Lomita Real Estate Market Report March 2022

Hello folks. 

It’s March already almost the end of the first quarter of 2022.

Well, we’re looking at the exciting Lomita real estate market but stick around to the end to find out what new programs we have to help you buy or sell a home even if something has stopped you in the past.

Now home values are up in Lomita with median home values at $868,000. That’s up 2.48% over the last month. It’s up 4.35% over the quarter and up 9.01% over the last 12 months. It’s up 22.8% over the last two years and up a substantial 27.91% over the last 36 months. In comparison, the median home value in Los Angeles is only $790,000. In California, it’s $716,000 and for the entire country, it’s only $313,000. If you wanna find out what your home’s worth right now go to housesinsouthbay.com, and get an accurate valuation.

Hello everyone, Steve Huhta here from Century 21 Union and housesinsouthbay.com. Now… Hey, there’s my friend, Joe. Joe’s also a Kiwanian. I think he’s on his way down to Still Got It Fitness. Hi Joe. Now, bringing you the Lomita real estate market report for 2022. Remember to like, subscribe, and especially share if you find this of value.

Now, looking back in February we had 15 homes for sale in Lomita. Out of those 15 active listings, six sold ranging from this two bedroom, two bath 1024 square foot condo that sold for $475,000 to this 1,767 square foot three bedroom, two bath home, on a 5,392 square foot lot that sold for $986,700.

To get an idea where things are headed we can look at the health of the market with a comparison of supply versus demand. We measure that with inventory months of supply which is only at 1.3 months supply right now. That means that if no other homes came on the market we would sell out of homes in about five weeks. Now you probably already know but we consider anything less than six months supply a seller’s market. However, even though we call this a seller’s market it’s the buyers who dictate the prices. As we can see, out of those six homes that sold three of them had a price reduction. While two went over asking price. Now this really shows that buyers really dictate the home prices when they finally do sell.

At the beginning of this video I said I would go over some of the new programs we have to help you overcome what might be stopping you from buying or selling a home.

For sellers, if you need to sell your old home in order to buy a new home but keep losing out because your offer has a contingency clause to sell your old home first we have programs that allow you to make offers on your new home without being contingent on selling. We also have programs available to allow you to make cash offers through some of our partners.

For you buyers we have new down payment assistance programs to help get you out of the ever increasing rent cycle, and make you an owner. Now gimme a call about any of these programs so we can help get you started. Now remember, you’re already making a house payment every month. Wouldn’t you rather be making your own payment instead of paying off your landlord’s home?

Check out some of my other videos or let me know what subject you’d like me to talk about and I’ll get some content out to you. Maybe you wanna know what repairs give the biggest return on investment or maybe even how to sell your home without a Realtor. Let me know in the comments down below.

Bye for now.