I seldom write County Wide Market Trends, because I am a firm believer that Real Estate is very local. I love comparing them to Wineries. The various Wine Producers have different prices based on a number of variables and one of them happens to be Micro Climates. I am of the same belief that Real Estate is very Local and one pocket could be a great different from another one, not just in Price Point but desirability. Never the less once in a while it is nice to see the bigger picture when it comes to Real Estate Trends.
So with that said let us look at the Los Angeles County Real Estate Market Trends for January 2019:
So with that said you can see that the inventory has increased year over year!
Most people always want to know how the prices are? Here are the Median Numbers:
Others have always asked what about the Average Price? So let me provide that here as well:
As you can see there has been a steady and small increase year over year.
Not surprisingly you can see that the sales have decreased year over year in direct correlation to as the prices increase affordability shrinks. Then coupled with interest rate increases this is not an unusual phenomenon.
Let us also look at the Pending Properties which are indication of what February & March have in store for us:
Not surprising to me since I have noticed the shift for the past six to eight months. This just confirms the trends based on Los Angeles County Trends.
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