SEPTEMBER NEWSLETTER
Dear Friends, Family, and Colleagues,
There’s a lot of noise around real estate right now. Let’s slow it down and look at what matters. Rates have increased but has this affected the market? California’s median home price reached $901,420 in August, nearly unchanged from a year ago. Southern California sales were 4.8% lower than last August, while the region’s median price was 2.9% higher. Fewer sales, but prices holding overall.
Since then, mortgage rates have climbed: Freddie Mac’s September 24 average was 7.03%. This morning’s inflation report came in softer than expected—some encouraging news, though it doesn’t guarantee lower borrowing costs.
Our perspective: buyers should stay thoughtful, and sellers should stay realistic. These regional numbers provide context; the right price still depends on the individual home and its competition. You don’t need to predict the entire market. You need to understand the part that affects you. That’s what we’re here for.
September can paint a very different picture, particularly based on what we are seeing from our boots-on-the-ground activity.
Sincerely,
Dennis Adelpour and The Adelpour Group
Mortgage Rate News!
The 30-year fixed mortgage rate fell as low as 5.99% at the end of February, but began rising after the war with Iran started. Rates moved higher again in early September, particularly following the Federal Reserve’s increase in its benchmark rate. Mortgage rates generally move in the same direction as the yield on the 10-year U.S. Treasury.
Mortgage rates then rose sharply Thursday as bond yields surged, with the average 30-year fixed rate reaching 7.03%, according to Mortgage News Daily. While other outlets, including Freddie Mac, reported Thursday morning that the rate had just crossed 7%, that figure represented an average of rates over the previous week rather than Thursday’s actual rate.
Los Angeles County Rental Market News
Beginning Jan. 1, 2027, landlords in unincorporated communities will be required to provide cooling capable of keeping rentals at or below 82 degrees. The ordinance establishes cooling as a housing standard alongside long-standing requirements for heat and hot water. The ordinance does not apply to all LA County renters. It covers only unincorporated areas, leaving cities such as Los Angeles — where approximately 60 percent of residents are renters — to decide whether to adopt similar requirements.
As of August 1, 2026, LA landlords should be aware of the current rent increase caps: 3% for units covered by the City of Los Angeles Rent Stabilization Ordinance (RSO) for July 1, 2026–June 30, 2027, and 8.7% for qualifying non-RSO units covered by California’s AB 1482 for August 1, 2026–July 31, 2027. AB 1482 generally applies to qualifying properties more than 15 years old, subject to exemptions. Proper written notice is still required before any increase.
Los Angeles Real Estate Update
Effective After June 30, 2026, The City of Los Angeles has announced updated thresholds for the Real Property Transfer Tax under Measure ULA:
$5,400,000 – $10,899,999: subject to a 4% tax
$10,900,000 and above: subject to a 5.5% tax
These new thresholds will apply to all transactions closing after June 30, 2026. If you’re considering buying or selling in this price range, timing and strategy will be especially important given the significant tax implications.
The Los Angeles high-end market is experiencing a bit of softness, with buyers becoming more selective and price-sensitive. While demand remains strong for well-positioned luxury homes, overpricing or poor presentation can lead to extended days on the market and price reductions.
If you’re considering selling, marketing and negotiations are everything. Right now, serious buyers are still actively looking, but they’re prioritizing properties that are competitively priced and move-in ready. Sellers who act strategically—pricing correctly from the start, staging effectively, and leveraging top-tier marketing—can still achieve strong results despite what's happening in the market.
Thinking about selling? Let’s discuss the best timing and strategy for your home. Call me today for a confidential consultation.
This market is offering a unique opportunity for buyers who are ready to act. With less competition and fewer bidding wars, buyers can often secure properties at more favorable prices than in previous months. However, with the shift in the market, it’s important to approach this process strategically. Be Prepared to Move Quickly! While the market may not be as competitive, desirable properties still move fast.
Don't wait for an overpriced home to undergo a price reduction before making a lower offer—it may be too late. We’re seeing properties sit on the market for weeks with no offers, only to receive multiple bids after a small price reduction. You won’t get a good deal if you don’t ask, and it costs nothing to submit an offer—so don’t be afraid to go for it! Even if prices soften slightly, luxury properties in prime locations tend to appreciate over time. Focus on homes that offer both lifestyle and investment value. If you’re ready to explore the opportunities in today’s market, call me today. Let me help you find your dream home and secure the best possible deal! Even if prices soften slightly, luxury properties in prime locations tend to appreciate over time. Look for homes that offer both lifestyle and investment value. If you’re ready to explore the opportunities available in today’s market, call me today. Let me help you find your dream home and secure the best possible deal!
Check out the recent Redfin article we were featured in:
Build-To-Rent Homes: What You Need to Know About the Future of Single-Family Rentals
Build-to-rent (BTR) homes are ideal for people who want the benefits of community living without the hassle of maintenance, mortgage payments, or HOA dues. In recent years, the movement to create more of these types of homes has been increasing due to higher demand. Because of its rapid growth, many real estate companies and investors are developing BTR properties to capitalize on the craze.
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