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Decoding Southern California Real Estate Surge: Key Metrics and Market Insights

Ladies and gentlemen, gather round! Today, we have some exciting real estate metrics to discuss that will surely pique the interest of all you buyers and sellers out there. Get ready to dive into the fascinating world of real estate trends!

Let’s start with the Months Supply of Inventory, which currently stands at a mere 1.14. Now, what does this mean for you? Well, this metric indicates the number of months it would take to sell all the homes on the market if no new properties were listed. With such a low supply of inventory, it’s safe to say that competition among buyers is fierce, and sellers have the upper hand in negotiations.

But wait, there’s more! The 12-Month Change in Months of Inventory is at an impressive -9.52%. This means that compared to the same time last year, there are significantly fewer months of inventory available. Sellers, this is music to your ears as it suggests a fast-paced market where your properties are likely to be snatched up quickly.

Now, let’s talk about the Median Days Homes are On the Market, and brace yourselves, folks, because this is where things get really interesting. The median time it takes for homes to sell is a mere 15 days! Yes, you heard that right – just 15 days. Buyers, this means you must act swiftly if you want to secure your dream home. And sellers, rejoice! Your properties won’t be languishing on the market for long.

Moving on, we have the List to Sold Price Percentage, which currently sits at an impressive 99.8%. What does this mean for all you sellers out there? Well, it indicates that, on average, homes are selling for almost the full listing price. Buyers, this means you may need to bring your A-game when it comes to negotiations, as sellers are not budging much on their asking prices.

Last but certainly not least, we have the Median Sold Price, which stands proudly at $849,000. Buyers, this gives you an idea of the price range you can expect when entering the market. And sellers, rejoice once again, as this suggests a healthy market where prices are holding strong.

So there you have it, ladies and gentlemen, a snapshot of the current real estate landscape based on these captivating metrics. Buyers, buckle up and be prepared to act quickly in this competitive market. And sellers, take advantage of the low inventory and high demand to maximize your returns. Happy buying and selling, everyone!