Good morning –
Did you know that housing inventory in California during January 2025 jumped to its highest level since mid-2020? That is a big win for home buyers who are out shopping. The more options you have, the better! The downside that home buyers are facing is that mortgage payments have jumped almost 10 percent from one year ago. The California Association of REALTORS monthly Sales and Price Reports give a phenomenal snapshot of the market.
Here is some more useful statistics and facts from January 2025:
- “The median number of days it took to sell a California single-family home was 35 days in January, up from 32 days in January 2024“
- In January 2025, Median Sold Price for Los Angeles Metro area for single family homes – $820,000
- In January 2025, Median Sold {rice for Inland Empire for single family homes – $600,000
- Homes are selling below list price (indicated from “C.A.R.’s statewide sales-price-to-list-price ratio* was 98.6 percent in January 2025 and 98.9 percent in January 2024.“)
- Southern California wildfires impacted the housing market at the beginning of the year, putting a damper on sales and posing insurance challenges to properties in escrow
What does this mean for you? If you’ve been thinking about buying or selling, now might be a good time to start preparing for the upcoming spring market. It isn’t always possible to perfectly time the market, but you can time your real estate decision to be best for you. The best time to sell is when it works for you. The best time to buy is when you need to.
If you have any questions or are ready to discuss your next move, feel free to reach out. We’re here to help you navigate the market!
Source:
https://www.car.org/aboutus/mediacenter/newsreleases/2025releases/jan2025sales
