The Latest in the LA South Bay Market

Los Angeles and South Bay Real Estate Video Blog with Lenny LaRocca

A lot has changed in our market in the last month, let alone the last year. We’ll go over all the changes for you today.

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A lot of changes have been happening in the LA South Bay market recently, and I wanted to give you an update today on what’s been going on. In essence, we have a very strong market, like most other markets in Southern California. However, our limited supply of sellable inventory is making the buying and selling processes a little more intense these days. Here are some of the numbers you should be aware of:

• Our inventory based on closed sales is up 14.7% from last month, but down 23.5% from last year.
• There were 1,405 homes for sale in July, which is down 18.6% from last year.
• There were 875 closed units in July, which is down 16% from last month, but up 7.8% from this time last year.
• The 1,019 homes under contract are up 4.6% from last month and 23.1% from last year.
• Our average days on market is down 44% from last year and now sits at just 28 days.
• Our inventory based on closed sales is up 14.7% from last month, but down 23.5% from last year.

Our market continues to remain strong.

All in all, our market continues to remain strong for buyers and sellers. If you price your home correctly, it will sell quickly and profitably. If you’re a buyer, interest rates remain low and you have a great opportunity to lock in a rate now. However, competition will be fierce. Keep an eye on our diminishing inventory, because it plays a huge role in your decision to buy or sell. If you have any questions for us or you’re thinking about buying or selling yourself, give me a call or send me an email. I look forward to hearing from you.