The Los Angeles housing market remains competitive, with the median sold price of single-family homes reaching $805,100 in March 2024, a 12.1% increase from the previous year. While sales dipped slightly by 1.5% from February, they are still 10.2% lower than March 2023. The region's inventory is low, with only 2.6 months of supply, contributing to upward pressure on prices. The market is characterized as a seller's market, with homes typically selling at or above listing prices. Rental prices are also rising, with significant increases noted in various neighborhoods.