“So Cal RE Market Report / Buyer, Seller & Investor Tips” by: Saeed Ghaffari

“So Cal RE Market Report / Buyer, Seller & Investor Tips” by: Saeed Ghaffari

March 17, 2021

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By Angie Week

Saeed Ghaffari

Saeed is the founder of Money, Real Estate & More. With over 30 years of experience as a lender, investor and a real estate professional, he provides free consulting in these fields.

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Saeed Ghaffari

So Cal Market Beat

MLS Data provided courtesy of Real Estate Legends, USA

Table below shows the impact of the market trends and factors on our economy, ECON 101.

Buyer, Seller & Investor Tips

  • Active Inventory listings changed direction and went up by .92%, the week before, it was reported at .18% drop. The more properties on the market, the more advantage towards buyers.
  • The closings also dropped by 2.82%, a continuation of last week’s drop of .49%. One key factor is the hike in interest rates. Rates have been moving upward and it definitely keeps a few buyers off the market.
  • The new listings were down by 3.58% this week, not so good, but also the older listing inventory continued to go down too, which is good news. The older listings downward trend started 4 weeks ago and it dropped 3.78% again as of this Monday, March 15th. One contributing factor could be the sellers adjusting their asking price downward a bit.
  • Active listings were up by .16% last week, the Activity Index was down by .81% and so did the aging index. Meaning less properties hit the market and the older listings were moved.
  • Coming Soon inventory tapered off to .74% increase from the week before of 19. 36%.

Buyers, Sellers & Investors: Seek the advice of an experienced local realtor for data specific to your market.  Work with realtors with skills and character you can trust, find them on our Expert Panel under real estate on our home page.

Active Inventory listings changed direction and went up by .92%, the week before, it was reported at .18% drop. The more properties on the market, the more advantage towards buyers.

The new listings were down by 3.58% this week, not so good, but also the older listing inventory continued to go down too, which is good news. The older listings downward trend started 4 weeks ago and it dropped 3.78% again as of this Monday, March 15th.  One contributing factor could be the sellers adjusting their asking price downward a bit.

Active listings were up by .16% last week, the Activity Index was down by .81% and so did the aging index. Meaning less properties hit the market and the older listings were moved.

Coming Soon inventory tapered off to .74% increase from the week before of 19. 36%.

The closings also dropped by 2.82%, a continuation of last week’s drop of .49%. One key factor is the hike in interest rates. Rates have been moving upward and it definitely keeps a few buyer off the market.

For data specific to your local market, we have expert real estate professionals listed on M&M Expert Panel under the real estate column. Additional real estate services maybe found in M&M Business Directory. For free real estate and mortgage consulting, write to [email protected].

 

 

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