Why More Homes Hit the Market in Fall 2024: A Beverly Hills & Los Angeles Real Estate Update

Why More Homes Hit the Market in Fall 2024: A Beverly Hills & Los Angeles Real Estate Update | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert

As summer wrapped up this year, something unexpected happened in the real estate market: more homeowners decided to list their homes for sale, defying the usual fall slowdown. In Los Angeles and Beverly Hills, CA, this trend was noticeable as mortgage rates slightly dropped in mid-August, prompting homeowners to take advantage of the opportunity. According to Realtor.com, the number of homes coming to the market in September 2024 rose by 11.6% compared to the same time last year. This rise in inventory gives buyers more fresh options to choose from, including luxury homes in the prestigious neighborhoods of Beverly Hills and the surrounding areas.

For buyers looking for a new home in areas like the Flats of Beverly Hills, Bel-Air, or the Hollywood Hills, now is a great time to explore more listings before mortgage rates and inventory potentially shift again. As interest rates have been volatile, keeping an eye on the market and working with a trusted real estate agent is key to finding the right home at the best possible price. Whether you're searching for a dream home in the heart of Beverly Hills or a luxury estate in the hills, this influx of new listings could provide the perfect opportunity to find your next home.

Bottom Line: With more homes on the market, now might be the best time to buy in LA's luxury market. Let’s connect and seize the opportunity before the market tightens again!

Call Christophe Choo at (310) 777-6342 to tour your future home "HERE" or click "HERE" to estimate your home value