Summer is traditionally the busiest season in real estate. However, with the wonderful weather we enjoy year round, our buying and selling seasons are less volatile than in other parts of the country. Nonetheless, it's interesting to see some of the trends in the single family home market from April 2020 to April 2021 in LA county:
- Housing supply remains low - last April there were 6,868 homes for sale while this April there were 4,776.
- The gap between the number of homes for sale and homes sold is shrinking, indicating that buyers are quickly scooping up the homes that are coming on the market.
- The time it takes a property to sell - its days on market - is the lowest it has been in a year at 25 days
What does this data mean?
The real estate market remains competitive as buyers vie for decreasing inventory. However, just in the last month, I've been able to help 4 of my clients get into escrow and purchase the home of their dreams!
The key to being successful in this market has a lot to do with who you work with, and having a dedicated team of real estate professionals around you makes all the difference. I've done the legwork and curated a team you can trust: myself, your realtor; superb lending professionals, trustworthy home inspectors, qualified contractors and specialists, etc.
Contact me today and let's talk about your specific situation and how we can get you ready to purchase your next home!
