The Surprising Trend in the Number of Homes Coming onto the Market in Los Angeles and Beverly Hills, CA
The Surprising Trend in the Number of Homes Coming onto the Market in Los Angeles and Beverly Hills, CA | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert.
For those considering a move in the vibrant real estate markets of Los Angeles and Beverly Hills, understanding current housing trends is crucial. Let's dive into the latest updates on the supply of homes for sale in these elite areas, which is a key factor for both buyers and sellers.
Understanding Seasonality in LA and Beverly Hills Markets
In real estate, seasonality is a well-known phenomenon, with spring typically being the peak homebuying season. This is when most homes are listed for sale. However, in the second half of the year, new listings usually decrease as sales slow down. This pattern has seen some shifts in recent years, especially in the high-demand areas of Los Angeles and Beverly Hills.
Analyzing Current Trends
Data from Realtor.com shows that from 2017-2019, the Los Angeles and Beverly Hills markets followed typical seasonal trends. However, starting in 2020, these patterns were disrupted due to the pandemic. What's intriguing about 2023 is that, unlike previous years, the expected decrease in new listings hasn’t occurred. Instead, there's a stabilization in new listings, with even more homes coming onto the market compared to last year.
Implications for Buyers and Sellers in Los Angeles and Beverly Hills
For buyers in Los Angeles and Beverly Hills, this trend offers a more consistent selection of properties. The variety and steady flow of new listings provide ample opportunities to find homes that meet specific needs and preferences.
Sellers in these areas are also in a unique position. Despite the break from seasonal norms, inventory remains lower than pre-pandemic levels, keeping the market competitive. Homes in Los Angeles and Beverly Hills, known for their luxury and exclusivity, continue to attract attention, giving sellers an advantage in this less saturated market.
Conclusion
In the distinctive markets of Los Angeles and Beverly Hills, understanding these trends is key to making informed decisions. Whether you're looking to buy your dream home or sell in these prestigious locales, now is an opportune time. For tailored advice and insights into the availability of homes in Los Angeles and Beverly Hills, connecting with a local real estate expert is your next step.
Call Christophe Choo at (310) 777-6342 to tour your future home "HERE" or click "HERE" to estimate your home value.
