How Changes to Our Southern California Market Might Impact Your Goals

What is going on in our market right now? Let’s find out.

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Now that we’ve entered the fourth quarter of the 2018 real estate market, it’s time to reflect on the changes we’ve seen recently and over the course of the year.

First off, contrary to past trends, we’ve seen an 11% increase in the number of new listings in the last 30 days. This kind of market activity is much more common in the busier months of July and August.  
 
That said, the market is still much slower than in the recent past. Sellers will need to be patient in waiting for their listings to find the right buyer, as homes are currently spending an average of 111 days on the market before they sell.

Sellers today will need to be patient in waiting for their listings to find the right buyer.

Working with a quality Realtor who can help you price your listing correctly from the start will be key to your success. Price plays a huge role in how any listing performs on our current market. Luxury homes, for example, have seen an even greater increase in inventory than what we previously mentioned—rising an impressive 38%.

Sellers and buyers alike must keep these conditions in mind while pursuing their real estate goals.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.