Not Enough Homes for Sale in 90403?
If you have been searching for a home in 90403, you’ve probably heard news about multiple offers and a shortage of inventory. Well, is it true? Is there more demand than there is supply?
Comparing homes for sale vs. sold homes in April of 2012 and April of 2013 will give a clear understanding. Looking at the graph below, the number of homes for sale in April is down 27% from April 2012. In April of 2012 11 homes were for sale, in April of 2013 8 homes were for sale. The difference is -3. Buyers have less homes to pick from in 2013.
Yes, it’s true, inventory is lower than last year. Seller’s are benefiting by the increased demand, and when priced well are receiving multiple offers. Buyer’s who understand the current market demands, are winning over other bids.
Traditionally, homeowners decide to sell in the Spring and Summer months. Buyers are keeping a close watch, waiting for new listings that fit their needs to come on the market.
Buyers need to discuss with their real estate agent, and loan officer how much each $20,000 increase means for their loan. Seller’s who have been waiting for the right time to sell, this is it, your time has come.
Did you know 90403 neighborhoods also go by the names of “North of Wilshire”, “Wilshire Montana”, “Pill Hill”, and “Northeast Neighbors” ?
For more information about 90403 homes for sale, contact Kim at 310-737-8173
Originally Patch Santa Monica post is here.