West Hollywood Homes for Sale

In October 2024, the median home price in West Hollywood declined by 1.7% compared to the previous year, settling at $1.3 million. Homes in the area spent an average of 56 days on the market, slightly longer than the 52 days recorded in October 2023. Despite the dip in prices and longer market times, the number of homes sold increased, with 25 transactions this October compared to 21 during the same period last year. This suggests that while buyers may be cautious about pricing, demand remains steady, reflecting resilience in West Hollywood's real estate market.

West Hollywood's real estate market is moderately competitive. On average, homes sell within 68 days, often for about 2% below the list price. While most properties take over two months to go under contract, certain "hot homes"—those with high demand—can sell at or near the asking price and typically go pending within just 42 days. This dynamic reflects a market where well-priced or highly desirable properties attract more attention and offers, while others may take longer to secure a buyer.

As of November 2024, West Hollywood, CA, is considered a buyer's market. This means the supply of homes available for sale exceeds the current demand from buyers. In such conditions, buyers often have more leverage during negotiations, with increased options and potentially more favorable pricing. This environment can create opportunities for buyers to secure properties at a better value, while sellers may face longer market times and may need to adjust pricing strategies to attract offers.