According to the C.A.R. March housing report (read it here!):
- Existing, single-family home sales totaled 397,210 in March on a seasonally adjusted annualized rate, down 0.2% from February and down 6.3% from March 2018.
- March’s statewide median home price was $565,880, up 5.9% from February and up 0.2% from March 2018.
- The Unsold Inventory Index was 3.6 months in March, down from 4.6 months in February but up from 2.9 months in March 2018.
- Year-to-date sales were down 8.2% in March.
- The Los Angeles Metro region posted a non-seasonally adjusted year-over-year sales drop of 12%, with home sales falling in every county. Ventura had the biggest decline in sales, while San Diego dropped the least.
- Active listings continued to climb from the prior year, increasing 13.4 percent from last March, but the inventory is still relativily low.
- The median number of days it took to sell a California single-family home fell from 33 days in February to 25 days in March. It took a median number of 16 days to sell a home in March 2018.
- C.A.R.’s statewide sales-price-to-list-price ratio* was 98.5% in March 2019 compared to 100% in March 2018.
|C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young:||“The median price has been softening since it reached a peak last summer, and March’s year-over-year price increase was the smallest in seven years. The flattening home prices, coupled with low mortgage rates, bode well for housing affordability and may bring more buyers who may have given up back to the market.”|
*If you’re thinking that selling your place might be one of your goals in 2019, let’s start planning now, so that you’re well prepared. To prepare your home for sale the best, you might need help of a graphic designer, a handyman, contractors, a stagger, a cinematographer or photographer, get to know my transaction coordinator and social media assistant, etc. Together we create a marketing plan for the home, telling its story( using a property history and value, neighborhood appeal, what you love about it, etc.)
Call, text or email me for a specific property report, I'll provide the most accurate information to you fast and free!
For more detailed information about the West Los Angles Real Estate market, or your free no obligation consultation on selling or buying a house, contact me at (310) 867-0698 or firstname.lastname@example.org.
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