“For Sale” signs are no longer here today and gone tomorrow.
Houses are definitely sitting on the market longer before buyers are found, said Natalie Neith, an agent with Prudential California Realty, John Aaroe Division, Hancock Park office.
Throughout the region, the number of days continues to grow between the time most homes are listed and contracts are signed, the California Assn. of Realtors reported recently.
In L.A. County, the median time on the market stretched from 26 days in October 2005 to 50 days this October, according to the trade group. During that same period in Orange County, the number of days on the market more than doubled from 32 to 65, while in Ventura County, the wait went from 34 to 63 days; Riverside County, from 37 to 66 days; and in San Bernardino County, from 26 to 63 days.
The average number of days on the market for condos rose from 36 to 48 from October 2005 to October 2006, said Jim Perabo, co-owner of Condosource, a boutique real estate brokerage firm that specializes in Los Angeles condos and lofts.