Today’s market update will involve a specific year-over-year comparison.
Today I’ll share my latest insight into the Southern California real estate market. I’ll compare the year-over-year numbers from January 1 to March 15. March 15 of 2020 was, as you know, just a few days before California went into lockdown. We know that inventory is tight and we’re in a seller’s market, but how much of a seller’s market?
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:
0:07—Introduction to today’s topic
1:37—The number of signed listing contracts decreased by 2.5%
2:11—Home sales decreased, inventory rose, and the average days on market dropped
3:51—The median home price increased 11.8%, and the average dollar per square foot increased by 16.5%
5:07—An example of just how tight inventory is
5:31—Wrapping things up
If you’d like to know how to take advantage of this market or have any questions, don’t hesitate to reach out to me. I’d love to help you.