Welcome to fall in Palms, 90034! It’s that time of year when the leaves change color (okay, maybe not so much in LA), the air gets crisp (kind of), and the real estate market shows signs of slowing down—or speeding up, depending on who you ask. September 2024 was an interesting month in Palms, with an absorption rate of 35%. For those unfamiliar with real estate jargon, the absorption rate is a measure of how fast homes are selling in a particular area. In Palms, out of 37 active listings, 13 homes sold with an average sales price of $1,697,000 and an average of 40 days on the market (DOM).

What Does a 35% Absorption Rate Mean?

A 35% absorption rate indicates a balanced market, leaning slightly toward a seller’s market. While it’s not a super-fast-paced market like we see in some parts of LA, homes in Palms are moving steadily. Properties are staying on the market for an average of 40 days, which gives both buyers and sellers time to negotiate deals but still reflects decent demand.

For buyers, this means you’ll need to move quickly if you find a property you love, but there’s no need to panic. For sellers, pricing your home correctly and sprucing it up for potential buyers will increase your chances of a smooth sale.

It’s Fall—Time to Spruce Up!

Speaking of sprucing up, fall is the perfect time to give your home a little love before the holiday season. Here are a few ideas to get your home in top shape before the chaos of holiday gatherings, shopping, and year-end madness sets in:

1. Deep Clean and Declutter: The holidays are coming, and you know what that means—decorating! Get ahead by cleaning and decluttering now. That way, when it’s time to set up the tree or menorah, you won’t be overwhelmed by clutter.

2. Enhance Curb Appeal: First impressions matter! Consider refreshing your landscaping with some fall-friendly plants, or a fresh coat of paint on the front door.

3. Maintenance Check: Get those annual maintenance tasks out of the way, like checking your HVAC system or cleaning out the gutters. Nobody wants a heating emergency in the middle of a festive gathering.

4. Simple Upgrades: If you’re considering selling in the near future, small upgrades can make a big difference. Think new light fixtures, faucets, or a coat of neutral paint.

By tackling these projects now, you’ll free up a lot of time for holiday shopping and spending time with loved ones. Plus, a well-maintained home is much easier to sell if you decide to list!

Don’t Dip Into Your "New Home" Fund!

Now, if you’re not already a homeowner, let me offer you a little friendly advice: Don’t dip into your "new home" account during the holiday shopping frenzy. Sure, it’s tempting when you see those flashy deals or want to splurge on gifts, but your future home is a bigger investment. Keep saving, stay on track, and before you know it, you’ll be sipping eggnog in your very own home.

Looking Ahead in Palms

With an average sales price of $1,697,000 and a balanced absorption rate, Palms remains a desirable neighborhood for both buyers and sellers. If you’re considering buying or selling in this area, now is a great time to start planning. I’m always here to help with any questions, whether you’re just getting started or ready to make a move!

All the best,

Nathan Derry
Realtor, JohnHart Real Estate

📍JohnHart Real Estate

📞(424) 303-0440

📧 nathan@jhagents.com

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