Our active inventory has increased 48.3% and our absorption rate is running about 2.6 months. We continue to see prices increasing with our median up 9.3% and our average price per square foot up 10.5%. For those of you outside of Los Angeles, LA County has a median of $472,000 and Pasadena has a median of $806,000.
Multiple offers continue, and we are grateful to have more inventory for our buyers. We are encouraging our dormant sellers to consider taking advantage of the pricing and strong sellers market, and our buyers to get out and start shopping!
Who do YOU know that is thinking about buying or selling real estate?