In all three Southern California markets, new inventory growth has pressed higher across the market for the past three months, enabling more sales, the report said.
Single-family properties between $1 million and $2 million topped transaction volume with 676 new contracts signed in Los Angeles County in March, marking a 36 percent increase compared to a year before, according to the report.
More sellers seem to have adjusted to the Measure ULA transfer tax as the new normal, with a 35 percent jump in new listings for properties over its $5 million threshold. There were 172 new listings in March, compared to 124 in February.
In the condo segment, contracts signed for the $800,000 to $1 million listings have seen the biggest jump, increasing 65 percent from the year before. The March 2024 volume was also up 21 percent from the previous month.
#southern-california-housing-market #inventory-growth #real-estate-trends #property-sales #market-demand
[
add
]
[
|
|
...
]