Why Now’s Not the Time To Take Your House Off the Market – Especially in Los Angeles and Beverly Hills, CA
Why Now’s Not the Time To Take Your House Off the Market – Especially in Los Angeles and Beverly Hills, CA | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
Has your house been sitting on the market longer than expected? If so, it's understandable to feel frustrated. You might even be considering pulling your listing and waiting until 2025. However, doing so could actually cost you in the long run. Here’s why staying the course and keeping your home on the market in competitive areas like Los Angeles and Beverly Hills could be the smarter move.
Other Sellers Are Pulling Back—But Should You?
According to data from Altos Research, more sellers are withdrawing their listings as we head into fall. This seasonal trend is common, as many people opt to wait for the new year. In areas like Beverly Hills and the Westside of Los Angeles, homeowners may think that waiting for a better market in 2025 is the right strategy. As Mike Simonsen, Founder of Altos Research, notes:
“. . . we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year.”
However, while it may seem appealing to pull back, this approach might not pay off, especially in markets where high-end properties are in demand. Beverly Hills, Bel Air, and Brentwood luxury homes often attract serious buyers throughout the year. If you remove your home from the market now, you could miss out on these motivated buyers.
Today’s Buyers Are Serious and Ready To Act
The most compelling reason to keep your listing live is that the buyers shopping this time of year are serious about making a purchase. In markets like Los Angeles and Beverly Hills, where luxury real estate is a significant investment, these buyers have been waiting for the right time, and now that mortgage rates are starting to ease, they are prepared to act.
With mortgage applications on the rise, buyers are eager to secure their next home, especially before the holiday season and the end of the year. As Freddie Mac explains:
“During the fall months, serious homebuyers are eager to settle into a new home before the holiday season ramps up and the winter weather begins.”
For those looking to buy luxury estates in places like Beverly Hills or Pacific Palisades, this timing is ideal. Keeping your home on the market increases your chances of attracting these highly motivated buyers who are ready to close quickly.
What This Means for Your Los Angeles or Beverly Hills Property
In a highly competitive market like Los Angeles, where demand for luxury properties remains strong, especially for $10M+ homes, pulling your listing could mean missing out on the right buyer. Homes in prime neighborhoods such as Beverly Hills, Bel Air, and Malibu are often sought after year-round, and serious buyers are still out there, especially with improved mortgage rates and rising market confidence.
Bottom Line
While some sellers may be taking their homes off the market as we enter the fall, this is not necessarily the best move, especially for sellers in Los Angeles and Beverly Hills. Serious buyers are still looking to purchase, and now is a great time to sell your house. Let’s connect to make sure we have the right strategy in place to help you sell your luxury property in one of LA’s hottest real estate markets.
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