For everyone in LA who’s interested in home values, here’s what the first month of the new year looked like in real estate.
January’s listing and sales mostly continued the month-to-month trend of the previous 2 years – increasing prices with very little increase, if any, of available homes for sale.
Looking at January ’22 and January ’21, the most noteworthy indicators, in my opinion, are Average Sale Price and Months of Inventory. For 12 of the 14 areas I’m tracking, the average sale price registered a year-to-year increase. That included the entire city of Los Angeles. The 2 exceptions were- 2 of the highest end communities – Calabasas and Encino. Interestingly, Encino showed up again in one the 3 communities recording an increase in months of inventory. The other 2 were higher-end Topanga and the city of LA. It’s important to note, though, the increase in inventory was incremental and added just a couple of weeks. Inventory is still hovering on either side of 1 month throughout the majority of the areas I work with clients in.
Watch the video for more information. You’re going to want to share this with anyone who owns a home or is thinking of buying a home in LA.
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Source: CRMLS, The MLS