Mixed Market in Stable Conditions

August 28, 2022

Mixed Market in Stable Conditions
What we’re seeing is that the real estate market is mixed. For example, typically when school is back in session, it can signal a major shift. The thinking is that families have already bought a home, moved, and settled in before the start of the school year – halting their house hunting. That’s not the case lately. This month, we’re seeing a pick-up in sales and expect it to continue through September, given interest rates have dropped in recent after a very quick and dramatic increase up through July.

While incredible properties are still selling at some of their highest prices ever, the overall average sales price has dropped, as has the total number of homes being sold each month. The good news for buyers – there is more home inventory available and prices are starting to rein in.

Here are some variables we see:

  • A balance between properties that get multiple offers versus some that experience a price reduction
  • Other properties are transitioning from ‘for sale’ to ‘for rent’
  • Highly coveted properties are selling well over asking price
  • All in all, our team members are here to guide you through the pivots seamlessly. This is a great time to connect with us to discuss how to best present your home or refine your search.


Click Here For Our August 2022 Newsletter

 

Recent Blog Posts

Stay up to date on the latest real estate trends.

Optimism is in the Air

February 5, 2024

The outlook for the 2024 housing market can probably be characterized in one word: Optimism. We are starting to see a lot more optimism this year already, coming out o… Read more

New Year, New Beginnings

January 20, 2024

As we embrace 2024, it's a time for new beginnings, and the real estate landscape in Los Angeles and Orange County is no exception. We're thrilled to share that the ho… Read more

Navigating the Current Mortgage Landscape: Rates, Trends, and Year-End Opportunities

December 20, 2023

As we approach the end of the year, we find ourselves amidst a dynamic real estate landscape, with mortgage rates taking center stage in the recent weeks. Here's a qui… Read more

Busy This Time of Year

October 31, 2023

Fall has arrived, and with it comes a noticeable softening in the real estate market. However, this change has brought forth some interesting dynamics that both buyers… Read more

A Slowdown in the Housing Market

September 29, 2023

As we step into the current landscape of the real estate market, it's evident that things have slowed down, with prospective buyers showing caution in the face of clim… Read more

Real Estate Market Update - 08/08/2023

August 9, 2023

Mortgage rates have seen a slight increase as of July 27. The 30-year fixed-rate mortgage now stands at 6.81%, up from last week's 6.78%. Comparatively, this time last… Read more

The Market Momentum This Summer

July 10, 2023

We are delighted to bring you some exciting highlights on the current state of the Greater Los Angeles and Orange County housing markets. As we delve into the luxury a… Read more

A Strong Start in Summer Sales

June 9, 2023

The residential housing market in Los Angeles and Orange County has exhibited remarkable strength, marked by high demand and limited supply. This trend shows no signs … Read more

Gearing Up for the Start of Summer

May 18, 2023

The recent rate hikes by the Federal Reserve have had a noticeable impact on mortgage rates. As interest rates rise, mortgage rates tend to follow suit, making it more… Read more

Let's Talk

You’ve got questions and we can’t wait to answer them.