Published May 7, 2024
Los Angeles April 2024 Market Update
Hi everyone. Ana Mendoza here. I hope that you're having a fantastic day. I'm here to give you your year-over-year market update for homes that have sold this past April. Happy May. I hope that you had a fantastic Cinco de Mayo. If you're in America, everybody thinks they're Mexican for a day, and I'm sure that you went out celebrating, but if you didn't, you were missing out. We went to Sol y Luna, which is one of my favorite Mexican restaurants. The kids love it. They have really good margaritas, good authentic food, and great Horchata. So, we were there celebrating and I hope that you had a nice day and nice weekend as well. Your market update is for homes that have sold in the month of April now that, that came and went, and they're for homes that have sold under a million dollars in the City of Los Angeles, and from April 2023 through April 2024.
We are still in low inventory market, however, it's interesting because more homes came on the market this year compared to last year. We have 260 more homes that came on the market compared to 241 for last year. And then, we actually have more equity this year, or closings that have closed with equity 35K more compared to last year. And the days on market is still under 40 days, so there's a lot of activity going on in the market right now. Lots of changes in our industry that are happening right now, but the most important thing is that we're heading into summer. Right now, it's a fantastic time to reach out to us, to get your equity update, find out what's going on in your neighborhood, or for your specific home, work on spring, summer projects.
What can you do the just freshen up your house, make it beautiful for you to either enjoy and just live in, or also, just potentially petition it and get it ready to go to sale this summer. I know a lot of people start doing all of those things or just thinking about it, or even purchasing an investment property during the summertime, when the kids are out. We only have two and a half weeks left of school. We're super excited about that, but that's your market update. I hope that you have a fantastic rest of the month. Look out for the winner for basically, Mother's Day on diez de Mayo, which is this Friday, May 10th. By the way, that's Mexican Mother's Day. We have American Mother's Day on Sunday, and then Mexican Mother's Day on Friday. By the way, I celebrate both. Look out for the winner and that's your market update. Hope you have a fantastic May and we will be in touch soon.
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