Silicon Beach Market Update
The latest MLS data dropped last week, so we're in the midst of our monthly ponderings about the state of the market. The national news has been trumpeting that the market is undergoing a big shift with lots of new listings hitting the market. That national news, even if true someplace, is certainly not what we're experiencing here in Silicon Beach!
If you look at the numbers in the graphic above, new listings in Silicon Beach are down by 143 listings compared to the previous month! Similarly, the number of listings moving into escrow was also down by 141 listings. Closings were down 49 properties. Naturally, listings can't move into escrow and closed status if they don't exist. 😑
Why aren't people moving? Is it because families don't need one more thing with their unvax'd kids? Is everybody still tired from our long pandemic ordeal? I don't get it. I've got clients ready to buy (so they're ready to move), but nothing is on the market for them, despite reasonable lists of requirements. Are you in a wait and see stance yourself? Drop us a line. We're always interested in knowing what buyers and sellers in the trenches are thinking.
We posted our analyses for the most recent data available for Manhattan Beach, Westchester and Venice on our blog. MB and Westchester remain super seller markets. Even Venice, a strong buyer market for as long as I can remember, is trending toward sellers in a bigger and bigger way.
Local Trendlines
What is the state of play in your target community? Is it a buyers' market? Is it a sellers' market? How strong is the trend? We're here to tell you that in Silicon Beach, the seller versus buyer market debate is a community by community analysis.
We talk tons about market trends on our blog, where we just posted our take on the new MLS data out for Manhattan Beach, Venice and Westchester. Find those posts at GetTheTrendline.com.
Are those not your personal target communities? Custom charts and reports are always available on request. 😍 We can report on all property types, zip codes and custom drawn boundaries. Just ask!
Here are the general trends for six of our Silicon Beach communities. Notice that new listings are down in every community shown. Let us know how we can help you discover the trendline for your target community. Text the word TRENDLINE to 424.228.9969.
You'll hear us talk a lot about trendlines. Why do we make a big deal about them? If the trends favor sellers, it's one negotiation strategy for buyers and if the trends favor buyers, it's another. We regularly report on Venice, Westchester and Manhattan Beach. Read more on GetTheTrendline.com.