Homes in Costa Mesa Bidding Farewell to a “Savage” Market?
When a reliable real estate monitor like HousingWire.com proclaims a turn toward “more normal market conditions,” you’d think that simplifies the task of determining rational asking prices for homes in Costa Mesa. Last week’s headline (“The savagely unhealthy housing market is over”) implied as much: a U.S. market heading for a more predictable course for real estate’s fast-approaching active season.
HousingWire’s optimism was based on an increase in January’s national average Days on Market, which exceeded 30 days for the first time in a good while. The National Association of Realtors® pegged the national average at 33 days. That was a little less than a week’s increase over the previous month’s average, marking a noteworthy increase from the 19-day average chalked up in January 2022.
If last year’s ‘savagely unhealthy’ and volatile seller’s market conditions do in fact become more healthy (and civilized?), homeowners and their agents could be expected to place increasing confidence in the factors that have traditionally provided the bases for on-target asking prices:
- Comparable research;
- Subject property’s unique features;
- Current Costa Mesa market activity; and, sometimes,
- Professional appraisals.
Then, following the market’s reception, the equally important factor should an adjustment be needed:
- Being realistic.
Everyone wants to get the highest possible price for their Costa Mesa home, but that can include the willingness to recognize real market feedback—the ultimate, no-guesswork research. Call us anytime to discuss the latest local activity; and what’s to come!
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 info@thel3.com
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