The real estate market in Southern California is buzzing along. We’re seeing a very dynamic market that is favoring sellers, but buyers can still capitalize because of certain conditions.
Looking to sell a home in Southern California?
Looking to sell a home in Southern California?
Looking to buy a home in Southern California?
Overall, we’re seeing a seller’s market in North Orange County and South LA County. However, there are some indications that this could shift soon. Properties that are priced well and in good condition are getting offers right away.
If homes are not priced correctly, we’re seeing them sit longer on the market, and this means that their sales prices are falling. The longer a home sits on the market, the less it will sell for.
The good news for homeowners is that home values are continuing to rise. Although appreciation has slowed, inventory is low so you will face little competition and sell quickly. In fact, the average days on market is at 40 right now, and that’s a fairly quick amount of time to sell a home.
Sellers are also getting 98% of their asking price, and that includes all price ranges. Homes in the lower price brackets are extremely hot right now. We have a lot of people wanting to downsize, and we also have a lot of first-time buyers looking to buy starter homes.
If you’d like more information about a specific neighborhood or price point, please don’t hesitate to contact me. I look forward to hearing from you!
