La Mirada, West of Valley View Neighborhood Real Estate Market Trends
Map and Statistics of Sales Used in This Analysis.
Price summary
Average price over the last 12 months: $794,000
Compared to the previous 12 months’ average price: Loss of $15,000
Highest average price for a month: $868,000
Lowest average price for a month: $750,000
Difference between the highest and lowest month: $118,000
Highest price home sold in the last 12 months: $1,275,000
Lowest price home sold in the last 12 months: $675,000
The $15,000 loss was $30,000 below the city average gain of $15,000 for the last 12 months. You can see how this loss compares with the other neighborhoods in the price table below. As you can see from the price graph below, over the past 12 months, prices in the West of Valley View Neighborhood have been stable.
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 2 per month, and listings averaged 3 per month. This means that 67% 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. Also, due to limited inventory, homes in the West of Valley View Neighborhood average only 38 days on the market before going into escrow. This is considered a short time and was a little worse than the city average of 27 days.
Neighborhood Price Forecast
Overall, West of Valley View is doing well. Demand for this area has always been good. Prices have remained slightly lower than in other neighborhoods because homes in this neighborhood generally have smaller square footage than those in La Mirada built at the same time.
Prices in the area will continue to decline over the next few months, but should stabilize or possibly rebound 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 West of Valley View neighborhood will do well this year.
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