La Mirada Real Estate Market Forecast North La Mirada Neighborhood

                     North La Mirada Six And Twelve-Month Comparison

Prices

The six-month average price for this neighborhood was $869,000, compared with $878,000 for the six months before that. This gives the North La Mirada area an average monthly price decrease of $9,000 over the last six months. As you can see from the price graph, prices in the North La Mirada area have remained relatively stable over the previous six months. The lowest monthly average for the last six months was $805,000, and the highest was $939,000. This gives us a price spread of $134,000 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 $873,000, compared with $883,000 for the previous 12 months. This gives the North La Mirada area an average monthly price decrease of $10,000 over the last 12 months. As you can see from the price graph, prices in the North La Mirada area have remained relatively stable over the previous 12 months. The lowest monthly average for the last 12 months was $775,000, and the highest was $1,038,000. This gives us a price spread of $263,000 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 an increase of 0.1 in sales per month and 0.2 in listings per month.  This is based on the current 6-month average of 2.3 sales per month and 6.7 listings per month, compared with the previous 6 months, which averaged 2.2 sales per month and 6.5 listings per month. 

Homes are still selling quickly in La Mirada, with an average of 27 days on the market. For the last six months, sales in this neighborhood have averaged 20 days on the market before entering escrow.  

Over the last 12 months, we have seen a 0.4 decrease in monthly sales and a 4.3 increase in monthly listings.  This is based on the current 12-month average of 2.3 sales per month and 6.6 listings per month, compared with the previous 12 months, which averaged 2.7 sales per month and 2.3 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 19 days on the market before entering escrow.  

Forecast

Overall, North La Mirada is doing well. Demand for this area has always been strong, and prices have remained consistent with those in other areas built in the early days of the City of La Mirada. Next to this neighborhood are Home Depot, Stater Bros, and, of course, Walmart shopping centers.  

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 North La Mirada Area will do well this year.    

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

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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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The table below lists the prices used in the North La Mirada analysis over the past twelve months.

North La Mirada Twenty-Four-Month Price Graph

Demand Graph Sales vs Listings

North La Mirada, 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.