Q4 | 2017 Market Update for Greater Los Angeles

Q4 | 2017 Market Update for Greater Los Angeles

Q4 | 2017 Market Update for Greater Los Angeles

Over 1,092 single family homes were sold in Greater Los Angeles in 2017.

The overall median sales price reached a high of $2,552,000, a 6% increase compared to the prior year.

The average days on market for single-family homes dropped to 84 days in the fourth quarter of 2017, compared to 92 days at the end of 2016.

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Mortgage Market Summary as of January 15, 2018

Mortgage Market Summary as of January 15, 2018

Mortgage Rates Reaction After Inflation Report

Underlying bond markets (which drive mortgage rate changes) were rocked Friday by stronger inflation data.  The important Consumer Price Index (CPI) was expected to hold steady at the same low levels that have persisted since the middle of 2017.  The modest uptick in inflation sent bond yields higher and resulted in most mortgage lenders putting out noticeably higher rates this morning.

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Mortgage Market Summary as of January 8, 2018

Mortgage Market Summary as of January 8, 2018

Mortgage Rates Better at First, Following Weaker Jobs Numbers

Mortgage rates moved lower following a weaker-than-expected jobs report.  The so-called "jobs report" (officially "The Employment Situation") is--on average and over time--the most important piece of economic data on any given month.  While it has recently taken a back seat to the likes of the Consumer Price Index (CPI... an inflation report), it always has the power to move bond markets.  Bonds, in turn, move mortgage rates.

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10 Facts About Sotheby's International Realty You Might Not Know

10 Facts About Sotheby's International Realty You Might Not Know

Jeffrey Shore & Sotheby's International Realty...AT YOUR SERVICE.

Connecting buyers and sellers of luxury property requires skillful marketing, and that is exactly what I provide...worldwide.

One-of-a-kind resources, reputation, and access to discerning clients that our global brand provides are powerful advantages that set our company apart and translate into custom marketing strategies to achieve your goals. Through this sophisticated marketing, unparalleled access, and esteemed collection of affiliates, I am able to unite luxury homes with the right buyer at the right price.

When a listing is marketed through the Sotheby’s International Realty network it immediately begins a journey to worldwide exposure.

Here are 10 facts about Sotheby's International Realty you might not know...

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