Sales in the Pico-Lowell market fell to one home sold over the past 30 days. In addition, the number of sellers reducing their listing price is still in the midst of a downward trend with two price reductions in the same time frame. All indications show that the trend may be coming to an end, meaning more price reductions over the next few weeks. The median sales price dropped to $300,000 over the latest reporting period for Pico-Lowell, down from $394,000. Pico-Lowell is a strong buyer's market, thanks to a big nine months of inventory to choose from and a pullback in sales.
You never know when the perfect home may come in the market so take a look at the new listings in Pico-Lowell: