SoCal Real Estate Market Update – May 2018
Are you searching for information on the Southern California Real Estate market? If so, you’ve come to the right place!
April 2018 was a big month for the SoCal Real Estate market because we definitely saw more homes come to the market as active listings.
Homes Priced Under $750,000 Are Selling Fast
The majority of the homes that came to market last month that were priced under $750,000 are being absorbed very quickly due to the high demand for Real Estate in SoCal.
As for homes that are priced between $750,000 to $1,5,000,000, those homes are sitting on the market for a little bit longer than they did in previous years.
In general, at any price range, if a home isn’t priced aggressively and it doesn’t show well, that home will sit on the real estate market for longer than the sellers expected so it’s possible that we may see more price reductions for homes in the $750,000 to $1,5,000,000 price range within the coming months.
May Is A Great Time To Sell A Home In SoCal
For the most part, we see May as being a healthy selling season for all counties in Southern California but, in spite of it being a great time to sell a home, we still have to keep an eye on mortgage interest rates.
It’s possible that the Federal Reserve may decide to raise interest rates again from May through July and if interest rates continue to increase we could see home sales slow down a bit as rising interest rates may stop some buyers from buying Real Estate in SoCal.
Overall, as of right now, mortgage interest rates are still historically low while demand for Real Estate is high and it’s a perfect time to sell your Southern California home for top dollar.
Contact The Fred Sed Group
To get started with selling your home contact the Fred Sed Group today by calling us at (800) 921-9231 or connect with us online through our website.