Los Angeles February 2021 Market Update

Hi, everyone! Hope you're having a fantastic day. I'm here to give you your year-over-year market update for the city of Los Angeles, under a million dollars, single family homes, what's happening in LA. So here's your update. Houses are flying like hotcakes and they are selling in 15 days. So if you're a buyer, you're searching, you're wondering what the heck is going on, and realizing that houses are flying, that's because they're selling within 15 days or going into escrow within 15 days, depending on the strategy. But it's 15 days year-over-year 2020 to 2021 for February, single family homes, under a million dollars in the city of Los Angeles.

Then there's a lot of equity to be taken advantage of. So the average sales price last year was 633,000. This year, it's 663,000. So there's a $30,000 increase in equity just year over year. And it continues to increase and increase. And as spring comes, there's going to be a lot of opportunity. More houses are coming on the market for you buyers. Do not get discouraged. More houses are coming. Now, we're also listing. And so check those out. Check what's going on out there. Take advantage of the low interest rates. Do not be discouraged. We have a game plan for you to get you an escrow. And those of you that are considering or are just curious to know how much your home is worth, now's the time to check. So that's your market update. Look at my little chart, reach out to me. Private message me if you have any additional questions. Have a fantastic day, and we'll chat soon.