Will Rising U.S. Demand Encourage Costa Mesa Listing?
As December began, at least one Washington Post report—the one from award-winning real estate reporter Michele Lerner—didn’t spare the superlatives. For Costa Mesa homeowners looking to add their home to the Costa Mesa listings, the details could scarcely have been more auspicious. According to the headline, buyer demand in the month just ended wasn’t just good. It was record-setting.
Lerner relied on two separate reports from Redfin for much of the data that validated the claim. One index which records buyer demand as reflected in requests for house tours and various other home-buying services eclipsed the previous record. By another measure, 45% of U.S. properties were sold within two weeks of being listed—during the four weeks ending November 14. Thirty-two percent of them were sold within seven days. Both are also records, despite today’s higher prices.
One of the key factors for record-setting buyer demand was the “increased appetite” being acted upon by investors. Over 18% of home purchases were made by investors, up from 11.2% in 2020. Furthermore, many were not being bought as “buy-and-flip” purchases but as investments destined to generate rental income. That shift could partially explain why sales volume remained active despite significant price rises. With fewer investors deciding not to return the homes to the marketplace, active listings were down a startling 22% compared with the same period in 2020.
For local homeowners, November’s national results were bracing—possibly enough to warrant adding their own properties to the Costa Mesa listings. More specifically, for the latest in our local results, give us a call anytime!
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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