As we step into the new year, let’s take a closer look at the real estate market in North Hollywood, California, and what the latest trends mean for both buyers and sellers.

Current Market Snapshot

• Median List Price: $1,049,000

• Active Homes on the Market: 69

• Homes Sold in the Last 30 Days: 22

• Median Sold Price: $939,500

• Average Days on Market: 36

• Average Price per Square Foot: $645

What This Means for Buyers

North Hollywood’s market continues to show signs of strong demand, though buyers may find more negotiating power as homes are sitting on the market for an average of 36 days. With a gap between the median list price ($1,049,000) and the median sold price ($939,500), there is room for buyers to secure homes at a discount, depending on the property and its condition.

However, with an average price per square foot of $645, home values remain solid, reflecting the area’s desirability. Buyers should be prepared with strong offers, especially for well-priced homes in high-demand neighborhoods.

What This Means for Sellers

For sellers, the median sold price of $939,500 indicates that homes are closing slightly below list price. Pricing your home competitively is crucial to attracting serious buyers in a reasonable timeframe. The 36-day average on the market suggests that while homes are selling at a steady pace, it’s important to showcase your home well through professional marketing, staging, and strategic pricing.

With 69 active listings, buyers have options, so sellers should ensure their property stands out. Homes that are move-in ready and priced appropriately are more likely to receive strong offers quickly.

Looking Ahead

The North Hollywood market remains competitive but balanced, with opportunities for both buyers and sellers. Whether you’re looking to purchase your first home or sell for top dollar, having an experienced real estate professional on your side can make all the difference.

If you’re considering buying or selling in North Hollywood, let’s connect! I’d be happy to discuss your goals and help you navigate the market successfully.

Thinking of making a move? Contact me today!