Mortgage Rates (Freddie Mac):
- The average 30-year fixed rate increased this week to 6.11% vs 6.00% last week
- Significant Year-Over-Year Savings: Rates are now roughly 0.5% lower than this time last year, when they were hovering closer to 6.65%
- Qualified buyers can still find rates well below 6% by shopping around
- Fed on Hold: With inflation still running above target, tariff uncertainty, and ongoing global instability, most analysts expect the Fed to hold rates steady for the foreseeable future
- So I don't think we should expect much movement in mortgage rates this year.
2026 Market Stats
2026 Market Update: February home sales have decreased:
When I compare MLS data across LA's prime markets (including Beverly Hills, BHPO, Hollywood Hills, West Hollywood, Bel Air / Holmby Hills, Westwood / Century City, Brentwood, Santa Monica, Venice and Mar Vista), we see notable year-over-year shifts:
Feb 2026 vs. Feb 2025:
Homes Sold:- 154 in Feb 2026 vs. 199 in Feb 2025, a decrease of 23%
Median Sales Price:- $2,617,500 in Feb 2026 vs. $3,345,000 in Feb 2025, a decrease of 22%
- Median Sales Price Per Sq Ft:
- $1,231 in Feb 2026 vs. $1,390 in Feb 2025, a decrease of 11%
Average Days on Market:- 51 days in Feb 2026 vs. 43 days in Feb 2025, an increase of 19%
Highest Sale Recorded:- $40.0M in Feb 2026 vs. $32.5M in Feb 2025
What's Driving This?
- While the numbers look a bit scary with such a large decrease in sales and median price, this is really just the market normalising. In February 2025 the Palisades Fire had just happened and displaced buyers rushed to secure homes in nearby areas, creating artificial upward pressure on sales volume and pricing, particularly in Santa Monica and Brentwood. That wave has now settled.
- That said, performance remains highly area and property specific:
- The luxury segment ($10M+) takes longer to sell
- I'll say it again… renovated and well-priced homes under $5M remain in strong demand, frequently generating multiple offers!
We are now in Spring Selling Season the busiest and most exciting time of the market! If you've been considering buying or selling and would like a personalised consultation, feel free to reach out at [email protected].
Best regards,
Hannah
Luxury Residential Realtor® | Westside Estate Agency
Santa Monica • Brentwood • Venice • Mar Vista • Beverly Hills
