A headline caught my eye this week. It read:
“The Housing Market Isn’t Making Sense. What’s Going On.”
It got me thinking about how much information is circulating out there. Numbers are flying around about inventory increases and price reductions (promising news for buyers)—and at the same time, there are also stats about record-high home prices (every seller’s dream).
When I first sat down to write this, I planned to dispel some misinformation and explain what all those numbers really mean. Then it hit me—the headlines and reports you are seeing all reference housing market stats nationwide. And when buying or selling real estate, the most important data is hyperlocal.
So, let’s take a look at what happened in the July 2024 housing market in Bellflower California.
Bellflower California Housing Market Report for July 2024
Single Family Homes: Data at a Glance
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Median Sale Price: $770,000 (+0.7% change year over year)
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Average Days on Market: 12 (-47.8% change YoY)
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Months of Inventory: 27 (+/-% change YoY)
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Active Listings: XX (+12.5% change YoY)
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Sold Listings: 13 (-23.5% change YoY)
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List-to-Sale Price Ratio: 99.4% (-4.1% change YoY)
Condominiums: Data at a Glance
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Median Sale Price: $598,944 (+11.4% change year over year)
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Average Days on Market: 25 (-45.7% change YoY)
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Months of Inventory: 16 (+128.6% change YoY)
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Active Listings: 8 (+33.3% change YoY)
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Sold Listings: 8 (+100.0% change YoY)
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List-to-Sale Price Ratio: 100.1% (-1.0% change YoY)
Source: Pacific West Association of Realtors.
The housing market may seem confusing right now, but with the right information and a focus on local data, you can navigate it confidently. For an even more personalized data report for your home or neighborhood, reach out to me here at 562-843-4474 or www.sellin30daysorless.com