So Cal Real Estate Market Beat

October 7, 2020

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By Saeed Ghaffari

The new listings surged back up from last week all across so cal. San Bernardino had the highest increase, 24.33%, LA came 2nd with 11.16%, Riverside 3rd, 7.62%, OC 4th with 6.45% and San Diego had the lowest, nonetheless, increase in new listings, 5.32%.

 Number of closings in LA, San Bernardino and San Diego counties dropped by 3.17%, 6.87% and 15.36% respectively and they improved in OC and Riverside county by3.32% and 3.92%.

We track the average number of days for closed properties on MLS week by week. The number came down in LA, OC and Riverside county and it went up for San Bernardino and San Diego counties.  The variation of less than 15% is not a significant change, but anything above 15% should be watched closely. The average days on the market for San Bernardino closings went up by from 32 to 45 days, 40.63% increase.

 

This week’s overall picture of the So Cal RE Market looks good and better than last week’s. Neighborhoods in most cities in every county are showing strong to moderate seller markets. It’s a bit strange to see such a strong seller market as one would think buyers would be waiting for COVID driven distressed properties to hit the market sometime soon.

 

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