Homes are selling for historically high prices in May 2021 Homes are selling for historically high prices in May 2021. With house prices on the rise, the average home appreciation in Los Angeles has significantly in a year. For example, in the last 12 months, the average sales price per square footage for a single-family house in Los Angeles was $746 a square foot. In May, the average square footage rose to $777. That is a 4.2% increase for May alone! The number of days until sold has also dropped from 36 to 21, respectively. We find that homes sell for more (on average 5% over list price) and faster and expect this trend to continue for some time. Click here for the market report. As a homeowner, here are some ways you can benefit from the appreciation value of your house. Selling the house and gaining appreciation. If you are paying for private mortgage insurance on your house, consult with a lender if refinancing is an option to remove the PMI cost based on your hom...