Published January 2, 2023
Los Angeles December 2022 Market Update
Hi everyone. Happy New Year. I hope that you had a fantastic time with your friends, your family, that you had a nice holiday and some time off, and that you're renewed and ready to take over 2023 with the bang. So I'm here to give you your year over year market update for the month of December from December, 2021 to December, 2022. This is the last market update and we are excited to see what this 2023 has in store for us. So the year over year market update is for the city of Los Angeles homes to have sold under a million dollars, again from December, 2021 to December, 2022. So we are currently in a shift in a market shift. So the average sales price went $2,000 less from $681 to $679, $2,000 less. So the housing market is shifting. Houses needed to need to be priced accurately in order for them to get multiple offers.
You are going through a shift. We are going through a shift where you are seeing homes sitting on the market a little bit longer than normal during the holidays. Everybody's distracted with the holidays, so things do slow down a little bit for some, and houses do sit on the market a little bit longer, which is the reason why you're seeing that the average days on market went from 22 days to 43 days and 12 less homes were sold compared to last year. However, that gives a lot of opportunity for those of you that are looking to make the move this 2023 still take advantage of the market and make sure that you're taking advantage of the potential of still getting a good price for your home, the potential of pricing it accurately, getting multiple offers and just doing whatever, either downsizing or up sizing or purchasing an investment property. So we're happy to answer any questions when it comes to that.
We have several things in store this 2023 that are exciting. One of them being our home buyer seminar that we're putting together. For those of you that are looking to purchase this upcoming 2023 and just want some questions, answers, where do I start? What do I need to do to get myself set up so I can be a homeowner this year? So look out for that. And I hope that this video was informative and gave you some insight of what the market was doing this past 2022. I hope that this year brings you a lot of joy, good health, and wealth, and prosperity to you and your family. We are excited to just be of service and answer any questions, and we take the educational approach on how we approach things. And so any questions that you have, feel free to reach out to us. Have a fantastic December, wait, January 2nd. Oh my gosh, I haven't had my coffee. Have a fantastic day.
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