City of La Mirada Twelve-Month Real Estate Market Trends

Price summary

Average price over the last 12 months: $960,000

Compared to the previous 12 months’ average price: Gain of $15,000

Highest average price for a month: $1,039,000

Lowest average price for a month: $$868,000

Difference between the highest and lowest month: $171,000

Highest price home sold in the last 12 months: $1,595,000

Lowest price home sold in the last 12 months: $595,000

The average price of $960,000 represents a $15,000 gain over the last 12 months for the city of La Mirada.   You can see how this gain compares with the La Mirada neighborhoods in the price table below.   As you can see from the price graph below, prices in La Mirada have remained relatively stable over the past 12 months.

The price difference in the city will be due to factors such as property condition, added square footage, an added pool, and location.

Over the past 12 months, sales averaged 21 per month, and listings averaged 45 per month. This means that 47% 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 La Mirada average only 27 days on the market before going into escrow. This is considered a short time period,

City Price Forecast

The demand for the city has always been strong.  La Mirada is a well-run city with diverse activities for all ages, offering a wide range of options.  Examples would be the Theater. Golf course, Senior Center, Regional Park, local parks, Sports facilities for Soccer, Baseball, Softball, Basketball, and of course, swimming.  Because the city is well-governed and offers substantial benefits to its residents, there is strong demand for it.  This, combined with the low number of listings, increases the city's demand and helps keep prices up,

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

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