We have officially wrapped 2021 and we are in the middle of January with zero to no inventory. What does this mean for real estate? It means this is a great time to sell for top dollar as the market is lacking in inventory. Los Angeles County only listed 9,695 properties for sale compared to 14,827 in 2020, which is a significant decline of -34.6% year-over-year. Regardless of the condition of your house, right now the market is in high demand and there has never been a more opportune moment! The median price for homes in Los Angeles County keeps going up with the average increasing to $905,000, which is an increase of 13.8% year-over-year. Los Angeles continues to be one of the hottest real estate markets and this is a great time to buy and lock in record-low mortgage rates or sell for the most money in the shortest amount of time.
Whether you’re buying or selling this year, the market is still moving fast in almost every city across LA County.
Take a look at Neighborhood Snapshot of Venice, Beverly Hills, and Brentwood for 2021
Click here to read the full December 2021 Micro Report for Los Angeles, with statistics from neighborhoods and counties across Southern California.