MARCH 2026 - LA MARKET UPDATE
Mortgage Rates (Freddie Mac):
- The average 30-year fixed rate decreased this week to 6.30% vs 6.37% last week
- Year-Over-Year Savings: Rates are now roughly 0.53% lower than this time last year, when they were hovering closer to 6.83%
- 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: Home sales pretty flat year-over-year:
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:
March 2026 vs. March 2025:
Homes Sold:- 183 in March 2026 vs. 190 in March 2025, a decrease of 4%
Median Sales Price:- $2,853,000 in March 2026 vs. $2,890,000 in March 2025, a decrease of 1%
Average Days on Market:- 44 days in March 2026 vs. 40 days in March 2025, an increase of 10%
Highest Sale Recorded:- $47.0M in March 2026 vs. $26.0M in March 2025
What's Driving This?
- In January and February, both sales volume and prices were down around 20% year-over-year. This makes sense in context: last year's early months saw a boost in demand, with displaced Palisades residents creating extra activity in surrounding neighborhoods
- March is where it gets interesting. Last year's March was still riding that same wave, yet this year's numbers are comparable, which shows the underlying demand is genuinely strong
- With spring typically being the busiest season for real estate, this March is a strong indication of what's to come
- 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
