Los Angeles County single family home market update July 9, 2014
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Los Angeles County Housing Market July 9, 2014 - Two Years of History - Single Family Residences
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Transcript of Los Angeles County single family home market update July 9, 2014
Los Angeles County Housing MarketJuly 9, 2014 - Two Years of History - Single Family Residences
Median Sold Price
With the most recent
low point back June of
2012 and with an all
time high for Single
Family Homes closing
June of 2014…
We see buyer activity
continuing to
increase…
paris911.com
Supply of Inventory
This dynamic has
been up to an all time
high back December
of 2013.
Today the market is
still lacking the
additional inventory to
move it from a sellers
to a buyers market.
paris911.com
Days on Market
You can see that June
2012 - we had an
average of 72-74 days
it took before a
property entered
escrow.
Closing out June of
2014 - we have that
number cut almost in
half - Homes are
selling faster than
ever…
paris911.com
Sales Versus Sold
There is no doubt
homes have gotten
more expensive from
June of 2012 to
Present.
The question is going
to be if we are going to
get the extra inventory
necessary to start
depressing sale
prices.
paris911.com
Supply and Demand
Less real estate
listings are selling as
compared with June of
2012.
Less single family
residences are for
sale at the closing of
June 2014 as
compared with June of
2012…
paris911.com
Expired Listings
This is an interesting
trend. When homes
are being priced more
than buyers are
willing to pay - we see
more expired real
estate listings enter
the market.
Most listings have a 3
to 6 month timeframe,
on average…
paris911.com
Sold Properties
The numbers of sold
homes is down 20% as
compared with June of
2012.
Fewer homes are
selling today as
compared to two
years ago…
paris911.com
In Escrow
Small Change - this
graph represents the
numbers of Single
Family Homes, in all of
Los Angeles County
California, that
entered escrow from
the active status…
Hence, Under
Contract…
paris911.com
Where does that leave us?Buyers are still moving and buying real estate.
Properties have gotten more expensive.
The “listing prices” are being reduced at a very high rate.
In some of the local Los Angeles County areas, we are
seeing more for sale inventory being added daily.
Interest rates are still around 4%.
The market is attempting to move from a sellers market to a
buyers real estate market, but lacking the inventory to do
so.
www.Paris911.com
www.Paris911.com/Reports
www.Paris911.com/MLS
By The Paris911 Team
RE/MAX of Santa Clarita
Local Realtors
BRE #01239257
25101 The Old Road
Santa Clarita CA, 91381
661-400-1720
Connor T. MacIvor
