The Latest in the LA South Bay Market
Manage episode 186051139 series 1227310
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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.
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