La Mirada Real Estate Market Forecast Landmark Neighborhood

Landmark Area Six And Twelve-Month Comparison

Prices

The six-month average price for this neighborhood was $2,150,000, compared with $1,405,000 for the six months before that. This gives Landmark an average monthly price increase of $745,000 over the last six months. As you can see from the price graph, prices in Landmark have remained relatively stable over the previous six months. The lowest monthly average for the last six months was $1,300,000, and the highest was $3,000,000. The house that sold for $3 million has thrown the averages and the spread way off. This gives us a price spread of $1,700,000 for the neighborhood in the previous 6 months.  The price difference will be due to factors such as property condition, added square footage, an added pool, and location.

The 12-month average price for this neighborhood was $1,778,000, compared with $1,216,000 for the previous 12 months. This gives Landmark an average monthly price increase of $562,000 over the last 12 months. As you can see from the price graph, prices in Landmark have remained relatively stable over the previous 12 months. The lowest monthly average for the last 12 months was $1,300,000, and the highest was $3,000,000. There was a house that sold for $3 million that has thrown the averages and the spread way off. This gives us a price spread of $1,700,000 for the neighborhood in the previous 12 months.  The price difference will be due to factors such as property condition, added square footage, an added pool, and location.

Sales

Over the last 6 months, we have seen a 0.1 decrease in sales per month and a 0 decrease in listings per month.  This is based on the current 6-month average of 0.2 sales and 0.2 listings per month, compared with the previous 6 months, which averaged 0.3 sales and 0.2 listings per month. 

Homes are still selling quickly in La Mirada, with an average of 27 days to sell. For the last six months, sales in this neighborhood have averaged 34 days on the market before entering escrow.  

Over the last 12 months, we have had an increase of 0 sales per month and a decrease of 0 listings per month.  This is based on the current 12-month average of 0.3 sales and 0.3 listings per month, compared with the previous 12 months, which averaged 0.3 sales and 0.3 listings per month. 

Homes are still selling quickly in La Mirada, with an average of 23 days to sell. For the last twelve months, sales in this neighborhood have averaged 26 days on the market before entering escrow.  

Forecast

Overall, demand in the Biola Area is very strong.  And will stay strong because Biola University faculty and students want to live in the area, allowing them to walk or ride a bike to the University.  Families like Garden Hill School, a Blue Ribbon school, and the ability to have some family time at Garden Hill Park.

Prices in the area will continue to correct over the next few months, but should stabilize or possibly rebound by summer or towards the end of the year.   With strong demand for the city and the area and with a shortage of listings, barring any economic problems, the Biola Area will do well this year.    

If you would like a detailed analysis of your home’s current market value

You can call, text, or email me.

Cell 714 342-7270

Email tysutherland@firstteam.com

I will send you a detailed Market Analysis of your home.  This analysis will take into account the condition of your home, its square footage, any improvements, and any special features.

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A map of current active listings and sales for Landmark over the last 12 months that was used for analysis.

The tables below list the prices used in the Landmark analysis over the past 12 months.

Landmark Twenty-Four-Month Price Graph

Demand Graph Sales vs Listings

Landmark compared to the city of La Mirada and the individual La Mirada neighborhoods 

Here is a way for you to track how the city and your neighborhood have progressed over the last six and twelve months, and how individual neighborhoods are progressing compared to yours.