And, on to the home sales info as noted in the title above! As you know, I include all neighborhoods from Acton to the East, Stevenson Ranch to the West, Newhall the South, and Castaic North. We sell them all and outside of SCV of course as well.
Currently we have:
15 in the Coming Soon category / 552 Active for Sale
331 In Escrow / 241 Sold in the Last 30 Days
But, check this out ....
Well, if you can read the tiny print that is. If not, it's the price changes on listings in the last 24 hours. 16 did price changes, all but 3 were price adjusted (the latest lingo for a reduction) down. Yes, down.
So, times are a changing for sure. Will they likely move over to a buyers market? Price reductions, increase in inventory (we currently have 2 months of inventory), and now a 1/2 point average home loan interest rate reduction?
We shall see. I'm expecting a more balanced market for sure as the interest rates go down. Well, we were supposed to see a rate reduction several times this year, finally got one. But, as inventory climbs, and getting home insurance continues to be a California problem, Sellers need to be really aware that just throwing up a sign is not going to necessarily be getting a home sold quickly nor for the price they want.
And, now, with the upcoming implementation of the NAR settlement? Oy, it's going to be a poop show for a bit. And, a lot of unscrupulous agents will mess it up for the good ones. So, stick with us, the SMART and HONEST ones. We'll take care of you, the way the rules read.
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