The Los Angeles real estate market has always been competitive. Almost 52K homes were sold over the last 3 years with an average time on the market of just 37 days. In the past 12 months, the median home price was up 8.8% to $940,000, with an average price change of 3.8% over the past 5 years. The rate is expected to increase in the short term. In L.A., location is key, and knowing the perfect neighborhood that fits your needs is definitely a must! Is it a good time to buy or sell in the city? These top Realtors® have all the answers.