JUNE is bustin’ out all over,
or so the song goes from the Broadway play Carousel and as famously sung on the Capital Lawn in 1995 by Leslie Uggams, seen on the internet perennially ever since. It’s the month everyone loves as it signals the arrival of Summer, vacations, warm weather, Hollywood Bowl series and the sense of relaxation even if you’re still working daily.
Real Estate doesn’t take a vacation in June, in fact there are many important statistics that are reviewed as the year reaches its halfway mark. Currently there are
2.1% less homes for sale in LA
than last year. The average Days On Market for homes is 21 days. If your home has taken longer than that to connect with a Buyer, then review its price and marketing strategy by your agent. If
I’m
your agent, let’s have a serious talk.
Currently, there is a
3.4 month’s supply of homes
in the greater Los Angeles MLS region. That’s a 25% increase in supply time compared to January 2015. That could signal changes in price ahead for Sellers, which is something to research in your particular neighborhood since LA is a city with
more than 100 distinct neighborhoods
that may behave differently from each other.
Enjoy your Summer Kickoff - Call me if you’d like to look at more detailed statistics and how they may affect you. Until then --- don’t forget sunscreen!
-Ernie
