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Here's What's Happening In The Market, Here’s What This Means For You
As anticipated, the last week of 2021 was a slow week for new listings and listings under contract activity. Closed sale activity was strong in Orange County (15 closed sales), LA County (129 closed sales), and San Bernardino County (18 closed sales) as buyers and sellers worked to get transactions closed before the end of the year.
We are at an extremely low inventory level throughout Southern California. I expect new listings to start hitting the market gradually over the next couple of months. Most properties are still selling either at or the above asking price. With such low inventory levels, I don't see that changing anytime soon. There have been fewer all-cash transactions lately, so if you're a buyer who needs to obtain financing, you have a good chance to secure a property as long as you are aggressive with your offer.
Most areas are seeing very little change in cap rates and gross rent multipliers. Every property needs to be looked at from its own perspective regarding cash on cash return and the practicality of the investment. These are areas where I can help you make sure you're making a good, solid investment that makes sense. Feel free to call or email me with any questions you might have on a particular property and I'll help you analyze it.
Orange County
List of Closed Sales
Southern California
List of Closed Sales