![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2021\/01\/LA-housing-stock-value.jpg\")
<\/a>Photo by Dillon Shook<\/a> on Unsplash<\/a><\/em><\/p>\nHome to <\/span>America\u2019s most expensive residential listing<\/span><\/a> and scores of other exorbitantly-priced spec mansions, it\u2019s no surprise that Los Angeles is one of the highest-valued real estate markets nationwide.<\/span><\/p>\n As home prices\u00a0jumped\u00a09.3 percent in 2020, the value of LA\u2019s housing stock increased by $262 billion, more than any of the country\u2019s 50 largest metropolitan areas. That\u2019s according to a new Zillow analysis<\/a> measuring US housing market gains, which found that Los Angeles-area homes are now worth a total of $2.8 trillion. Between 2011 and 2020, its valuation\u00a0surged\u00a0by $1.36 trillion.<\/p>\n LA is the second most valuable residential real estate market overall, falling behind the New York metropolitan area, worth an estimated $3.1 trillion. The gap between these two high-priced metros is narrowing, however. In 2020, The Big Apple\u2019s housing stock captured only $57 billion in combined value. Seven metros, including comparatively smaller markets like Boston, Washington, D.C. and Seattle, recorded higher gains than New York last year.<\/p>\n At the state level, California\u00a0accounted\u00a0for more than a fifth of the country\u2019s total housing value, representing $7.8 trillion. The Golden State is home to four out of the 10 highest-valued metropolitan areas in the United States \u2014 Los Angeles, San Francisco, San Jose and San Diego.<\/p>\n \u201cTo put that $7.8 trillion statewide total in perspective: It\u2019s about the same amount as the total market cap of the British and European stock exchanges (London and Euronext),\u201d wrote Zillow Economist Treh Manhertz.<\/p>\n Looking at the US market as a whole, the housing stock gained $2.5 trillion last year. Appreciation of existing homes\u00a0equaled $2.2 trillion, while new construction homes contributed $274 billion.<\/p>\n