Hi everyone, I hope your week is going well. Over the past two weeks I have noticed a significant increase in new listings as well as people who were on the fence reaching out to me about selling their home. It is normal to see an 10-15% increase in listings in March and April as the summer selling season kicks off, but we are near a 25% increase in listings from early March. I believe a shift is happening and people who want to take advantage of this hot seller's market may happen so fast that it will cool the market some and we will start to see home prices level or even take small price cuts (~5%). This could happen as soon as this summer; so if you have considered selling, now might be the time while you can secure the best price with the best terms.
For now, the market is still very competitive for buyers and in many cases, sellers are still getting over asking price for their home. It is not however a lost cause, offers are getting accepted each day and I was even able to get a contingent, out of state, VA loan offer accepted at asking price. Who you work with matters, if you are hesitant to sell your home because you fear buying a replacement, give me a call and I can let you know what you can honestly expect given the area and price you are considering.
- 5.06% Average Interest Rate on a 30-Year Fixed Rate Mortgage
- 14 Average Days on Market
- 128 Single Family Homes closed escrow last week in the Valley
- 634 Active Listings as of today
- 106.4% Final Sale Price as a % of List Price
Based on information from California Regional Multiple Listing Service, Inc. as of July 3, 2022 5:09 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
The MLS™ I-Tech ® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in
Based on information from CRISNet MLS as of July 2, 2022 4:46 AM UTC All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The MLS™ Combined LA/Westside MLS® (CLAW): All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Greater Antelope Valley Association of Realtors®: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
