Comparison of Sales Price and Days on Market in Leisure World Seal Beach (2019-2024)
Using the attached graphs, we can analyze the trends in Median Sales Price and Median Days on Market in Leisure World Seal Beach over the past few years to identify patterns, key shifts, and correlations.
Median Sales Price (2019–2024)
1. Upward Trend:
• The median sales price steadily increased from 2019 through 2024.
• In early 2019, the median sales price was approximately $200,000.
• By early 2024, it had risen to nearly $350,000, reflecting strong demand and appreciating property values.
2. Key Milestones:
• 2021: Significant growth occurred, likely driven by heightened post-pandemic housing demand.
• 2023–2024: The price stabilized slightly, suggesting the market was reaching equilibrium after years of rapid growth.
3. Market Drivers:
• Increased demand from retirees relocating to the area.
• Enhanced appeal of Leisure World’s amenities during periods of national housing market fluctuations.
• Limited inventory, driving prices higher.
Median Days on Market (2019–2024)
1. Decreasing Trend:
• The median days on market (DOM) declined from 2019 to 2021, indicating a seller’s market with homes selling more quickly.
• In early 2019, homes took approximately 60–80 days to sell.
• By 2021, this number dropped to around 20 days.
2. Post-2021 Plateau and Increase:
• From 2022–2023, median DOM rose slightly to around 40 days, indicating a cooling market as prices stabilized.
• By 2024, the median DOM had climbed back to 60 days, reflecting shifting buyer behavior or increased inventory.
3. Market Factors:
• The 2020–2021 surge in homebuying activity reduced DOM to historic lows.
• As affordability became a concern with rising prices, homes began taking longer to sell.
Key Comparisons
1. Sales Price vs. Days on Market:
• From 2019 to 2021, the decline in DOM correlates with the sharp rise in sales prices, showcasing a strong seller’s market.
• Post-2021, as sales prices stabilized, the DOM began to increase, indicating that buyers were becoming more selective or constrained by affordability.
2. Market Behavior:
• The data reflects a market transitioning from a rapid-growth phase to a more balanced state, where price gains moderate and selling times increase.
Conclusion
• 2019–2021: Rapid price appreciation and shorter DOM signaled a hot market with strong buyer demand.
• 2022–2024: Price growth slowed, and DOM rose, indicating market stabilization.
• Seller Strategy:
• Highlight competitive pricing and home features to attract buyers in a market with longer selling times.
• Partner with local real estate experts, such as Mark Hughes, to maximize appeal to buyers navigating rising prices and changing market conditions.
If you need further analysis or would like specific recommendations based on this data, let me know!
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