Los Angeles April 2021 Market Update

Hi, everyone! Ana Mendoza here. Hope you're having a fantastic Monday. I'm here to give you your year over year market update for the month of April. So, the first quarter is done and things continue to get better with the pandemic, things are picking up in real estate, and everywhere else. The economy keeps getting better. So, exciting things are happening, not only in real estate, but throughout the world. So, Monday, here you go. The year over year market update is for the City of Los Angeles, for homes that are under a million dollars. So, year over year for the month of April 2020 to April 2021, let's check out what was going on. So, last year, April, 2020, was the first month of basically when the pandemic hit and the first month of, okay, are we going to really, we're saying home and we don't even know if real estate is an essential business, and they put a halt on everything. So, only 251 homes, new homes came on the market, April 2020.

This year, 332 new homes came on the market in the City of Los Angeles under a million dollars. So, really nice increase of 55 homes. The average sales price increased this year as well. It was 610 last year and it's 655, so a $55,000 increase. And the days on market are about the same. Last year was 32 days on the market. This year is 29 Days. So, exciting things are happening for sellers. It's a great time for you to check out and find out what your home is worth, take advantage of the spring and summer market that's coming up. And also, interest rates are still under 4%. So, in the high twos, still in the low threes. It's a great time for you to take advantage of the low interest rate and talk to your preferred lender, find out more about that. So, hope you have a fantastic Monday and I hope this info was valuable. Reach out to us if you have any specific questions. Have a fantastic day and we'll be in touch. Bye.