth consecutive month where Los Angeles home prices have declined Year-over-Year. However, we saw a typical seasonal uptick in new listings (+17% MoM) and a significant 31% increase in closed sales compared to last month.

How is the conflict in Iran affecting the housing market?

The conflict has introduced significant economic uncertainty. Beyond the emotional toll, the economic repercussions are being felt through heightened inflation. As living costs rise, many potential buyers are hesitant to take on substantial increases in housing costs, leading to a "wait and see" market environment.

Is it a good time to get pre-approved for a mortgage?

Absolutely. While headlines focus on mid-6% rates, well-qualified buyers with strong W-2 income are still securing lower rates, such as 7-year ARMs at 5.25%. Waiting on the sidelines based on national averages can be a mistake; finding out your specific rate now is a more rational move.

What is the status of the Palisades fire rebuild?

Progress is slow but moving. As of late March, 2,219 permits have been issued for 984 addresses. This remains a small fraction of the 7,800+ structures damaged in the Palisades fire, with insurance and administrative hurdles remaining the primary roadblocks.

DEEP DIVE: APRIL 2026 MARKET ANALYSIS

True to form over the past few years, we saw a typical uptick in new listings in March after the big drop in February. We saw a huge increase in closed sales MoM, reminiscent of 2023.

The Market Now

It's been a bit frustrating for potential clients I talk to when they ask for my opinion on where the market is, and unfortunately, it's so hard to give a definitive answer. When talking to other agents, it felt like, around late February, things were going to be much better than in the past few years; however, that was before the war broke out in Iran. The repercussions of this war will be felt for some time, especially regarding inflation. When people have to spend so much more money each month just to get by, the last thing they want to think about is a substantial increase in housing costs with a new home.

The last few years have been filled with uncertainty, and it’s looking like this year will continue that trend. At the same time, there will be people who have to sell and people who have to buy. These people will be out there; however, there will be far fewer than we anticipated for this year. So it's going to be another one of those "let's wait and see" type of markets.

This Year Vs Last Year

I've noticed this year is different from last year. That is, for roughly the entire second half of last year, almost every property sold below the asking price, whereas so far this year, it's been a mix of homes selling below, at, or above the asking price. This could be a couple of things: sellers may be more realistic about their listing price to begin with. Or it could be that the buyers are more motivated this year than they were for a lot of last year. And more than likely, it's a combination of both. The biggest factor determining how the rest of the year plays out is the conflict in Iran, not only because of rising living costs but, more importantly for home buyers, because of its impact on mortgage rates.

Mortgage Rates

Rates have risen roughly half a percentage point since the war began, and since the ceasefire, they have gradually decreased. It's too early to tell if this ceasefire will be successful and what will happen after that two-week deadline has been reached. Unfortunately, as I mentioned before, we will have to wait and see.

On the flip side, here is a good lesson as to why you shouldn’t always follow the headlines. Buyers of mine recently had their offer accepted and were able to secure a 7-year ARM at 5.25%. These buyers both had strong W-2 income, which is what lenders like. That means the risk is less for the lender, so they get offered a lower rate. The point being, if you are sitting on the sidelines because you think rates are in the mid 6%’s, it might be worth getting pre-approved now to find out your rate rather than waiting.

Personal Victory in Santa Monica

For those of you who have been getting my monthly newsletter for a number of years, you know I'm not one to toot my own horn; however, this one was especially rewarding. I had a condo listing in Santa Monica where the market has been incredibly soft, and not only that, this condo had a very niche buyer pool, given how unique it is. Not to mention, there was a unit in the building with an almost identical layout that hadn't been selling for close to four months.

However, the seller was very cooperative about what needed to be done to sell the condo, and we received an accepted offer within two weeks, ultimately selling for the highest price in the building for a unit of that size. Setting records in this market is extremely rare, and I am very grateful for my client giving me the opportunity to work with them. This is the review they wrote for me:

"Shane Willcox is the rare agent who leads with data, not hype. He gave me an honest, accurate read on the market from day one — no sugarcoating, no filler, just the information we needed to make smart decisions. His recommendations were precise and well-reasoned, and his organizational skills made what could have been a stressful process feel completely under control. Shane is our go-to for any future real estate needs."

Palisades Rebuild Update

An article in The Real Deal published on March 18 stated that: Los Angeles Department of Building and Safety reported 2,219 permits issued for 984 addresses. Individual properties can sometimes require the issuance of multiple permits. It’s a drop in the bucket for the more than 7,800 residential and commercial structures damaged or destroyed in last January’s Palisades fire, according to figures from CalFire.

The article went on to say that, according to one local developer, the holdup isn't always the city's fault, and in some cases, it's the property owner, the architect, and/or the builder they hired to obtain the permits.

• Read the full article: Insurance Remains Top Wildfire Rebuild Roadblock

• Local Resource: Palibuilds.com

• Real-Time Data: Follow the land market in real-time on the MLS