the collective, REALTY Blog
3 Ways the Summer Has Affected the LA Real Estate Market
Inventory– August is the month where inventory starts to decrease through the end of the year. BUYERS! This means you will have the most selection NOW! SELLERS: our market is still a seller’s market where there are more buyers then sellers, giving you the upper hand.
Prices- We have noticed a significant slow down regarding the increase in home values. SELLERS: be cautious not to over price your home in this market. Pricing your home just below the last comparable home sale will net you the highest return. Also, keep in mind that your first offer is usually your best offer. BUYERS: we expect home prices stabilize through the end of the year with a slight up tic in mortgage rates.
Activity- The market is still VERY active. We expect to see less multiple offers in general. However, there are still multiple offers on properties that are priced competitively and in great condition.
We hope to gain your trust in being your real estate resource. Most of our business is from referrals, so please, do keep the collective, Realty in mind for any one you know buying or selling!
Broker and Owner of the collective, Realty
Phone: (310) 569-1335