Westside Market Snapshot
Check out our latest Westside Market Overview (Q1 2023), hot off the press! FYI, the average list price across all areas combined is down about 11% from the first quarter 2022, while the average days on market for all areas is 43 days, up from 30 days at the same time last year. In this edition, we’ll discuss two things you should know if you’re thinking of selling this spring, as well as how buyers can balance their wants and needs in the current market.
2022 was a wild year for the Westside! We compared the first two quarters with the second two quarters. In most areas the average sold price and number of sold homes came down, while average days on the market increased. While we did see a correction in 2022, there are still advantages for both buyers and sellers looking to make a move in 2023. For BUYERS, prices are down from last year’s highs and interest rates, while up from last year, are still low, relatively speaking. For SELLERS, there is very low inventory and, after several years of strong appreciation, home prices are still near historical highs. Check out the stats to see for yourself.