by Kathy Gibson | Jan 25, 2021 | Buying, Market, Neighborhood, Selling, Uncategorized
Los Angeles Quarterly Market Insights Report (Micro): Q4 2020It is our pleasure to bring you the Compass 2020 Q4 Real Estate Market Report. As 2020 ended Los Angeles experienced strong home sales with prices trending upwards. Despite another regional stay-at-home order in early December, buyers remained active making above-asking price offers for move-in ready properties. Inventory constraints continued as sellers reluctant to list their homes due to COVID remained on the sidelines.Home sales in the desirable Coastal Communities increased 33 percent in the fourth quarter compared to last year. Overall year-over-year home prices rose 17 percent to $2,447,879. Well-heeled buyers chose single-family homes in Malibu to both stay at home and work from home. As a result, Malibu home prices increased 53 percent year-over-year to $4.6 million.The Hills, with an average fourth-quarter home price of $4 million, experienced a 17 percent home price decline compared to last year. Bel Air and Holmby Hills saw single-family home prices fall 44 percent offering rarely seen buying opportunities.West San Fernando Valley benefitted from the urban to suburban flight of millennials with families. Home sales increased 32 percent over last year’s fourth quarter. A 13 percent price increase in West San Fernando Valley brought the average home price to $1.3 million. In Woodland Hills, buyers moved fast reducing days on market by 56 percent. East San Fernando Valley followed suit with a 27 percent increase in fourth quarter home sales. Studio City’s eager buyers pushed home sales up 47 percent year-over-year. Northeast Los Angeles, noted for relative affordability, saw home prices rise 29 percent to $824,429. Moving into 2021, look to more sellers...
by Kathy Gibson | May 6, 2020 | Buying, Market, Selling, Uncategorized
Does it make sense to move up during a soft market? Maybe. Given the characteristics of our low inventory, high demand market climate over the past several years smart investors will find opportunity when others are cautious. This 2-minute presentation will provide food for thought. Let’s have a strategy...
by Kathy Gibson | Mar 20, 2020 | Buying, Market, Selling
In spite of our Governor’s “shelter at home” mandate, there were five new listings and five new escrows opened in Pasadena and Altadena over the past 24...
by Kathy Gibson | Feb 10, 2016 | Buying, Market, Neighborhood, Selling
The median list price in Pasadena is currently $869,000. There are 231 residential homes (single family + condos, townhomes, lofts) currently for sale, and 148 properties in escrow. The volume of home sales continues to out-strip supply, which means we are definitely in a seller’s market. Median home prices have plateaued, and inventory is up slightly. Click here to see the report in its entirety. Report courtesy of Altos...
by Kathy Gibson | Feb 3, 2016 | Buying, Market, Neighborhood, Selling
The median list price in Pasadena this week is $888,500. Inventory is tightening and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Click here to see the report in its entirety. Report courtesy of Altos...
by Kathy Gibson | Jan 27, 2016 | Buying, Market, Open House, Selling, Uncategorized
The median price of a home in Pasadena this week is $714,995. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the Market Action Index. If the market heats up, prices are likely to resume an upward climb. Inventory is tightening and days-on-market is falling. Click here to see the report in its entirety. Report courtesy of Altos...