Los Angeles Stats – As of June 2014
Per Southland Regional Board of Realtors MLS data – June 2014
The median days on market was 39 days in the month of May and now we are seeing an uptick of 41 days. It will be interesting to see what continues to happen but what I can tell you is the local market is becoming a normalized real estate market. Homes are selling but we are not seeing the multiple offers that we saw last year when some areas reached over a 20% market equity gain. This means great potential for buyers to grab homes if they are first time buyers not competing with as many cash buyers. Many investors are watching at the side lines since the profit margins are way down from last year. Probably a good thing at this point.
If you are looking to buy or sell your home, call an expert in the business and do your homework. We sell many homes in the area and know the values. Learn more about myself by viewing my website or contact me, Bob Siegmeth or David Hernandez – 818-527-5744 for a home valuation or for any real estate advise.
Located in Porter Ranch, Ca 91326
Serving Los Angeles County from Sherman Oaks to Simi Valley to a secondary office in Palmdale.