La Mirada Real Estate Market Trends For The Southwest La Mirada Neighborhood

Southwest La Mirada neighborhood

Six And Twelve-Month Comparison

Prices

Over The last six-months the average price for this neighborhood was $876,000, compared to $909,000 in the preceding six months. This results in an average monthly price decrease of $33,000 in the Southwest La Mirada neighborhood over the last six months. As you can see from the graph below, prices in the Southwest La Mirada neighborhood have remained relatively stable over the last six months. The lowest monthly average for the last six months was $815,000, and the highest was $968,000. This yields a $1553000 price spread for the neighborhood over the last 6 months.  The price difference will be due to factors such as property condition, added square footage, an added pool, and location.

Over The Last 12-months the average price for this neighborhood was $892,000, compared to $870,000 for the previous 12 months. This yields an average monthly price increase of $29,000 in the Southwest La Mirada neighborhood over the last 12 months. As you can see from the graph below, prices in the Southwest La Mirada neighborhood have remained relatively stable over the last 12 months. The lowest monthly average for the last 12 months was $815,000, and the highest was $974,000. This yields a price spread of $159,000 for the neighborhood over the last 6 months.  The price difference will be due to factors such as property condition, added square footage, an added pool, and location.

Price Summary

In the Southwest La Mirada Neighborhood, prices have declined by $33,000 over the last 6 months. When we examine the last 12-month average, prices have increased by $22,000. However, this increase should be reduced over the next few months. When we compare the Southwest La Mirada Neighborhood to the other 11 neighborhoods for which we have stats.  3 of them had no sales in the last 6 months.  6 had a decrease (like this neighborhood) in their average price over the last 6 months.  5 had an increase in their average price over the last 6 months. This resulted in a citywide average loss of $26,000 over the last 6 months.  Like most cities in the surrounding area, La Mirada prices are going down.

See the tables at the end of this report to see each neighborhood’s increase or decrease

Sales

Over the past 6 months, we have observed a 0.1 increase in monthly sales and a decrease of 3.0 in monthly listings.  This is based on the last 6-month average of 4.7 sales and 6.8 listings, compared tothe previous 6 months, which averaged 4.6 sales and 9.8 listings. 

In the last 6 months, homes in La Mirada have sold quickly, with an average of 25 days before entering escrow. For the last 6 months, sales in this neighborhood have averaged 26 days on the market before entering escrow.  

Over the last 12 months, we have observed a 0.5 decrease in monthly sales and a 0.1 increase in monthly listings.  This is based on the current 12-month average of 4.1 sales and 8.4 listings, compared to the previous 12 months, which averaged 4.6 sales and 8.3 listings. 

In the last 12 months, homes in La Mirada have sold quickly, with an average of 22 days before entering escrow. For the last 12 months, sales in this neighborhood have averaged 23 days on the market before entering escrow.  

Forecast

Overall, Southwest La Mirada is doing well. Demand for this neighborhood has always been good. With two parks at the ends, Neff and Windermere, for family time.  Escalona Elementary School is in the middle. There is also Biola University near the north-west section, and the shopping center near the south-east section.

Prices in the area will continue to decline over the next few months, but should stabilize or rebound by summer or toward the end of the year.   With strong demand in the city and area and a shortage of listings, barring any economic problems, the Southwest La Mirada neighborhood will do well this year.  

Thinking of Selling?

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I will make you 2 promises: 1. No sales talk, just a low-key informative conversation. 2. You won’t regret your decision. 

Why not use the Best?

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Call, text, or email me.

Cell 714 342-7270

Email tysutherland@firstteam.com

A map of current active listings and sales in the Southwest La Mirada neighborhood for the last 12 months was used in this analysis

The tables below lists the prices used in the Southwest La Mirada analysis over the last twelve months

Southwest La Mirada Twenty-Four-Month: Price Graph

Southwest La Mirada neighborhood Twenty-Four-Month Demand Graph: Sales vs Listings

Southwest La Mirada compared to the city of La Mirada and the Individual La Mirada neighborhoods

All data is from the CRMLS