Real Estate Market Update 2020 South Bay Edition
South Bay Real Estate update 2020 Year End Stats Video
Welcome to my Real Estate Market Update 2020 South Bay Edition! Wow… 2020 was tons of fun! NOT!
We started off with Low Inventory and dropping interest rates… which was causing homes here in the South Bay –LA– to sell pretty quickly.
Then the Pandemic set in in March and everything stopped.
In May… we were all realizing that this Covid thing wasn’t going away any time soon
& so people started venturing out and buying homes again in this new weird Covid environment.
By June… homes that were priced right were selling pretty quickly and we saw multiple offers in most price ranges (if they were priced correctly) which is ALWAYS frustrating for home buyers while home sellers L O V E that kind of market environment.
Us real estate agents… well it’s frustrating if you’re working with buyers and it’s also frustrating when you’re working with sellers in this kind of market.
How so you say?
If we’re working with buyers in a hot market… you often have to make a lot of offers on a lot of houses until you can get one accepted.
That’s another video.. .watch this one (POINT UPPER LEFT) after you’re done here.
If you’re working with sellers and let’s say you get 10 offers on your listing.
The seller is usually happy… but for every ONE happy buyer… there’s 9 other buyers and 9 other agents who hate me because the seller didn’t accept their offer.
Soooo that’s pretty fun…
Meanwhile… because of all that… prices were moving upward because of low supply & high demand combined w/ dropping interest rates…
If you’ve watched this channel before… you’ve probably heard me say this a few times this last year
like… a LOT!
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Well… how did the Beach Cities Fare then?
Let’s take a look! Also… For you number nerds… there’s a link to all these slides below or in my bio… good luck!
You’ll have to watch the video to see what’s going on there.
There you go! You probably didn’t see that coming! Plus… we’re looking at 30 year fixed mortgage rates right now in the high 2%’s to 3%! FIXED!
If you’re looking to sell in 2021- view and download my Home Selling Checklist
And…If you’re thinking of buying a house – view my Home Buying Guide
The links are below or in my Bio. It’s digital ANNND there’s no fingerprints!
Call or write me so I can help you in your Quest!
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Daryl Palmer Real Real Estatetist
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