Instead of a wall of text where you have to read it all, I thought graphs would be a better visual. Real estate can be such an emotional transaction, so having the data to refer back to is so important.

A quick note on this before you read any further. Real Estate stats tend to be about a month behind. So we will not have the data for December until January. Come back here next month for a full recap.

So let’s begin with the most popular topic, sales prices. I just wrote a post for Santa Clarita, and when I looked at their median sales price data, I had the same feeling that I have looking at the data for Palmdale and Lancaster. Prices are pretty stable. I know buyers are holding out for a crash (which would not be good for anyone except cash buyers), but it does not look like the youtubers, influencers, or your uncle were right.

As usual you can see that Palmdale home prices are higher than Lancaster, but other than that this chart is pretty boring, which is actually a good thing.

Now let’s talk about Days on Market. How long did it actually take to sell a home this year?

Palmdale and Lancaster seem to be pretty close, with November having a pretty big slowdown for Lancaster.

The last chart compares the total active listings to the closed sales each month. As you can see, there were not as many homes that sold each month compared to what was available.

Sellers: buyers have options. Listing high just to see what you can get is something many sellers want to do, and their home often ends up sitting on the market with no offers. These listings usually expire and the seller ends up discouraged. You need a pricing strategy that is based on data. Your home needs to be presented well, your agent needs to have a marketing plan, and your home must be available for showings. If a buyer cannot view your property easily they are usually on to the next and do not care to reschedule.

Buyers: you have a lot of options and negotiating power right now. Sellers are willing to help with closing costs or buy down your interest rate to make homeownership more affordable. Many of the closings I review in the MLS show that the seller paid for some or all of the buyer’s fees.

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