Even as a practicing real estate agent who is in the field, searching listings, and writing up offers for clients, the statistics on inventory levels are surprising. Take a look at a couple graphics on December 2020 statistics for Los Angeles County and San Bernardino County. Other neighboring counties in Southern California reflect the same trend.
We want to highlight that red percentage under active listing.
In Los Angeles County, the number of active listings compared to 2019 was down 30.2 percent. In San Bernardino County, the number of active listings was down 68.6 percent!
This is astonishing! This is what real estate economists and practitioners are referring to when we say we have a housing shortage or no inventory. The number of homes for sale on the market is not keeping pace with home buyer demand.
What are 5 reasons why you should list your home this month?
1. Low Inventory gives you a competitive advantage –
Instead of 3 buyers submitting offers on your home, you have 13 offers which gives you choice
2. Buyers are motivated to work with you –
Are you looking for 2 weeks after the close of escrow for additional time to move out? Do you want the buyer to cooperate with your 1031 exchange or purchase out of state? Many buyers are willing to agree to your requests if it means getting their offer accepted
3. Home Prices have increased –
You are able to sell for more than you could have last year or last month
4. Spring Rush is Coming –
Historically, more listings come to market in April, May and June than in January or February. By listing now, your listing stands out more and you enjoy more of the benefits of #1 – Low Inventory
5. You need to make a move –
Your home is too big, your home is too small, you are moving out of state, your parents are moving in with you, your kids are moving in with you, you are tired of living in an area that was close to work and now you work from home and don’t have a commute. The list of reasons why you might want to move goes on. You have an investment property that you want to sell and cash out. You inherited a property. You are doing a 1031 exchange. I can help with all of these!
Number 5 is the most important reason on the list because it is your WHY! We care about your why because it is what motivates the entire sale: money, time, location, and all the other details.
If you are interested in learning what you could make if you sold your home in today’s market, then reply to this email with your property address and I will send you a full property value report.
This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.