So cal multifamily brokerDisclaimer: All information contained herein is obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only. We make no claim(s) as to the accuracy or reliability of the information presented. If you wish for us to analyze your specific property or situation please feel free to call or email us anytime.
Here's What's Happening In The Market, Here’s What This Means For You
Interest Rates Are Heading Up - Here’s What to Watch
While interest rates are projected to remain near historic lows for the immediate future, 2022 could be a pivotal year. Real estate investors should be closely monitoring their portfolios and taking advantage of current market conditions and rates, whether they are in a position to buy, sell or refinance. The debt markets are expected to remain quite busy through the end of 2021 and into next year as investors continue to capitalize on the favorable lending environment while it lasts.
Let me know if you'd like me to give you a valuation on any of your current investments to help you make a more informed decision. The 1031 exchange provision has survived the latest versions of the Build Back Better proposals currently being debated in Congress, so take advantage of an exchange opportunity while rates are historically low.
Orange County
Orange County multifamily had 6 Closed Sales Last Week. All weekly sales stats are on the low side due to the Thanksgiving holiday. The Closed Sales - Average Days on Market was 56 days. This stat is higher than usual. It’s usually around 30 days. Half of or 3 of the Closed Sales Last Week were Transactions Sold At or Above Asking Price.
Orange County had just 2 New Listings Last Week. The Total Number of Active Listings dropped down to 118 total listings. The previous low for the number of active listings was 119 listings 4 weeks ago. At 118 listings, this is the lowest number of active listings so far this year. Active buyer activity was still relatively strong with 5 listings moving to Active Under Contract Last Week and 5 listings moving to Pending status last week.
List of Closed Sales
Southern California
Long Beach multifamily had 3 Closed Sales Last Week. This stat is also low due to the Thanksgiving holiday. The Closed Sales - Average Days on Market was higher than normal at 54 days. Three out of the last 5 weeks have seen increased days on market for Long Beach multifamily sales.
Long Beach had just 3 New Listings Last Week. The Total Number of Active Listings is now down to 76 listings. The previous low was 84 total listings in the prior week. The Total Number of Active Listings has been in a steady decline over the last 2-3 months.
List of Closed Sales