Here’s your latest update on the Southern California housing market.
Now that we’re into the second half of 2021, I thought I would give you an update on where our market is at. We all know 2020 was a little bit weird, but let’s see how the year-over-year numbers stack up for Southern California.
This year, we have had 12,357 new listings. Last year, that number was 10,501. Of course, 2020 was affected strongly by the pandemic, so what if we compare the numbers to a more normal year like 2019? In 2019, the number of new listings for the first six months was 13,875. Based on this, we can see that we’re approaching normal, but we aren’t quite there yet.
It’s important to remember that even before the pandemic, we were seeing a downward trend in new listings year over year. If we ignore 2020, the amount of new listings seems consistent with trends from previous years.
If we look at the average days on market, in the first six months of 2019 it was 32. In the second quarter of 2021, the average days on market was 16. From this, we can see that demand is crazy high. If you need more proof, the median home price has increased by 17.9% from this time last year.
As you can see, the market is starting to return to normal, but we are still living in the aftershocks of 2020. Demand continues to be high, so if you are looking to sell your home or if you have any questions about real estate in general, do not hesitate to reach out to me. I am always willing to help.