As the calendar flips to September, I can't help but reflect on the ongoing challenges and opportunities in the 90035, Pico/Robertson real estate market. In this month's update, we'll dive into the nitty-gritty of our local market statistics, focusing on the Absorption Rate, Median Sales Price, and the perpetual issue of housing shortages.

The Numbers Speak Volumes

For September 2023, the numbers paint an interesting picture. With an Absorption Rate of 17%, 23 active listings, and 25 sold properties, the local market is, without a doubt, a tight ship to navigate. And when you consider the median sales price of $2,840,500, it's clear that demand remains high.

But what's truly captivating is the average Days on Market (DOM) – just 25 days. It tells us that desirable properties are flying off the market almost as fast as they're listed. Homebuyers are on a mission, and competition is fierce.

The Housing Shortage Conundrum

For those of you keeping a close eye on the real estate market, you know that the issue of housing shortage is not new. It's a nationwide challenge that's playing out right here in our 90035, Pico/Robertson community.

Here's why we find ourselves in this housing shortage conundrum:

1. High Demand: The appeal of the 90035 area, with its vibrant neighborhoods, top schools, and proximity to cultural amenities, keeps drawing prospective buyers.

2. Low Inventory: Sellers are understandably reluctant to part with their properties in a seller's market, fearing they may struggle to find a suitable replacement.

3. Low-Interest Rates: Historically low-interest rates are motivating buyers to act quickly and secure their dream homes before rates potentially rise.

What's the Best Strategy?

Given the dynamics of our current market, it's essential for both buyers and sellers to be well-prepared. For sellers, this is an opportune time to list, but have your post-sale living situation planned out. For buyers, patience and flexibility may be your best assets.

The 90035, Pico/Robertson market may be tight, but opportunities are out there. While the numbers might seem daunting, a seasoned Realtor can help you navigate the market with confidence and make informed decisions. With the right strategy and guidance, you can still find or sell your perfect home.

If you're looking to buy or sell in our dynamic real estate market, I'm here to help. Feel free to reach out to me at 424-303-0440. Together, we can unlock the doors to your next real estate adventure in 90035.

The information and data in this article are based on the market conditions as of September 2023.

📍JohnHart Real Estate
📞(424) 303-0440
📧 itsnathanderry@gmail.com
🤖 nathan@jhagents.com
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