Video: Real Estate Community Tour for Lake Balboa, CA
See Real estate community tour for Lake Balboa, CA
Welcome to March's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of March. The number of active listings was down 16% from one year earlier, and down 10% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 480-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 44%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 460-thousand dollars. The number of units sold decreased 87% year-over-year, and increased 100% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.