Hope this post finds you doing well. This post is 2017 Real Estate Market Update. The Holidays have arrived and soon we will be looking to the New Year. Not to get ahead of myself but we all know what happens in between Christmas and the New Year. “Top Lists,” “Top reviews,” or a “Year End Review” for everything comes out.
With that, I have decided to do a 2017 Real Estate Market Update a couple of weeks shy of the new year. This post idea started by my trying to explain the difference between what we hear in the local news with L.A. and the surrounding cities and what is going on in our local towns. However, that is hard when there are many cities to include so I chose to keep it simple and provide graphs with information on a few local cities. While it is certainly a plus to be included in the L.A. scene, Glendora, San Dimas, La Verne and Covina have their own thing going on.
This post and video is short only because I do not think that you want to sit and look at me “blah, blah, blah-ing” for 20 minutes about the different stats for the different cities and comparing being a Buyer vs. being a Seller in the different markets. I won’t go into specifics but instead, point you in the direction of some of the graphs below, I have pulled from the Multiple Listing Service
These charts are for quick summary and reference. Remember, this is only the market information by the properties recorded in the Multiple Listing Service(MLS) and from January 1, 2017 to December 12, 2017. There are always a few properties that do not make it into the MLS because of their “Type of Sale.” I.e.: Family to Family transfer, Investor Purchases/Sales, Trustee Sales, etc. Stats will change as more escrows close. Also, keep in mind, these are averages, so individual days on the market, if your home is on the market will vary.
If you want to have a talk about a specific city, please let me know. I would be happy to meet with you. I think that being able to break down the statistics by the area is important and telling of if this is the right real estate market for you. Tax reform is being sorted out and then you have new laws going into effect. These are all X Factors in making your decision, that I can keep straight for you as things are finalized near and at the new year.
My last words of hope for you if you feel overwhelmed with what to do as a Buyer or Seller, is something, I share with my clients; No matter how the market is, Everything happens the way they are supposed to and when they are supposed to.
Happy Holidays Everyone!
Talk to you soon!
Cell #: 626.261.9093