The median price of an existing home in L.A. County rose 21.7 percent to $557,730 in October from $458,210 one year earlier, according to the California Association of Realtors.
However, the October median was 0.6 percent below the $560,990 price for a single-family home in September.
The CAR report is consistent with others that show the state and national housing market cooling, with homes staying on the market longer and sellers having to cut asking prices.
"Prices are starting to level off," said CAR President Vince Malta in a statement.
Statewide, the median price of a single-family home in October was $538,770, 1 percent below the $543,980 median price in September. Still, the October median price of an existing California home was 17.2 percent higher than one year earlier.
Sales volume was down for both month-to-month and year-over-year comparisons. In L.A. County, October sales were down 2.7 percent compared to a year ago and plummeted 22.5 percent compared with the prior month. Statewide, October sales were down 2.8 percent compared to last year and 4.5 percent lower than September.
For reprint and licensing requests for this article, CLICK HERE.