Market Trends and Insights: March 2024 South Bay Real Estate

Market Trends and Insights: March 2024 South Bay Real Estate

  • 03/31/24

March 2024 Market Report

(click on arrows to navigate through flipbook)

 
 
 

Market Statistics and Analysis

The chart below shows the “Average Days on Market” and “Sold/List Price Percentage” in the County of Los Angeles since December 2022. The average days on market trend was rising and the sold/original list price ratio remains steady.
 
Mortgage rates are likely to remain relatively unchanged in March. A decisive drop in rates probably won't happen until the Federal Reserve signals that it's satisfied that inflation is headed toward the central bank's goal of 2%.
 
Key Takeaways:
  • Mortgage rates are likely to remain constant
  • Los Angeles is still in a seller’s market

February 2024 Average Days on Market trend was Rising*

Average Days on Market in February 2024: 36

0% compared to last month
Down 18.2% compared to last year


February 2024 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in February 2024: 97%

Up 1% compared to last month
Up 4.3% compared to last year


*Based on 6 month trend - Rising/Falling/Remains Steady

 

Work With Rachel

Rachel has a strong business ethic and unparalleled dedication to her clients. She is committed to providing extraordinary customer service! Rachel is a premier choice and client favorite for local home buyers and sellers. Rachel believes when choosing an agent to sell your property it is imperative that you select someone who is experienced in selling and buying properties in the area.

Follow Us on Instagram