La Mirada, Southeast Neighborhood Twelve-Month Real Estate Market Trends
Map and Statistics of Sales Used in This Analysis
Price summary
Average price over the last 12 months: $942,000
Compared to the previous 12 months’ average price: Gain of $35,000
Highest average price for a month: $996,000
Lowest average price for a month: $800,000
Difference between the highest and lowest month: $196,000
Highest price home sold in the last 12 months: $664,000
Lowest price home sold in the last 12 months: $1,270,000
The $35,000 gain was $20,000 above the city average gain of $15,000 for the last 12 months. You can see how this gain compares with the other neighborhoods in the price table below. As you can see from the price graph below, prices in the Southeast Neighborhood have remained relatively stable over the past 12 months, but have trended down over the last 3 months.
The price difference in the neighborhood will be due to factors such as property condition, added square footage, an added pool, and location.
Over the past 12 months, sales averaged 5 per month in months with sales, and listings averaged 9 per month. This means that 56% of available monthly listings sell. This is a very high percentage, which helps keep prices high due to the lack of available inventory each month. It is worth noting that the number of listings has gone up. If this keeps up, it may put some pressure on prices to come down a little. Also, due to limited inventory, homes in the Southeast Neighborhood averaged 22 days on the market before going into escrow. This is considered a short time and was better than the city average of 27 days.
Neighborhood Price Forecast
Overall, the Southeast La Mirada neighborhood is performing well. Demand for this neighborhood has always been good. It is the center of La Mirada. This neighborhood borders the shopping center, Behringer Athletic Field, the golf course, and Regional Park. It also includes La Pluma Elementary School in the middle of the neighborhood, which is adjacent to La Mirada High School.
Prices in the area may begin to decline over the next few months, but should stabilize or start to rebound toward 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 Southeast La Mirada Area will do well this year.
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