Buyer OR Seller’s Market?

Real estate is measured by  ”month’s supply of homes”  to determine what sort of current market we’re in.  It’s a simple equation of homes available divided by the number of monthly sales.

EXAMPLE:  We had 851 Single Family Homes for sale in the San Fernando Valley for the month of January - 2017. There were 377 closed sales.   851/377 = 2.26 MONTHS SUPPLY OF HOMES. What does that really mean? It means that it’s a seller’s market (good to be a seller). A balanced market is around a 6 month supply of homes.

It is interesting, however, that more and more clients are mentioning the large supply of homes to choose from.  Is this the new norm in Southern California?

The 2016 average home price in the San Fernando Valley was $605,843. Up from $558,825 in 2015.  


Call me with any questions and allow me to navigate you through an amazing time in Real Estate! 818-326-0945.

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