What we saw in 2018: Nationally, the end of 2018 was dominated by talk of a potential real estate bubble. On the Corridor, we started to see signs that prices were peaking, and inventory started to increase. However, even with the increase in listings, we still finished with an inventory shortage and all-time high prices. The median sold price has now increased 108% over the past 7 years!
What we expect for 2019: With the slight shift in the market, sellers will need to be realistic, as we expect buyers to be cautious. If priced correctly and marketed appropriately by Corridor experts, we expect condos to sell quickly and for top dollar. If priced above market value, sellers will need to substantiate the price with some finely tuned renovations and presentation, or risk not selling.
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 and maximize your value.
–Tregg Rustad & Peter Maurice,
Founders of CondosOnWilshire.com
Stats based on info from CLAW/MLS as of 01/03/19. Broker/Agent providing sold info may or may not have been the listing and/or selling agent. Data is deemed reliable but is not guaranteed.