Whittier Market Update, Selling, Buying |
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Matt Ponce What is the market doing in Whittier? |
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Whittier, CAIt is still a very strong seller's market. Listed homes may have price reductions but they are still selling. The average days on market for Whittier is now 49 days.Homes that have failed to sell and are re-listed is currently at just 7%. Our inventory is still very low at just 125 homes on the open market. The median rent is now $3,265 as rental homes are still in very high demand in Whittier CA. What can we expect as interest rate rise in Whittier? The market seems to be responding with price reductions and longer days on the market. The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we're in the Seller's zone at 51. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone 30 or lower, watch for downward pressure on prices. MAI = Market Action IndexThis answers “How’s the Market?” by comparing rate of sales versus inventory. If you are considering making a move in this market, give me a call! I have been successfully helping Whittier residents move for 21 years. Respectfully, Matt Ponce 562-521-8777 Matt & Josh Team CLICK HERE - Get weekly market updates in your emailStatistical Information on this blog post was taken from Altos Research. Copyright © 2022 Altos Research, Inc. Matt Ponce Market Update Matt Ponce & Josh Boyer 562-521-8777 Matt & Josh Team DRE#01367834, DRE#02153773 |