So Cal Real Estate Market Beat

November 4, 2020

k

By Saeed Ghaffari

So Cal Real Estate Market Beat

For the second week in a row the active inventory numbers went down in every county.  This is partly due to listings changing status to pending, under contract, and some may have expired or cancelled.  It would have been nice to see new listings in the market replacing those changing statuses, but unfortunately, we see a drop in new listings too.

Just as mentioned last week, we cannot ignore the impact of presidential election, covid and the winter on our market. Seasonally, winter is a slow time of the year for sellers.  Covi does add a concern to people allowing foot traffic to their homes and of course there are people who want to wait for the election results before deciding whether to sell or not.  Taking all this into account, a less than 1% drop in active listing inventory and less than 5% drop in new listings is totally normal.

The closings went up in double digits in all counties with an exception of Los Angeles that showed a 6.79% increase.  Ventura county had the highest closings among the 6 counties with 59.15% increase, but on the other hand it showed the highest drop in the new listings, 14.97%.

The average number of days on the market for closed inventory stayed pretty level from one week to another, averaging around 30 days.

Need a realtor in your area? Click on More & More Realtors

Sign up on to be a free member and connect with our members and receive our weekly news and updates (Sign Up Here )

You Deserve 100% Commission

Learn about our 100$ Commitment to 100%  Commission

Gold Sponsor of M&M

Order your NHD Report  on M&M

Call Us Today

714 469 5529

M&M NEWS

Related Articles

Mortgage Report / So Cal RE Market Update

(A must read for agents, buyers and sellers) Mortgage Report Interest rates are historically low post presidential election.  After the 2016 election, rates went up from 3.47% to 4.2%, reports Freddie Mac.  In 2012 rates essentially stood still. They were at 3.38% in...

Pre-qualification, Pre-approval & Full Loan Approval

(A must read by first time home buyers and new agents) A mistake some real estate buyers make is they start looking for homes before talking to a lender, leading to disappointment, as they often look at the properties out of their reach and they get the disappointing...

Dana Point Market Beat

Little History The city was named after the headland of Dana Point, which was in turn named after Richard Henry Dana, Jr., author of Two Years Before the Mast, which included a description of the area. Dana described the locale, including neighboring San Juan...