What we saw in 2019: The beginning of 2019 was dominated by talk of a potential recession. On the Corridor, we started to see signs that prices were peaking, and inventory began to increase. However, interest rates dropped to near historical lows – that energized buyers whom came back into the market. We finished the year with an inventory shortage, a median sold price near an all-time high and a median sold price per square foot at an all-time high (an 83% increase from 2011)!
What we expect for 2020: We foresee a very busy spring and summer market in 2020, with the potential for a slight slowdown during the last half of the year. Regardless of economic conditions, if priced correctly and marketed appropriately by Corridor experts, we anticipate corridor property to continue to sell quickly and for top dollar in 2020. Some of our clients wish to price above market value: To do so, we can help substantiate the price by guiding you through some finely tuned renovations and important presentation recommendations. If selling is something you are considering, please give us a call — we have the Wilshire Corridor expertise and experience to help prepare your property for market and maximize your value.