How did we get this price increase?

How can you get the most money for your house in this price range when selling?

First, let’s look at how we got to this price increase.

When you look at the first graph at the bottom of this post, you can see that the prices in the $ 900,000-plus market were a year overdue for an increase. This delay was due to the rise in interest rates. But so far, the rise in prices in 2025 have seen a 7% increase to $1,127,000 in the $900,000-plus market. This is not the only good news. When we look at the second graph and compare sales for the last 12 months to the previous 12 months, we are 28 sales ahead of the last 12 months in the $900,000-plus market. Let’s take a quick look at the two graphs.

Let’s start with the price increase and then get to sales. As you will see from the first graph in the article below, beginning in 2018, we had 2 years of level prices, averaging $942,000. Then, two years later, in 2020, we went up in price and cracked the million dollar average, rising to $1,017,000 or +7%, and stayed there for another two years. Then, in 2022, we had another price jump, averaging $1,063,000 or +5%. But this time, we stayed level for three years. This, of course, was due to the rise in interest rates. But even with high interest rates in 2025, sales prices have averaged $1,127,000, or 6% higher than the average for the last three years. This rise in price, even with high interest rates, is one indicator that the higher price range in La Mirada still has a strong demand.

Now, let’s take a look at sales. The second graph shows 119 sales in the last 12 months, an increase of 28 from the previous 12 months' 91 sales. An increase in listings to 18 in November 2023 from 7 in October 2023 led to this rise in sales. This is an excellent example of a market trying a higher price and succeeding. More sellers tried a higher price, and because of the continued high demand for La Mirada, they got a higher price than the last 3 years. Here is our second indicator of the strength of the $900,000-plus market in La Mirada.

No matter what price range your home will get in today’s market, if you are considering moving while this market is so strong, read the second article in this newsletter: $9 million vs. $50,000. Then, call or email me and ask for our 32-page brochure, and I will mail or email you one of our brochures and do an extensive CMA (Comparative Market Analysis) for you. Let me show you what I can do for you with FirstTeam’s local, national, and international luxury marketing system. Below the two graphs are a few pages from our 32-page seller brochure.

I will review the 0-$900,000 market in my following two-week newsletter.