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Johnny Dragon’s Mid-November Newsletter
Please take a look at this short Thanksgiving e-newsletter.
Los Angeles County Market Update
In October 2023, we saw a rise of inventory due to the holidays approaching. This is good news for buyers who have been looking to buy all year. Last month, there was a 9% increase in the number of homes for sale overall in the county, while the average sales price remained steady and average days on market saw a slight increase. More inventory is good for buyers, as they have more choices and may be less likely to be in multiple offers. Sellers, if you’ve owned your home long-term, you have built equity, so this is not bad at all!
In fact, with Thanksgiving and Christmas approaching, there will be less homes on the market and less buyers touring open houses and scheduling showings. However, properties still go under contract during the holidays because the buyers who do come see homes are serious buyers. My listing in Hemet was marketed a week before Christmas and we received a great offer on Christmas Eve, with plenty of showings. Many sellers choose to wait until January or February to list their home for sale, which causes you to have to compete with more homes.
For sellers, a proper pricing strategy and how well you prepare the property is key to selling your home for a great price during a slower period in the market. There is still less inventory this year than previous years, so don’t hesitate to list your home immediately!
Interest Rates Falling
According to yesterday’s Business Insider article, interest rates fell to an average of 7.44% this week. Mid-October, they went up to 8.45% average. If you’ve been on the fence with buying, don’t wait!
Need Ideas for Thanksgiving Dinner?
Yes, we are all going to be rushing this week buying and preparing food for Thanksgiving dinner! However, some of us aren’t sure what to prepare and take with you at the family/friends gathering. That’s ok, because this article lays out what kind of foods you can prepare that are popular amongst your family and friends. This includes mashed potatoes, turkey dressing and green bean casserole.
I am so thankful for you all always! Happy Thanksgiving to you and your loved ones! May you eat well, rest well and have a blast with your loved ones! I appreciate all of your support!
