As the traditionally fast-moving spring real estate market nears, Costa Mesa sellers who will be listing soon have multiple grounds for optimism—with the scarcity of available properties being the most widely publicized. Now it appears that the long-standing national shortage isn’t just continuing: it’s widening.
According to the latest quarterly report from the National Association of Realtors®, buyers in nine out of ten markets they tracked could find 8.5% fewer homes for sale than had been available just one year before. That was in addition to the host of sunny economic conditions (a “soaring stock market, good economy, and low interest rates”) that were further motivating prospective homebuyers. If the number of local listings echoes the national trend, Costa Mesa sellers could expect an uptick in competition for this season’s properties.
That was the theme of last week’s lead article in Realtor Magazine. “Home Price Hikes Widen Sellers’ Advantage” foretold the effect constrained inventory is expected to have on this spring’s real estate activity. New research pointed in the same direction: median listing prices have been rising at the same time housing supplies and days-on-market decline. According to move.com, January patterns “set the stage for a competitive homebuying season.”
Although the principles of supply and demand would certainly lead to the same opinion, U.S. News & World Report gave a less ebullient reason to agree. In last month’s “Why You Should Sell Your Home in 2020,” they put out a ‘bird in the hand’ rationale. “Especially if you’re on the fence about selling this year or next,” they wrote, “sell in an environment that’s more predictable…” For homeowners who love their current homes, they advised waiting “five years” before revisiting the idea of selling. But for those nearer to a decision to sell, they had definite advice: “Don’t play the waiting game.”
If you are one of those Costa Mesa homeowners having similar thoughts, it looks like selling this season is definitely worth looking into. Do call!
We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at firstname.lastname@example.org