The El Segundo real estate market is a hot one. For both buyers and sellers, this is an exciting time to enter the market. With a variety of real estate options and excellent home values that are trending upwards, there’s much to get excited about in the city of El Segundo.
Population Growth Means Exciting Times for Real Estate
The city of El Segundo is seeing strong growth as more and more people are discovering the “laid back Los Angeles” near the airport. With growth comes a demand for more houses for sale. Since 1990, the city has grown by about 20%, but with a population of just under 17,000 it’s still a comfortable suburban size. As the population continues to expand, new subdivisions are popping up around the community, and demand for pre-owned homes is also on the rise.
This population growth has also been exciting for El Segundo businesses. Commercial real estate in the city has seen its own growth in recent years, with a large number of businesses calling the area home. This provides recreational opportunities, needed services, and needed employment to the people who are making the move to the city.
Housing Options in El Segundo
The El Segundo real estate market is known for its diversity. Here you can purchase a single-family home, ocean-view condo or spacious estate properties, depending on your needs. There are also a number of apartments in El Segundo available for rent and for purchase. Homebuyers will find something to meet just about any need when shopping in this market.
Housing Price Trends in El Segundo
El Segundo real estate maintains a high-value year after year, with steady increases each year. The average sales price for properties in El Segundo is $1.2 million, with prices between $475,000 and nearly $4 million for residential properties. The average sales price is up nearly 30% in 2018 over 2017. Homes sell quickly in El Segundo too, with an average days on market of just about 15. This fast turn around for properties has been a hot topic on El Segundo news stations, and it means exciting times for home sellers.
Buying and Selling Real Estate in El Segundo
The current El Segundo real estate market is definitely favoring sellers. Those who are looking to buy homes in El Segundo are going to want to act quickly when a home they like hits the market. With homes selling in about two weeks on average, having financing in order and being ready to make an offer is critical for buyers.
Sellers will find that there is high demand for their properties. Having a property in good shape that is uncluttered will ensure a fast sale, but sellers should have no trouble finding interested buyers in the current market. Many El Segundo homes and condos are selling for a profit too, which is another benefit to sellers.
Whether you are buying or selling real estate in El Segundo, the right agent will make a difference in the process. Find out more about your home buying and selling options by scheduling a consultation with a skilled agent, and jump into the hot real estate market that currently is El Segundo.