Los Angeles March 2021 Market Update

Hi everyone! Hope you're having a fantastic day. Ana here to give you your year over year market update for the month of March. Congratulations, we have survived one year of the pandemic. We're healthy, we're alive, we're excited. I'm excited to give you this market update, because it's very telling how the pandemic affected the real estate market. This is the market update for the city of Los Angeles, homes that have sold under a million dollars solely in the city of Los Angeles. Here it goes.

Houses did sit on the market for a little bit longer. March 2020, as you guys know, because I mean, everything was put on hold, we didn't know what was going to happen. They sat on the market for about 38 days, compared to this year where it was only 24 days. If you watch my other video, last month for February, it was only 15 days on the market. This month it's about 24 days, so there is a little market shift going on there. Just watch that.

The average sales price, we are still in a seller's market, so houses are getting multiple offers on average between $30,000 and higher. Last year, March 2020, houses sold for about 591 or so, the average sales price, and this year it was 663. There was a big market increase, and so it's a great time for you to find out what's going on in your neighborhood and with your own home.

New listings, only 317 came on the market last year. This year was 380. Lots of good things are happening. Houses are coming on the market. 380 new homes came on the market in the city of Los Angeles. Those of you that are interested in taking advantage of the low interest rate, now's the time. Those that are interested in finding out what their home is worth, now's the time. Exciting things. Again, congratulations on surviving one year of the pandemic, and happy Easter to those that celebrate. Hope you enjoy your time with your family, or even if you have to do the Zoom thing. Things are opening up, so we're excited about that too. Have a fantastic day, and if you have any questions, direct message me, would love to answer them. Have a good one.