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June 2021 — Houses are selling for all-time high prices

 

June 2021 — Houses are selling for all-time high prices

Homes are selling for historically high prices in May 2021

Homes are selling for historically high prices in May 2021. With house prices on the rise, the average home appreciation in Los Angeles has significantly in a year. For example, in the last 12 months, the average sales price per square footage for a single-family house in Los Angeles was $746 a square foot. In May, the average square footage rose to $777. That is a 4.2% increase for May alone! The number of days until sold has also dropped from 36 to 21, respectively. We find that homes sell for more (on average 5% over list price) and faster and expect this trend to continue for some time. Click here for the market report.

As a homeowner, here are some ways you can benefit from the appreciation value of your house.

  • Selling the house and gaining appreciation.
  • If you are paying for private mortgage insurance on your house, consult with a lender if refinancing is an option to remove the PMI cost based on your home's current value.
  • Cash-out refinance and invest, possibly purchasing more property.
  • Do absolutely nothing and enjoy knowing your wealth is growing :)


Selling a house in 2021 is a good idea for some.

There is more to consider than just price. If you still love living in the home, there may be other reasons why it may be a good time for you to sell. Here are reasons I find people selling in today's market.

  • Leveraging the appreciation of their homes in California and selling to move out of state and make their money go further. 
  • Taking advantage of Prop 19 to move to another home and keep similar property taxes
  • Are tired of being a landlord and looking for automated investments
  • "Timing the market"
  • Moving to a larger home because of the need for space for an office or children's room

Selling a home in 2021 is a good idea for some, but not everyone. Give me a call and I can consult you for free to find out if this is the right option for you.

How to make sure you are ready to sell your home

Here are some great tips for home selling tips:

Have your home inspected by your REALTOR®, like myself, which is absolutely free. Here is what I can do for you.

  • Check if there are any issues with your title to be ready for sale.
  • Show you what home buyers are looking for today to get the most money for your home.
  • Have a game plan on the timeline of selling your home.
  • Education on how we can modify the contract to best suit the terms you are looking for.
  • Show you a proven marketing plan on how to get the most money for your home.

In conclusion, it is essential to speak to a REALTOR® like me before spending time and money figuring out how to sell the home and what to expect. Don’t get caught up in the frenzy of getting your home ready for buyers before consulting with a pro! I hope this reading was helpful to you, and please feel free to ask me any questions you have about selling your home!

Do you want to know how much the current sales price of your home?  I can tell you how much a property is worth in today's real estate world with a personalized Comparative Market Analysis. Text me @ 323-909-2937 "please run a CMA on my home" to get your personalized home evaluation.

As always, we'd love to hear from you! If you have any questions about mortgages, home loans, or our blog, send us a note. Thank you for visiting our blog, and we look forward to your thoughts and questions. Are you ready for another month of buying tips, tricks, and strategies? Please email me at chrisitianbuitron@kw.com and say I want to join your private mailing group. I send off-market properties, real estate tips and tricks, and relevant information on the current market.

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