Greetings, Harvard Heights residents and fellow real estate enthusiasts! Nathan Derry here, your friendly neighborhood Realtor from JohnHart Real Estate. Let's dive into the vibrant real estate landscape of Harvard Heights for the month of December 2023 and explore some key trends shaping the local market.

December 2023 Real Estate Recap: Harvard Heights, 90006

In the heart of Los Angeles, Harvard Heights stands as a community with a rich history and a housing market that reflects the pulse of the city. Here's a snapshot of the real estate activity in Harvard Heights for December 2023:

• Absorption Rate: An impressive 64% absorption rate signifies a dynamic market where properties are finding new owners swiftly. Among the 11 active listings, 7 homes secured new owners, showcasing a healthy balance between supply and demand.

• Average Sales Price: The average sales price settled at $605,000, underlining the diverse range of properties available in this iconic neighborhood.

• Days on Market (DOM): Homes spent an average of only 32 days on the market, emphasizing the efficiency of transactions in Harvard Heights.

Insights into Real Estate Dynamics: Low Inventory and Rising Prices

Harvard Heights, like many sought-after neighborhoods in Los Angeles, is experiencing the impact of low inventory on home prices. Despite challenges such as high-interest rates, the demand for homes remains robust, leading to a continuous rise in property values.

For those contemplating homeownership, it's essential to recognize that waiting for the "perfect" conditions may not always be advantageous. The current market dynamics suggest that property values are on an upward trajectory. Instead of waiting for a hypothetical ideal moment, consider the long-term benefits of homeownership, including building equity and enjoying the pride of owning your own piece of Harvard Heights.

Navigating the Path to Homeownership in 2024

As we step into the new year, aspiring homeowners should stay informed about market trends, explore available financing options, and work closely with a knowledgeable Realtor. Don't let high-interest rates deter you—consult with me, Nathan Derry, to discover tailored strategies for achieving your homeownership goals.

Remember, the best time to become a homeowner is when you're ready, and the Harvard Heights market offers opportunities worth exploring.

Wishing you all a prosperous and joyous new year!

Best regards,

Nathan Derry
JohnHart Real Estate