u/twinmilll

Lurker / Prospective buyer

What is the SFV Condo market looking like from a real estate agents perspective? (Woodland Hills, Encino, Tarzana, Sherman Oaks specifically)

I'll admit I fall into the category of a buyer that was waiting for a correction. I feel like that correction has started in the above markets. However, the West LA market doesn't feel like its had much movement.

Is the real estate agent community feeling like sellers outweigh buyers or vice versus and are you seeing shifts in buyer / seller behavior in these areas?

I ask some of these questions because in SFV, Im starting to see double digit price reductions on reddfin (2BR, 2BA) and I want to understand if those are thought to be driven by the market trending downward or simply internal situiations of those specific sellers needing quick sales.

I understand rates & hoa fees are a negative impact on the buyer side. I understand neither of these have an outlook to change soon. How are your sellers approaching the end of summer downturn?

Prior year, the alot of sellers & buyers thought to wait until 26' for a rate drops (Obviously that didnt happen)