Greetings, Mid City residents and fellow real estate enthusiasts! Nathan Derry here, your trusted Realtor from JohnHart Real Estate. Let's dive into the latest real estate trends and opportunities unfolding in Mid City as of January 2024.

January 2024 Real Estate Recap: Mid City, 90019

In the heart of Mid City, the real estate landscape is both dynamic and promising. For the month of January 2024, we observed an absorption rate of 17%, indicative of a market where strategic decisions can make a significant impact. Among the 30 active listings, 5 homes found new owners, reflecting a balance between supply and demand. The average sales price settled at $1,125,000, and homes spent an average of 63 days on the market.

Insights into Mid City Real Estate Dynamics

Mid City's appeal lies in its vibrant culture, diverse community, and convenient location. The absorption rate suggests a market where homes are sought after, and buyers have the opportunity to explore diverse property options. If you're considering buying or selling in Mid City, these trends signal that strategic moves can yield favorable results.

As your dedicated Realtor, I'm here to guide you through these intricacies. Whether you're a first-time buyer, seasoned investor, or homeowner looking to sell, understanding the local market is crucial.

Unlocking Opportunities with AB 1033: The ADU Advantage

Now, let's talk about a game-changer for homeowners and investors – Assembly Bill 1033 (AB 1033). This legislation opens up exciting possibilities for those looking to maximize their property's potential. By adding Accessory Dwelling Units (ADUs), property owners not only contribute to addressing California's housing challenges but also unlock long-term benefits.

Key Benefits of AB 1033 and ADUs:

1. Increased Property Value: ADUs add value to your property, potentially increasing its market value.

2. Rental Income Potential: ADUs provide an opportunity for additional rental income, offering financial flexibility.

3. Flexible Living Spaces: ADUs can serve as guest houses, home offices, or living spaces for family members.

4. Contribution to Housing Solutions: By adding ADUs, you play a role in addressing the need for more housing options in California.

5. Long-Term Investment: ADUs are a long-term investment that aligns with the evolving needs of homeowners.

In conclusion, the current real estate landscape in Mid City offers exciting possibilities. If you're intrigued by the potential of AB 1033 and the benefits of ADUs, now is the perfect time to explore these opportunities.

Feel free to reach out if you have questions or if you're ready to make strategic real estate moves in Mid City. I'm here to assist you on your real estate journey.

Best regards,

Nathan Derry