I get this question quite a bit – how do I best time the sale of my property? It seems as though sellers are looking for that “magic window” of time that will give them the best possible outcome. This answer may come with some controversy – there is no secret formula or magical window of time. Here’s what I can share with you – the data.
Let’s take Pasadena as an example and look at the key market indicators: inventory, average price/SF, median days on market. The numbers are quite astounding. Inventory remains extremely low at 79 homes, the average price/SF continues to rise and now is $799/SF, and homes are selling faster than ever with the median of 21 days on market.
What does this all mean? The seller’s market is still very strong. Even as interest rates climb slightly, buyers are continuing to write offers and bidding wars are commonplace.
Have you been thinking about selling and, perhaps, putting it off for one reason or another? My suggestion – don’t wait any longer.
We have market reports for any zip code in LA. Shoot me a message and I’ll send you a report for your neighborhood.