Los Angeles January 2025 Market Update

Hey there. Ana Mendoza here. I hope that this video is finding you amazing. Happy February. January felt like an entire year. There's a lot going on in the world and a lot going on in our industry. But I am here to give you your year-over-year market update for the month of January, from January 2024 through January 2025, for homes that have sold under a million dollars in the city of Los Angeles. I know we had the fires and a lot of things including our house being in between two fires at one point. And it's been very tragic just for a lot of our clients, but we are LA, we are resilient, and we are getting through it, coming together as a community, which is a true blessing.

And with that, the market is really robust. Compared to last year, there's more equity in homes this year. Based on the stats, basically only seven less homes came on the market, so it's very close. From January through January, 44,000 more in equities are in homes this year compared to last year, and days on market are a little bit longer, 40 to 47 days. And it's also because there's obviously the fires and everything that's going on this January, and also, the fact that there are a lot of people having a hard time with insurance and a lot of delays in the market when it came to the fires, and also, underwriting and lending regulations.

But we are getting through it. Everything is getting better. So, if you are a seller, as you can see, these are the stats. I'm not making them up. There's definitely more equity this year compared to last year. So, if you are a seller and want to meet with us to just get an idea what your home is worth to get it ready this Spring, now's your time to do that because it's good to come up with a game plan. And if you're a buyer, there's so many first-time home buyer programs that we can sit down and explain to you about that we have with our partners with Movement Mortgage or HouseAmerica Financial.

We just always love to educate our clients and answer any questions that you have. But when it comes to the market update, that's what they are, so more equity, very similar when it comes to how many homes came on the market compared to last year. Happy Valentine's Day or early Valentine's Day. Happy birthday to my son this week. And thank you so much to those of you that reached out to me and said "Happy Birthday" and wished me the best. The last year of my 30s, and I'm really excited for my 40s. That's just a personal thing, and if you want to know why, you can reach out to me to find out. Anyway, have an amazing day, and I hope that this video finds you well.