Are you seeing a market shift?

[Nick Hedberg]

High priced areas shift first and some (not all) areas are seeing months of supply increase. Most lower priced areas are still red hot. What are you seeing?

Data: (Single Family Residential)

• Los Angeles County
  • Months of supply has increased to 5.1 months. The last time we had 5.1 months of inventory was in August 2012! Last year supply was around 3 months.
  • Pending Sales have also dropped significantly (4087 vs. 7096 for August of last year)
• Venice - 3.8 to 12.2 months of inventory
• West Hollywood - 7.8 to 29 months
• Inglewood - 3.2 months of inventory (Still hot)
• Compton - 3.4 months of inventory (Still hot)
• Culver City - 2.0 months of inventory (Still hot)
• Silver Lake - 1.7 months of inventory (Still hot)

What have you noticed? How would a potential market shift change your strategy? These statistics fluctuate and data can be misleading. Please do your own due diligence.