This is my recent favorite. This map shows exactly what kind of craziness is happening right now and where Los Angeles real estate market is heading. I like showing it to my clients that are in permanent “looking around” mode. They always think that maybe they should just wait a little longer and they’ll find “something better”. I say “while you waiting for something better, buy something good; and when you find that something better you can sell something good and put some extra cash in your pocket”. Makes sense? It’s fast and easy these days to offload unwanted single family home.
With shortage of inventory in Los Angeles getting rid of of a property to get another one, has never been easier. Look at these numbers! Hollywood +53% Bel Air / Holmby Hills +30% Westwood and Century City +25 Cheviot Hills +38 Palms/Mar Vista +27% Hancock Park / Wilshire +33%. Also Mid and East Los Angeles are +25-27%. Please remember these percentages do not represent value increase (not directly), but an average listing price. Nonetheless they prove we have small inventory / strong seller market. For the past month things slowed down a bit. The buyers who like to take their time with their purchase process this means the best time to buy. At least till January, when market usually tends to warm up again.
This is my first blog post. Finally! I’ve been wanting to do it for over a year now. How did I do? I need your input. Any comments would be greatly appreciated.