February Market Statistics

March madness is upon us and so is spring. It is time for spring-cleaning and revitalization of many areas of our lives. The economy is still a bit sluggish, but there are a few positive signs around, despite what the media has to say. Sometimes I think that if it were left to them, things would never get better. Regardless of what happens, we are thankful to be in a position to help our friends and clients with their real estate needs. We have good news with this month’s statistics that might cheer you up, so without further adieu…on to business…

February came and went quickly and we have some compelling new statistics to show for it. Overall, the greater Los Angeles area did pretty well. More new houses came on the market in February than in January and more sold! One number that I was very happy to see decrease was the number of expired listings, as well as the monthly supply. These are fabulous signs that prove things are improving in our area. I am also proud to say that the average days on market (the time it takes to sell a house) decreased by over a week.

Totals-Greater Los Angeles Area

Individual Locales

As you can see, REOs (Bank Owned Properties) and Short Sales are still accounting for more than half of all sales. This is a great time to buy real estate and if you have a need to sell, it takes a great agent to get the job done because it requires more work than in previous years. Our team is up for the challenge, so let us know if we can assist you.

For our Sellers: Determining the value of a home continues to be an art form that takes a true professional to master. Many factors affect your home’s value, including your motivation. REOs and Short Sales in your immediate area can affect your market value. For those of you considering selling, visit our free offers page by clicking here to get a free evaluation of your home.

For our Buyers: Now is an outstanding time to purchase real estate. Interest rates are still incredibly low and prices are fantastic. Make sure to pre-qualify for a loan BEFORE house shopping. This will save you headache and heartache. We are happy to help you with this process.

Buying or selling, if you are ready to make a move, call us at 818.568.8402, or click here to contact us. We look forward to hearing from you.

Still not sold on us? See what our clients are saying about us by clicking here.