March 2021 Market Update: Southern California

white petaled flowers in front of building

Key takeaways for the month

The Southern California real estate market is seeing an unprecedented level of activity, with the lowest median days on market and highest sale-to-list price ratios in years. 

  • Homes are selling at higher prices. Median sale prices for single family homes are up year-over-year across the region, by as much as 20% in San Gabriel Valley and 15% on the Eastside. List prices are also rising. 
  • Homes are selling very quickly. Median days on market for single family homes are trending down year-over-year, falling 38% in San Diego and a whopping 50% in Irvine. West LA homes are selling slightly slower than they were a year ago at 9 days compared to 8 in March 2020, but they are trending down and we expect that to continue. 
  • Many more homes are selling. The numbers of properties listed and sold in March saw huge year-over-year increases. West LA and the Eastside each saw increases of more than 200% for single family homes. 
  • Homes are selling over list price. Sale-to-list price ratio is up for single family homes across the region, with every market trending above 100%. Buyers should expect homes to sell above list.

Competition snapshot

Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.

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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