SOUTHERN CALIFORNIA'S BUSIEST MARKET IN OVER A DECADE

SOUTHERN CALIFORNIA’S BUSIEST MARKET IN OVER A DECADE

Year-end figures show it was the busiest year for home sales in over a decade years, with the biggest price leap on record.

In December of 2021, the median price of a Southern California home hit a record high for the 10th time in the past 12 months, figures reported by DQ News on Friday, Jan. 21.

Sales in December moderated, as they usually do in a typical year. However the total for the year was the highest since 2006.

Home prices had an annual gains of 16.3%, not just in December but in 2021, meaning last year had the highest price appreciation rate since 2013.

Record high median prices also were recorded in four of the six counties in the region: Los Angeles ($805,000), Orange ($935,000), Riverside ($550,000) and San Bernardino ($485,750).

The reasoning for the current state of the housing market in Southern California the demand far out weighs the supply. As well, agents have tagged the three main reasons for 2021s extreme performance: record-low mortgage rates, record-low for-sale inventory and very high demand, driven by millennials aging into their prime home-buying years. State-wide 72% of home are being sold for above asking price, this is resulting in many potential buyers have turning to renting until the market calms down.

Share:

More Posts

Exploring What Makes True Orange County Property Management Stand Out

In a region as vibrant and diverse as Orange County, the real estate market is nothing short of competitive. Amidst the hustle and bustle, property owners often find themselves overwhelmed with the myriad responsibilities that come with managing their investments. It’s here that True Orange County Property Management steps into the spotlight, offering a unique blend of expertise and personal service that sets them apart in a crowded field. But what exactly distinguishes them from other property management companies operating within this dynamic landscape?

Imagine having the peace of mind that your properties are not just being managed, but are thriving under the care of a team that truly understands the nuances of Orange County’s real estate market. True Orange County Property Management doesn’t just manage properties; they elevate them. With an unmatched commitment to personalized client service and an in-depth understanding of local market trends, they ensure property owners can maximize their investments without the typical headaches. In this post, we delve into the core elements that make them the preferred choice for many, from strategic marketing and tenant retention to meticulous financial oversight. Join us as we uncover the secrets behind their standout success.