There have been innumerable ups and downs in the history of Los Angeles County homebuying.
The Southern California News Group will now be chronicling home sales and pricing swings using data from a new provider, Irvine-based Attom. The company tracks closed transactions for existing and new housing – single-family homes, condos and their combined totals – going back to 2005.
Please note that tallying home sales contains a lot of science and a little bit of art. Not every transaction has a simple buyer and seller with traditional financing – mortgage or cash. Deciphering the arms-length nature of each sale – and the value changing hands – is not always simple. That means Attom’s stats will slightly differ from our previous data providers: DataQuick, DQNews and CoreLogic, which recently renamed itself Cotality. Those reports are no longer produced.
Let’s glimpse into local homebuying patterns and extremes through our new statistics from Attom. My trusty spreadsheet found 21 key plot twists within the Los Angeles County housing market’s drama from 2005 through February 2025.
First, consider the price swings for all home sales …
1. Record high: $902,125 median sales price in July 2024. Compared to February 2025’s $900,000, we’re $2,125 off the peak.
2. Great Recession bottom: $293,000 in January 2012, so we’re 207% above that low.
3. 20-year gain: Homes appreciated 119% since 2005.
4. Gains vs. losses: In 77% of all months since 2005, prices increased on a year-over-year basis.
5. Biggest 12-month gain: Up 31% in the year ended June 2013.
6. Biggest 12-month loss: Off 35% in year ended January 2009.
Next, ponder how total sales activity has gyrated over 20 years for existing and newly built properties …
7. Average sales pace: 6,935 closed transactions a month over 20 years. So February 2025’s 4,456 total was 36% below the norm.
8. Busiest month of a typical year: It’s June. Since 2005, the 7,942 average sales are 15% above the norm.
9. Slowest month in a typical year: It’s February. Since 2005, the 5,443 average sales are 31% below par.
10. Fastest-selling single month: 13,186 sales in June 2005.
11. Slowest-selling single month: 3,581 sales in May 2020.
Los Angeles, consider the big slice of the market, single-family houses – existing and newly built …
12. Record high median price: $976,321 in February 2025.
13. 20-year gain: Single-family homes have appreciated 128% since 2005.
14. Average sales pace: 5,085 a month over 20 years. So February 2025’s 3,278 total was 36% below the norm.
15. Sales extremes of a typical year: Busiest month is June with 5,820 average sales vs. February, the slowest, at 3,989.
Think about the market’s usual bargain, the condo – existing and newly built …
16. Record high median price: $740,000 in July 2024. Compared to February 2025’s $ 730,000, we’re $10,000 off the peak.
17. 20-year gain: Condos appreciated 100% since 2005.
18. Average sales pace: 1,850 a month over 20 years. So February 2025’s 1,178 total was 36% below the norm.
19. Sales extremes of a typical year: Busiest month is June with 2,122 average sales. Slowest is January with 1,440.
Finally, let’s contrast condos to single-family homes.
20. Condo share of all sales: 27% average over 20 years vs. 26% in February 2025.
21. Condo vs. single-family pricing: Median is 15% cheaper on average since 2005 vs. 26% less expensive in February 2025.
Jonathan Lansner is business columnist for the Southern California News Group. He can be reached at jlansner@scng.com