Right after the end of football season the home buying and selling season begins. In Los Angeles the season starts in February and hits its stride in early Spring. Buyer activity peaks in early Summer and remains strong well into months ending in “ember,” beyond when we move the clocks forward and the days get shorter. It starts earlier here and ends later than in most parts of the country. LA real estate buyers and sellers are not as seasonal as those in other places. Our famous Southern California weather has a lot to do with that.
Pre-Season Starts Online and Early for Home Buyers
Every home buyer searches the internet before visiting open houses or seeing homes with a real estate agent. The early months of the year are a heavy time for online real estate research, especially that being done by out-of-area buyers planning to relocate to Los Angeles in the spring or summer. If you are selling a home in LA, these are buyers you definitely want to reach (many buyers relocating for career reasons are highly-incentivized by employers to buy a home) This year online activity is already especially strong and the very high buyer demand is palpable.
When are most homes listed for sale in LA?
In most years, late spring through early summer is the heaviest period of activity and the time when the most homes are listed for sale in Los Angeles. In the hottest real estate markets that was not necessarily the case last year – we saw more houses than usual hit the market in the Fall. Many homeowners saw neighbors sell for record high prices and decided the time was right to list. More homes in Silver Lake and Echo Park were listed in November, for example, than in any other November this century. That will happen when prices hit new highs. The unexpected late-year inventory boost did little to satisfy the incredible demand for homes in the hills of Silver Lake, by the way.
When is the best time to put a home on the market?
As a seller you want your home exposed to the maximum number of qualified buyers. All other things being equal and in most years, late spring or early summer is the best time to list a home for sale in Los Angeles. Why is that? Many families with school-age children are out looking that time of year in hopes they can find a home and get the move done during summer break. More people look for homes in the spring and summer than any time of year, that’s when your home will be seen by the largest number of qualified buyers, all things being equal. More buyers means more competition and a higher likelihood your home will sell at the highest price possible in the shortest amount of time.
Traditional patterns of buying and selling behavior are not the only factors to consider when selling a property, however. We live in very interesting times.
When should I sell my house?
Let’s talk. Every property in Los Angeles is different. There are a number of things we need to talk about and you will need to carefully consider. I can tell you this: if you are in in Silver Lake, Echo Park, Los Feliz, Atwater Village, Highland Park, Glassell Park, Mount Washington, Cypress Park, Elysian Park, Elysian Valley, Chinatown, Montecito Heights or Lincoln Heights and planning to sell this year, the time is now.
If your neighborhood is “cool” and you are selling this year, the time is now. Here’s why. Buyers are desperate. Buyers have very few options. It is a Sellers’ market. Presented well and priced right, Sellers will receive multiple offers from Buyers. Sellers with homes on the market now are in the driver’s seat and have the negotiating advantage.
Although there are no signs a significant number of homeowners will suddenly decide to sell and flood the market with properties for sale, there will be a lot more homes available for buyers to choose from later in the year. Right now selection is thin. There is something to be said for being the only game in town rather than just another face in the crowd.
Call me at (310) 709-4128 for a free market evaluation of your home today.