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What Do the Latest Stats Tell Us About Our 2018 Market?

 
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Konten disediakan oleh Lenny LaRocca. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Lenny LaRocca atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
According to the latest statistics, it’s a seller’s market in LA County as we begin 2018, but there is good news for buyers as well.

Looking to buy a Los Angeles home? Search all homes for sale
Selling your Los Angeles home? Get a FREE home value report

As we head through January 2018, the latest statistics tell us we’re in a seller’s market.

There were 818 homes sold in December 2017, which was a decrease of 18% compared to both November 2017 and December 2016. The total number of homes closed in December 2017 was 701 units, which was down 4.5% compared to November 2017 and 8.2% compared to December 2016.

There were 530 homes placed under contract in December 2017, which was a staggering drop of 23.7% compared to November 2017 but an increase of 4.5% compared to December 2016.
Most of these statistics were taken from South LA County and, specifically, the South Bay. These numbers lead me to believe that we’ll continue to have a shortage of inventory and have a very active market as long as interest rates cooperate.
In December 2017, the average price per square foot continued to appreciate and settled at $549. The average days on market in December 2017 was 35 days, which was a 2.8% drop compared to November 2017 and a 23.9% drop compared to last year.

The average list price for homes in December 2017 was $1,755,000, but the average sold price was $929,000. That average sold price dropped 1.1% compared to November 2017 but increased 8.3% compared to December 2016.

Lastly, our average inventory for December 2017 was 1.2 months, which was a 14.6% drop compared to November 2017 and a 7.7% drop compared to December 2016.
2018 will be a fantastic year for buyers and sellers.
According to a five-year study comparing the homes for sale versus the homes that have sold and those that are pending, we started and ended each year between 2012 and 2017 with a low level of inventory. In December of those years, we had between 600 and 800 homes listed for sale. As those years progressed, we usually saw a 20% to 25% increase in inventory.

All in all, 2018 will be a fantastic year whether you’re a buyer or a seller. Prices will continue to remain strong for sellers, and buyers can still take advantage of interest rates near the 4% mark.

If you have any more questions about our current market or you’re thinking of buying or selling a home soon, don’t hesitate to call or email me. I’d love to help you.

  continue reading

23 episode

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iconBagikan
 
Manage episode 196356262 series 1227310
Konten disediakan oleh Lenny LaRocca. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Lenny LaRocca atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
According to the latest statistics, it’s a seller’s market in LA County as we begin 2018, but there is good news for buyers as well.

Looking to buy a Los Angeles home? Search all homes for sale
Selling your Los Angeles home? Get a FREE home value report

As we head through January 2018, the latest statistics tell us we’re in a seller’s market.

There were 818 homes sold in December 2017, which was a decrease of 18% compared to both November 2017 and December 2016. The total number of homes closed in December 2017 was 701 units, which was down 4.5% compared to November 2017 and 8.2% compared to December 2016.

There were 530 homes placed under contract in December 2017, which was a staggering drop of 23.7% compared to November 2017 but an increase of 4.5% compared to December 2016.
Most of these statistics were taken from South LA County and, specifically, the South Bay. These numbers lead me to believe that we’ll continue to have a shortage of inventory and have a very active market as long as interest rates cooperate.
In December 2017, the average price per square foot continued to appreciate and settled at $549. The average days on market in December 2017 was 35 days, which was a 2.8% drop compared to November 2017 and a 23.9% drop compared to last year.

The average list price for homes in December 2017 was $1,755,000, but the average sold price was $929,000. That average sold price dropped 1.1% compared to November 2017 but increased 8.3% compared to December 2016.

Lastly, our average inventory for December 2017 was 1.2 months, which was a 14.6% drop compared to November 2017 and a 7.7% drop compared to December 2016.
2018 will be a fantastic year for buyers and sellers.
According to a five-year study comparing the homes for sale versus the homes that have sold and those that are pending, we started and ended each year between 2012 and 2017 with a low level of inventory. In December of those years, we had between 600 and 800 homes listed for sale. As those years progressed, we usually saw a 20% to 25% increase in inventory.

All in all, 2018 will be a fantastic year whether you’re a buyer or a seller. Prices will continue to remain strong for sellers, and buyers can still take advantage of interest rates near the 4% mark.

If you have any more questions about our current market or you’re thinking of buying or selling a home soon, don’t hesitate to call or email me. I’d love to help you.

  continue reading

23 episode

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