If you are considering selling your Los Angeles home, this is going to be a hot summer. Inventory continues to remain low and buyers are faced with multiple offers on almost everything they are interested in. So Los Angeles home sellers, this is your market.
Here are some examples of areas with extremely low inventory:
Westwood
Single Family
Active listings: 11
Under contract: 13
Sold over past year: 89 which is an average of 7 per month
There is nothing available under $1 million.
Condos
Active listings: 276
Under contract: 46
Sold over past year: 276 – an average of 23 per month
Westwood real estate market reports
Santa Monica
Single Family
Active listings: 47
Under contract: 41
Sold over past year: 269, an average of 22 per month
Condos
Active listings: 38
Under contract: 59
Sold over past year: 576, an average of 40 per month
Santa Monica real estate market reports
West Hollywood
Single Family
Active listings: 20
Under contract: 25
Sold over past year: 125, an average of 10 per month
Condos
Active listings: 73
Under contract: 32
Sold over past year: 380, an average of 32 per month
Culver City
Single Family
Active listings: 25
Under contract: 39
Sold over past year: 231, an average of 19 per month
Condos
Active listings: 19
Under contract: 52
Sold over past year: 192, an average of 16 per month
Culver City real estate market reports
Palms and Mar Vista
Single Family
Active listings: 31
Under contract: 55
Sold over past year: 365, an average of 30 per month (one per day)
Condos
Active listings: 12
Under contract: 16
Sold over past year: 122, an average of 10 per month
Silver Lake and Echo Park
Single Family
Active listings: 39
Under contract: 61
Sold over past year: 322, an average of 27 per month
If you are thinking of selling your Los Angeles home, there is no better time than right now. If we had a crystal ball and knew where the top of the next market would be then we could wait. But we don’t and we never will. Meanwhile, mortgage rates are still very low and buyers are just waiting on the sidelines to find their dream homes. Maybe it will be yours!
Homes for sale in Los Angeles
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