Real Estate Agent · Los Angeles, CA · Member since 2019 · 40 posts · 20 votes
I pulled CRMLS data comparing 2–4 unit sales in North Hollywood from January through early September 2025 and 2026. A few things stood out:
Closed sales fell from 32 to 17 (−47%).
Median sale price declined from $1.219M to $1.075M (−12%).
Median price per unit dropped about 8%.
Median days on market increased from 40 to 77.
82% of properties sold below asking, compared with 66% last year.
It's a relatively small sample, but the shift in pricing and marketing time is worth watching.
What I'm curious about is whether we're seeing a genuine repricing of small multifamily in LA or just fewer transactions because buyers and sellers are still too far apart. With only 17 closed sales, the distinction matters.
For those actively shopping duplexes, triplexes, and fourplexes in LA, are sellers actually adjusting their expectations, or are you still seeing the same unrealistic asking prices?
I put together a more detailed breakdown of the North Hollywood numbers here: [link to article]
I pulled CRMLS data comparing 2–4 unit sales in North Hollywood from January through early September 2025 and 2026. A few things stood out:
Closed sales fell from 32 to 17 (−47%).
Median sale price declined from $1.219M to $1.075M (−12%).
Median price per unit dropped about 8%.
Median days on market increased from 40 to 77.
82% of properties sold below asking, compared with 66% last year.
It's a relatively small sample, but the shift in pricing and marketing time is worth watching.
What I'm curious about is whether we're seeing a genuine repricing of small multifamily in LA or just fewer transactions because buyers and sellers are still too far apart. With only 17 closed sales, the distinction matters.
For those actively shopping duplexes, triplexes, and fourplexes in LA, are sellers actually adjusting their expectations, or are you still seeing the same unrealistic asking prices?
I put together a more detailed breakdown of the North Hollywood numbers here: [link to article]
@Tim B., those are interesting numbers! With fewer sales and properties sitting on the market longer, it does seem like buyers may have more room to negotiate. But with only 17 sales, I'd be careful about calling it a major price correction just yet. I'd want to look at the individual properties and what buyers are actually getting for the price.
I'm a real estate attorney, broker, and investor based in Maryland, and I work with clients on property purchases, contracts, and rental properties. One thing I pay close attention to with multifamily deals is the existing leases, rental income, and any property issues that could affect the investment. A lower purchase price doesn't always mean a better deal.
Thanks for sharing the breakdown, @Tim B.! I always enjoy seeing how different markets are changing. Happy to stay connected!
Nice data. One thing I'd check with only 17 sales: the median fell 12%, but price per unit only fell about 8%. Part of that drop may just be more duplexes and fewer fourplexes in the mix.
On whether it's a buying opportunity, the payment math is still tough. At $1.075M with 25% down and 7%, P&I is about $5,360 a month. Taxes at roughly 1.2% add another ~$1,075 before insurance or repairs. An 8% price cut saves about $430 a month on that loan, and a one-point rate drop saves about $530. So I read the 82% below asking as sellers giving ground, just not enough yet for most of these to work at today's rates.
@Tim B. I think the answer to your repricing-vs-standoff question is sitting in the listings that didn’t close, not the 17 that did.
Closed sales only show you the sellers who gave in. Pull expired, withdrawn and canceled 2–4 unit listings for the same window. If withdrawals jumped while closings fell 47%, it’s a standoff, and those owners are waiting it out. If withdrawals are flat and most sellers took cuts to get it done, that’s a genuine repricing.
Two other checks I would run:
Sale price vs. original list, no final list: 82% sold below asking understates the gap if most had already cut once or twice, and a 77-day median DOM suggests many actually did.
RSO vs. non-RSO. Most NoHo 2–4s are pre-1978 and under LA rent stabilization, so buyers are pricing on in-place rents with limited upside. I’d bet the discount is concentrated in RSO buildings with long-term tenants paying well below market.
One more reason to pull that withdrawn list: it’s your off-market pipeline. Those owners already decided to sell once and just didn’t get their numbers. 6 to 12 months from now, contacting them directly often beats anything still on the MLS.