Weekly Market Update - 5.25.20

Market Updates
Written By Monica Rivera

Nobody knows the future and yet, there are certain indicators that can give us insight into the impact the current conditions and what strategies you should adopt now to prepare your business. Here are some insights to help you understand where the market is currently.

Showings have been on a steady rebound since March 28th and are close to returning to normal showing rates. Based on the current trend, we can anticipate that showings will likely soon reach pre-Covid rates.

Under contract prices jumped up significantly this week with the average price point hovering at $620k, up $20K from the average price point last week. New inventory has also picked up with 1,051 new listings last week in Los Angeles county which is a great sign of a continued increase in inventory. 

Monica Rivera

Monica is a 2nd generation Realtor®, Keller Williams Team Leader and #1 Best-Selling Author with over a decade of real estate experience spanning across investments, flips, residential and commercial real estate. Most notably, Monica co-owned a Property Management & development company specializing in Collegiate towns which she helped grow from a humble portfolio of 90 units to 700+ with a monthly cash-flow of half a million dollars for their clients in just under 2 years (at only 23 years old). She has shared the stage with Kevin Harrington of ABC’s Shark Tank and has been featured on multiple media outlets including NPR, KTLA Channel 5, Real Estate Game Changers Radio, Realtor.com, and Clarity FM, just to name a few. Monica is currently focused on her passion of coaching and consulting Real Estate Agents as the Team Leader & CEO for Keller Williams South East Los Angeles in Downey, Ca. She is one of the youngest brokerage leaders in her industry, giving her a competitive advantage as a digital native with years of experience in business development and real estate, allowing her to position her agents for success in a constantly evolving and competitive real estate landscape.

http://MonicaRivera.com
Previous

On-Demand: Take Listings with Forbearances
Next

Generate $12K a month, with just 500 PEOPLE | Top Producer Philip Alderfer