Home sellers have reasons to rejoice in California these days. As the number of home sales continues to rise, home prices are also increasing. It appears that a sellers market is now developing in California, at least in part because of an increase in sales of distressed properties, according to the Daily News, based on reports from real estate market trackers and data from the California Association of Realtors.
Median sales prices increased by 24.6 percent in Los Angeles, for example, while sales were up 22.6 percent in the Inland Empire, according to the CAR. With fewer foreclosures occurring and an increase in the number of higher priced homes hitting the market, the median sales prices are rising in California.
This improvement in the market bodes well for people who are interested in selling their homes now or in the near future. If you are preparing to sell your home now or in the near future and want to take advantage of the uptick of prices in California, it’s prudent for you to contact the professionals at Brighton Escrow. They have the expertise to help you with any questions or concerns you may have regarding your property.