Our market continues to be strong, but summer is nearly here. What changes can you expect over the next few months?
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I wanted to make sure you were in the loop about what’s been going on in the LA and Orange County real estate markets as we transition into the summer. Here’s a quick rundown.
Here in LA County, we have 11,232 homes currently on the market for sale. In the last 30 days, however, the demand has increased and 6,610 homes went into escrow.
In Orange County, there are 5,757 homes on the market. 2,904 homes went into escrow there in the last 30 days.
As for Riverside, 3,490 homes went into escrow in the last 30 days and there are currently 8,146 homes on the market.
In terms of the percentage of active listings that are going under contract each month, LA County is at 59%, Orange County is at 50%, and Riverside is at 43%. These are all high figures, so what does it mean for you?
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For one, the market is very strong. We can probably expect inventory to rise from now until about mid-August, making now a great time to get in the market. If you’re thinking of selling, you have to make sure you hire an aggressive agent who can help you take advantage of this market while it’s still hot. If you’re thinking of buying a home, you need a good lender in addition to your trustworthy agent.
The market is very strong.
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If there is anything I can do for you or if you have any questions for me at all about real estate, give me a call or send me an email. I would love to hear from you.
