Los Angeles June 2021 Market Update

Hi, everyone! Hope you having a fantastic day and had a great 4th of July with your friend, family, and we're able to just get out and enjoy the company of other people and just eat lots of food. So it was definitely a memorable 4th of July. It almost felt like the fireworks that they didn't use last year when we were in quarantine, they also used this year because I heard a lot of fireworks out there. My dog was going nuts.

Anyway, so here's your market update for the City of Los Angeles homes that have sold under a million dollars, year-over-year market update for the month of June, so June, 2020, to June, 2021.

In June, 2020, only 326 homes came on the market. Compared to this year, 342 new homes came on the market in the City of Los Angeles, so we are seeing a slight increase, although there's still low inventory and a lot of opportunity for you that are interested or want to know what your home is worth and want to take advantage of the market and cash out.

The average sales price increased compared to June, 2020, to this year. It was 627,000 to 689, so there was a big jump and you can totally see that people are cashing out right now and taking advantage of the low interest rates. You can lock in your rate under three or in the low threes, as well. So the average days on market, houses are flying still, 34 days versus 19 days this year.

So if you are a buyer and want to take advantage of the market, pay attention to what's going on because I have been noticing a lot of homes have been coming back on the market, and that's your opportunity for you to swoop it off right away, and we have been very successful with that. And those of you that are interested in knowing what your home is worth, it's a great time for you to find out and also get a free market analysis and cash out on your home.

So hope this is valuable information for you, and you're having a fantastic day today. It's Monday, it's technically still a holiday, and enjoy the rest of your day and happy Monday.