When buying or selling real estate in Los Angeles we often talk about the market as being a buyers’ or a sellers’ market, based on the absorption rate.
The absorption rate is the number of months it will take to sell the existing inventory based on prior months’ sales. 6 months is a balanced market, under six months a sellers’ market, and over six months a buyers’ market.
However the market is neither a buyers’ or sellers’ market if no one is buying or selling, and ultimately we rely on sellers putting new homes on the market to spur the buyers out there who are fed up with the lack of inventory, or a glut of stale inventory which is either overpriced or not what they are looking for.
If you are a Los Angeles home seller, have a great home in a desirable area, and decide to list it at market rate, you are going to have a quick sale and it will probably go into a multiple offer situation. Buyers have been chomping at the bit for a home like yours.
Buyers’ markets in areas like Los Angeles are usually short-lived. The foreclosure market does not always benefit your average buyer. The bargains are snapped up by investors and what’s left is usually not that desirable.
Short sales could drive a buyers’ market but many buyers are turned off by the long wait and uncertainty of the process.
So, we are back to good homes in good areas at good prices. Those will always a sellers’ market make.
Buying or Selling Los Angeles Real Estate
Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!
When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.
If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.
Westside Los Angeles Real Estate, including, but not limited to:
- Westwood Real Estate – Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
- Brentwood Real Estate – Brentwood single family homes, Brentwood condominiums
- Santa Monica Real Estate – Santa Monica single family homes, Santa Monica condominiums
- Beverly Hills Real Estate – Beverly Hills single family homes, Beverly Hills condominiums
- Culver City Real Estate – Culver City homes
- Silver Lake Real Estate – Silver Lake single homes
- Echo Park Real Estate – Echo Park homes
For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.