It’s officially fall in LA, and that means cooler days, pumpkin-flavored everything, and a great time to take a look at the Pico-Robertson real estate market. For September 2024, we saw an absorption rate of 37%. Out of 19 active listings, 7 homes sold with an average sales price of $1,729,000 and an average of 27 days on the market (DOM).

What Does a 37% Absorption Rate Mean?

A 37% absorption rate indicates that Pico-Robertson is in a seller’s market, though it’s not moving at a breakneck pace like some other neighborhoods in LA. Homes here are selling relatively quickly, staying on the market for 27 days on average, which is a solid sign for sellers. Buyers, on the other hand, still have some room to negotiate but should be prepared to act when they find the right home.

Why Is Now a Great Time to Spruce Up Your Home?

As we head deeper into fall, now is the perfect time to get a head start on sprucing up your home. With the holidays just around the corner, here are a few reasons why tackling some home improvement projects now can save you a ton of stress later:

1. Get Holiday-Ready: Whether you’re hosting family or just want to impress guests, a clean, well-maintained home sets the tone. Consider a fresh coat of paint or upgrading your front yard landscaping to boost curb appeal.

2. Free Up Your Schedule: If you knock out those little home projects now, you’ll have more time for all the fun stuff that comes with the holidays—like shopping, cooking, and spending time with family.

3. Increase Home Value: Even if you’re not selling right now, making small improvements can increase your home’s value. Something as simple as updating light fixtures or deep cleaning can make a big difference.

4. Beat the Rush: A lot of people wait until spring to make improvements. But getting ahead of the game means you can relax when everyone else is scrambling.

Buyers, Don’t Dip Into Your “New Home” Fund!

Now, if you’re not a homeowner yet, resist the urge to dip into that "new home" savings account during holiday shopping season. I get it, those sales can be tempting, but your future home is a much bigger deal than splurging on the latest gadget or extravagant gifts. Stay focused, keep saving, and you’ll be ready to jump into the market when the time is right.

Looking Ahead in Pico-Robertson

Pico-Robertson is a highly desirable neighborhood, and with an average sales price of $1,729,000, it’s clear that buyers are willing to pay for the quality and location this area offers. Whether you’re thinking about buying or selling, now is a great time to plan ahead and position yourself for success in the real estate market. If you have questions about navigating the market or want to know what your home is worth, feel free to reach out—I’m here to help!

All the best,

Nathan Derry

Realtor, JohnHart Real Estate

📍JohnHart Real Estate

📞(424) 303-0440

📧 nathan@jhagents.com

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