Key takeaways for the month

The Southern California market tends to be volatile and we see that reflected at the start of 2021.

East LA has grown since the start of 2020. The median sale price for the area steadily increased over the last six months of 2020 and continued that growth with a 3.80% increase from December to January. Year over year, January sale prices are up 7.14% and we expect to see that trend continue. Even if February sees a slowdown, the year-over-year increase will likely remain.
Across the region, homes are selling more quickly. Days on market for single family homes decreased month over month and year over year, indicating increased competition.
Select properties in San Gabriel Valley and East LA are competitive. The number of single-family homes listed increased month over month by 57.50% and year over year by 127.71%, but the number pending stayed almost flat with a 4.84% decrease month over month. This indicates that not all homes are getting offers, but the ones that are tend to see multiple offers. East LA sees a similar trend.