Los Angeles & South Bay October 2019 Housing Market Update - Stabilizing Market
Los Angeles real estate Broker and consultant Mike Weber discusses where the Los Angeles County and South Bay Beach Cities real estate market is currently at for the beginning of October 2019. Find out what's happening with median homes prices, the supply of inventory, and the number of closed sales in Los Angeles County as a whole and the South Bay Beach Cities.
With mortgage rates continuing to stay at historically low levels, median sales prices are trending upwards, if only modestly, in the Los Angeles County and the South Bay Beach Cities. Inventory remains relatively stable, while closed sales have risen noticeably from the same month a year ago. Many markets at lower price points are still highly competitive with many properties garnering multiple offers, while many higher price point markets have slowed down noticeably, presenting a much more opportunistic time for buyers to purchase a property with less competition in many cases. Most sellers would do well to sharpen the pencil and improve their presentation to stand out from the crowd and beat the averages prevalent in the market.
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