If you are listing your home on the Santa Monica real estate market you’d better be prepared for your home to sell fast. Santa Monica real estate agents are reporting that their customers’ homes are selling almost as quickly as they’re getting on the market thanks to a number of different aspects. The Santa Monica real estate market is slowly transforming into a seller’s market again and is one of the more prosperous markets when compared to other surrounding areas. The average list price for a home on the Santa Monica real estate market has increased almost 20% with the average number of days on the market decreasing by 24%. There are also currently no distressed properties listed on the Santa Monica real estate market, which is something that hasn’t happened in quite some time; this shows just how much property values have increased because many homeowners that used to be underwater no longer are and can complete an equity sale if need be.
Buyers are snapping up good, quality properties the minute they become available on the Santa Monica real estate market and it is due to a decrease in inventory. There are 21% fewer homes on the market than there were compared to a year ago. This means that when a buyer sees a property they like, they have to jump on it for fear that it may not be there in a few days. In conjunction with still low interest rates, this makes the Santa Monica real estate market a hot one as of late.
If you want to take advantage of a low inventory and buyers that know what they want contact your Santa Monica real estate agent today and tell them you’re ready to list your home on one of California’s hottest real estate markets.