South Bay Home Values Are Rising

South Bay real estate market is changing.  After a long period of sliding home prices, we finally see prices stabilizing and rising.  This is a welcome news for homeowners and potential home sellers.

Foreclosure numbers are down and overall inventory of homes for sale is extremely low.  A lot of buyers who sat on sidelines, are now getting back in the market, creating more demand.  Prices are not going down anymore and it really seems to be a great time to buy, according to many experts.  Interest rates are very low.  Low home prices and interest rates will not last for long.  A lot of buyers see that, which results in low inventory and multiple offer situations whenever a good listing hits the market.

We’re hoping that this new year 2013 will bring lasting real estate recovery!

If you’d like a Free home evaluation of your home, contact me anytime 310-918-5027 or info@isellsouthbay.com.

 

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Southern California Real Estate Market Update

Home sales in Southern California shot up again in March 2012 when compared with the same period 12 months ago.  Median price dropped by 4.4 percent in Los Angeles county, but went up in other counties – Riverside and Ventura.  Below is the chart illustrating in detail the home sales and median prices in all Southern California counties:

Sales Volume Median Price
All homes 11-Mar 12-Mar %Chng 11-Mar 12-Mar %Chng
Los Angeles 6,590 6,772 2.80% $320,000 $306,000 -4.40%
Orange 2,615 2,856 9.20% $430,000 $400,000 -7.00%
Riverside 3,843 3,756 -2.30% $198,000 $200,000 1.00%
San Bernardino 2,544 2,512 -1.30% $150,000 $150,000 0.00%
San Diego 3,063 3,237 5.70% $325,000 $320,500 -1.40%
Ventura 757 820 8.30% $349,000 $350,000 0.30%
SoCal 19,412 19,953 2.80% $280,500 $280,000 -0.20%

Please contact your local Realtor – Krystyna Baty – at (310)918-5027 or via email at info@isellsouthbay.com for your local market update or Free home evaluation and Seller Consultation.  Ask me about our Century 21 worldwide marketing platform.

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