One indicator that serves as a gauge of the real estate market is median days to sell. How quickly are homes selling? 

 

According to California Regional Multiple Listing Service data, the median number of days to sell for Los Angeles, Orange, Riverside, and San Bernardino counties for August 2020 was ….

 

***drum roll please***

 

13 days! 

 

For perspective, in those counties in August 2019, the median number of days to sell was 24 days! 11 days longer! Six years ago, in 2014, the median number of days to sell was 47 days. This is a dramatic shift in how quickly homes are moving. The speed in which a home sells is also dependent on the price range of the home, how appropriately priced it is, and the desirability of the area. 

 

Mortgage applications and showing requests are two other statistics that are up from 2019. As CAR reports,

“New purchase mortgage applications were up more than 40% from 2019 levels last week and the index of private showing requests remains more than 150% higher than at the same point in 2019 despite the ongoing economic challenges.”*

 

Wildfire Season in California

If you have turned on the news (or walked outside and smelled the smoke) then you are aware that California is experiencing a devastating wildfire season with fires burning across the state. As a California home owner or resident, it is also important to develop your wildfire preparedness plan. 

Check out the CAL Fire website: 

 

The Cal Fire recommends that you remember the 6 Ps:
  1. People and pets
  2. Papers, phone numbers, and important documents
  3. Prescriptions, vitamins, and eyeglasses
  4. Pictures and irreplaceable memorabilia
  5. Personal computer hard drive and disks

  6. “Plastic” (credit cards, ATM cards) and cash

     

If you would like to request a “Wildfire is Coming, Are You Set?” brochure to your email, please request one by emailing info@kaleorealestate.com. 

 

Sources:
**https://www.readyforwildfire.org/
*September 10, 2020: https://www.car.org/marketdata/marketminute
***CRMLS, Single Family Residences, 09-16-2020

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.