NOVEMBER NEWSLETTER
Dear Friends, Family, and Colleagues,
California home sales rose in October from both the prior month and a year ago to reach the highest level since February. Closed-escrow sales of existing single-family homes in California totaled 282,590 in October, according to data collected by the California Association of Realtors (C.A.R.). Meanwhile, the U.S. stock market in November has been mixed but has recently seen a bounce: After a downturn earlier in the month, markets rebounded ahead of Thanksgiving closing near all time highs again. That rally followed a period of volatility earlier in the month as concerns over AI-stock valuations and interest-rate policy weighed on tech and growth names.
đ California Sales Rebound Slightly
Existing, single-family home sales totaled 282,590 in October, up 1.9% from 277,410 in September and up 4.1% from 271,370 in October 2024.
Octoberâs statewide median home price was $886,960, up 0.4% from $883,640 in September and down 0.2% from $888,740 in October 2024.
đ Los Angeles County Trends
Los Angeles County Sales were up about 5.5% year over year and up almost 14.2% month over month.
The median home price in Los Angeles County was $960,620 up 0.5% year-over-year and down 2.3% month over month.
đ Outlook
With mortgage rates continuing to trend downward, momentum is steadily building across the market. Buyer activity has clearly strengthened, with more showings, higher engagement, and multiple offers returning on well-positioned homes. Inventory remains historically limited â especially in the entry-level segment â which is helping keep prices stable and competition healthy.
The recent rise in home sales is a welcome indicator that confidence is returning. And with a potential December rate cut on everyoneâs radar, many buyers are stepping back in with renewed optimism. As we head into the end of the year, the market is showing signs of a more balanced and encouraging outlook.
Sincerely,
Dennis Adelpour and The Adelpour Group
Last week saw another meaningful shift in borrowing costs. The average 30-year fixed mortgage rate in the U.S. dipped to approximately 6.23%, down from around 6.26% the prior week â the lowest level in many months. While purchase-application volume data remains limited, this kind of rate easing tends historically to trigger renewed buyer interest â which is especially relevant in luxury markets where financing costs can influence timing. At the same time, U.S. equities rallied: the S&P 500 recently closed near 6,812.6, and the Nasdaq Composite climbed alongside strength in technology and AI-related stocks. This equity strength, combined with favorable rate moves, supports a âwealth effectâ that tends to benefit luxury real-estate demand â especially for buyers whose net worth is heavily tied to equities.
So the current mix â slightly lower borrowing costs + elevated stock valuations + renewed investor optimism â offers a favorable backdrop for luxury real-estate demand in high-end markets such as L.A. For well-capitalized buyers, real estate may increasingly look like both a lifestyle upgrade and a diversification play â perhaps encouraging some who were previously hesitant to take action.
The Los Angeles high-end market is experiencing a bit of softness, with buyers becoming more selective and price-sensitive. While demand remains strong for well-positioned luxury homes, overpricing or poor presentation can lead to extended days on the market and price reductions.
If youâre considering selling, marketing and negotiations are everything. Right now, serious buyers are still actively looking, but theyâre prioritizing properties that are competitively priced and move-in ready. Sellers who act strategicallyâpricing correctly from the start, staging effectively, and leveraging top-tier marketingâcan still achieve strong results despite what's happening in the market.
Thinking about selling? Letâs discuss the best timing and strategy for your home. Call me today for a confidential consultation.
This market is offering a unique opportunity for buyers who are ready to act. With less competition and fewer bidding wars, buyers can often secure properties at more favorable prices than in previous months. However, with the shift in the market, itâs important to approach this process strategically. Be Prepared to Move Quickly! While the market may not be as competitive, desirable properties still move fast.
Don't wait for an overpriced home to undergo a price reduction before making a lower offerâit may be too late. Weâre seeing properties sit on the market for weeks with no offers, only to receive multiple bids after a small price reduction. You wonât get a good deal if you donât ask, and it costs nothing to submit an offerâso donât be afraid to go for it! Even if prices soften slightly, luxury properties in prime locations tend to appreciate over time. Focus on homes that offer both lifestyle and investment value. If youâre ready to explore the opportunities in todayâs market, call me today. Let me help you find your dream home and secure the best possible deal! Even if prices soften slightly, luxury properties in prime locations tend to appreciate over time. Look for homes that offer both lifestyle and investment value. If youâre ready to explore the opportunities available in todayâs market, call me today. Let me help you find your dream home and secure the best possible deal!
Check out the recent Redfin article we were featured in:
Build-To-Rent Homes: What You Need to Know About the Future of Single-Family Rentals
Build-to-rent (BTR) homes are ideal for people who want the benefits of community living without the hassle of maintenance, mortgage payments, or HOA dues. In recent years, the movement to create more of these types of homes has been increasing due to higher demand. Because of its rapid growth, many real estate companies and investors are developing BTR properties to capitalize on the craze.
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