This is the Week when Property Profits Peak
Realtor® Magazine says that history shows that this is the week when “Homeowners looking for the greatest price premiums may find the best opportunities.” That would certainly be edifying for area homeowners who have already listed their Costa Mesa properties. And for those who’ve been on the fence, the just-released report by the ATTOM analysts might well serve as a reason to join them sooner rather than later.
ATTOM is the self-described “leading curator of real estate data” from throughout the U.S. Their multi-sourced records cover 99% of the nation’s population. For readers who are familiar with spreadsheets, the scope is impressive—their 20 terabytes of data fill nearly 30 billion rows of transaction-level data, further broken out into 9,000 data attributes.
That’s a lot of data attributes.
All that historic information is for sale to specialists, but even John Q. Public can guess that at least one of the attributes must be “seller premium” because that is the subject of last week’s press release, Sellers May Nab Highest Price Premiums in May. Seller premium is a measure of the premium above market value that buyers have paid at closing. This is calculated as a percentage of actual dollars paid above the standard automated valuation model (AVM) figure. Needless to say, every additional percentage point shown in the ‘seller premium’ column would make for some champagne-glass-raising.
It has long been generally accepted that spring and summer are the best seasons for home seller profits—and this new analysis of sales from 2010-2021verifies that. But beyond that, the top three months are upon us.
May shows an average seller premium of 12.6%.
June comes in second, with 10.7%.
July is third, with 10%.
In case you are one of those whose Costa Mesa property is currently listed, this week in history has included three of the top five days of the year (May 16, 19, and 20)—days when price premiums have peaked between 15% and 18% over the past 11 years. That is perhaps doing a bit finer analysis of the data than is really meaningful, especially since these are the U.S., rather than specifically Costa Mesa, results. Even so, the May, June, and July premiums really do look intriguing. If your own Costa Mesa property is part of the soon-to-list category, the timing could hardly be better! We hope you’ll give us a 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 info@thel3.com
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