A lot of people have been asking me about the real estate market in Los Angeles, and so today I’ll update you with statistics that will tell us more about the health and wealth of this market. We’re currently in a seller’s market in almost all price ranges. Inventory is very low, so multiple offers are common and sale prices remain high.
Home values in LA are still rising, and appreciation is still on the rise. We aren’t seeing home values rise as sharply as they used to, but it’s still a great time to sell a home and cash in on that appreciation. The average days on market is currently fewer than 30 days, so the market is moving very quickly right now.
Where are we seeing the hottest real estate markets? I would recommend looking at homes in Glendale, Burbank, the NoHo District, Toluca Lake, Lake Balboa, all of the areas in the Valley, and East LA.
If you have any further questions, please don’t hesitate to contact me. I would love to share some more information with you!