April 2021 Market Update: Southern California

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Key takeaways for the month

The Southern California market as a whole continues to be very active with buyers paying over list price and buying quickly. 

  • Expect rising prices in the coming months. Despite slight downward fluctuations in median sale price for single family homes in West LA, San Gabriel Valley, and Irvine, the market across the region shows strong activity. Median list prices stayed roughly flat or increased, indicating that sellers are confident in the market. The Eastside is an exception, with a -3.1% decrease in list price, which may indicate a seller strategy of listing low to encourage bidding wars. 
  • Eastside homes that are getting offers are getting multiple offers. The Eastside saw a 19.1% month over month increase in the number of single family homes listed, but a dip of -4.3% in the number pending (which reflects homes that were listed in the previous month). This indicates that not all listings are selling quickly. However, rising sale-to-list price reflects competition for the homes that are selling. Likewise, days on market, though slightly up month over month, are down -73.3% year over year and a whopping -200% from April 2019 (8 days compared to 24). 
  • San Diego is heating up. The number of single family homes pending in San Diego is up 14.6% month over month and 16.1% over April 2019, pre-pandemic (which saw 577 pending). Sale-to-list price ratio is at a multi-year high of 106%, whereas pre-pandemic, it was consistently under 100%. Days on market are holding steady at 6, about as low as that number gets.

Sale Price

List Price

Sale Price Compared to List Price

Days on Market

Number of Properties Listed

Number of Properties Pending Sale

West LA data is for Culver City, Santa Monica, Century City, Sawtelle, and Redondo Beach.

San Gabriel Valley data is for Pasadena and Arcadia.

Irvine data is for the city of Irvine.

Eastside data is for La Verne, Rowland Heights, Diamond Bar, West Covina, Hacienda Heights, Chino, and Ontario.

San Diego data is for postal codes 92130, 92131, 92129, 92128, 92064, 92127, 92009, 92010 92120, 92024, 92117, 92122, 92126, 92121, 92104, 92101.

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