Los Angeles December 2021 Market Update

Hi everyone! Anna Mendoza here. Hope you had a fantastic holiday and happy new year. We are super excited for 2022. We're very grateful for just the opportunity to be of service and we had a great 2021. Thank you to those that continue to support my business. Continue to just be clients who become friends and more like family that keep sending us referrals to your friends and family and trust us with that. We are so grateful and looking forward to chatting with you and getting more referrals from you and just being of service. So I hope that you stayed safe during this holiday season and continue to have a fantastic 2022.

So I'm going to give you your market update for the month of December. I'm a little behind. So I wanted to take this opportunity to say thank you, but also give you information of value for the month of December since it's gone, it's close and we are coming into a new exciting 2022, hopefully with less COVID drama.

So here we go for the homes that have sold under a million dollars in the city of Los Angeles. We had a lot of things happening, small shifts happening and things that are not uncommon during the holiday season. The market did slow down a little bit. People get distracted with the holidays. This year, we were able to travel a little bit more. So a lot of people took advantage of that, but then there was some of you that were able to swoop off properties off the market and make your 2021 goals dreams come true. So that was one of your goals. You gave us the opportunity. We got you in escrow and congratulations to you.

So for the month of December, from a year over year market update for the city of Angeles from December 2020 to 2021, the average listings that came on the market were less. We are still seeing that small shift of the gap of the market. However, a lot of people end up holding their listings and then launching them in the beginning of the year as a new, exciting thing to do and just relaxing over the holidays. So we had 235 versus 164. So about 70 homes less came on the market and the ones that were on the market, some of our buyers that swoop them off. So congratulations to them.

The average sales price was $17,000 more and the days on market were 10 days less. So basically homes are going into escrow and closing in less time than an average. Now I did pull numbers for the overall city of Los Angeles of what has been happening for the entire year of 2021. So we had 278 homes less. As an average for the entire year, homes are closing in a shorter amount of time. So nine days less on average, and they do close for more compared to the previous years. So it's for about 28 to $30,000 more.

So we are still seeing the small gap in the market. Lots of opportunity for those of you that want to take advantage of your equity and cash out. For those of you that are interested in taking a look at what you can do to get into the market, take advantage of the low interest rates, now's the time. So those are your market updates and analytics. If you want specifics on your neighborhood, reach out to me. I'm happy to give you that information. I hope that you have a fantastic 2022. We are super excited for this year and things that are going to be happening and projects that we have in the works.

I know a lot of you that reach out to me over the holidays, and were wondering why we didn't do the toy drive. So I'm a little behind on that. Couple things happened. However, we are going to do that. So just wait for me to reach out to you about that. Thank you for your support. Blessings to you and yours and we will be in touch. Have a good one.