Leave a Message

Thank you for your message. We will be in touch with you shortly.

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.

October 2024: Los Angeles Market Update

October 7, 2024

As we enter October, the autumn season brings some uncertainty to the real estate market. Despite continually declining interest rates this summer, the Los Angeles rea… Read more

September 2024: Los Angeles Market Update

September 9, 2024

September brings continually declining mortgage rates, which remain flat at its lowest rate in over a year at 6.35% for the 30-year fixed mortgage. However, the decrea… Read more

August 2024: Los Angeles Market Update

August 14, 2024

August brings positive news as mortgage rates have declined to its lowest rate in over a year, settling at 6.47% for a 30-year fixed mortgage, according to Freddie Mac… Read more

July 2024: Los Angeles Market Update

July 12, 2024

Over the 4th of July holiday weekend, Highland Premiere was busy prepping many new listings to be launched this week! We will have a total of four new listings for sal… Read more

June 2024: Los Angeles Market Update

June 17, 2024

As we enter the summer season, the mortgage rates continue to hover around 7% for the past 5 weeks, landing at 6.99% for the 30-year fixed mortgages this past week. Ma… Read more

May 2024: Los Angeles Market Update

June 5, 2024

As we get into the crux of the spring home buying season, interest rates have dropped after a 5-week climb, from 7.22% to 7.06% for 30-year fixed mortgages. As buyers … Read more

April 2024: Los Angeles Market Update

April 15, 2024

As we entered April, the current landscape of the real estate market has evidently shifted. There are two movements at play: the increase of inventory and the decrease… Read more

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

Let's Talk

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