No one wants to have to pack boxes and move heavy furniture in summer heat. However, after taking a downturn in recent months, Los Angeles home values are on the increase as of July 2023, according to Zillow’s Home Value Index.
Los Angeles Seasonality Is Different
Realtor.com economic data analysts talk about California’s seasonality, which differs from other areas of the country. Typically, the real estate market sees more demand from buyers during winter and spring months. This is in direct contrast to colder states, where far fewer sales and moves occur during winter and wet early spring months.
You may see information to the effect that mid-April is the top month for home sales. This is true nationally, but January and March are usually the top months for home sales in Los Angeles.
Although experts are predicting that there could be continued fluctuations in sale prices and home values in Los Angeles throughout the rest of 2023 and into 2024, the area is still experiencing job growth and wage growth. There is still a low resale inventory of homes in LA, which means any home that goes on the market will be in demand.
Work With Professionals Who Know The Market
If you’re looking to sell your home in Los Angeles, now is a good time to plan the process and investigate your opportunities. Realtor.com analyst Hannah Jones says that “every season has both upsides and downsides for sellers.”
Jones recommends that potential sellers should “evaluate their local housing market” when deciding when to put their home on the market.
Los Angeles is the second largest city in the United States, and the LA Metro area is as large as the New York Metro area. Within the LA Basin, San Fernando Valley, Westside, and Orange County, the “best time to sell” will vary. This is why it’s a good idea to work with experienced professionals like California Platinum Realty and California Platinum Mortgage. They can help you to determine your best time to sell your home in Los Angeles and achieve the best-possible sales price along with an excellent experience.
Palm, Iman. “This is the best time to sell a home in California,” KTLA 5, 6 May 2023, url: https://ktla.com/news/california/this-is-the-best-time-to-sell-a-home-in-california/Santarelli, Marco. “Los
Angeles Housing Market: Prices, Trends, Forecast 2023,” Norada Real Estate Investments, 29 August 2023, url: https://www.noradarealestate.com/blog/los-angeles-real-estate-market/