La Mirada Hillsboro Knolls Neighborhood Twelve-Month Real Estate Market Trends
La Mirada Hillsboro Knolls 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: $1,120,000
Compared to the previous 12 months’ average price: Gain of $3,000
Highest average price for a month: $1,120,000
Lowest average price for a month: $1,120,000
Difference between the highest and lowest month: $0
Highest price home sold in the last 12 months: $1,120,000
Lowest price home sold in the last 12 months: $1,120,000
The $3,000 gain was $12,000 below 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. The Hillsboro Knolls Neighborhood has remained relatively stable over the past 12 months because there has been only one sale.
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 1 per month for only one month, and listings averaged 0 per month. The listing doesn’t appear on the graph, so a Realtor must have sold a listing they didn’t put on the MLS. Since there was a sale, 100% of the available monthly listings sold. This is a very high percentage, which helps keep prices high due to the lack of available inventory each month. A major factor in the limited supply of listings in the Hillsboro area is that many people who are moving from the Hillsboro neighborhood lease their Hillsboro home and have the money to buy the home they are moving into. Or pull money from their Hillsboro home for a down payment and use the lease payments from their Hillsboro home to make their new home payment. Also, due to limited inventory, homes in the Hillsboro Knolls Neighborhood average only 13 days on the market before going into escrow. This is considered a very short time and was better than the city average of 27 days.
Neighborhood Price Forecast
Overall, the Hillsboro Knolls Area is doing very well. Prices should start going up when the neighborhood has some sales. Demand is expected to remain high given the neighborhood's appeal. This tract is similar to a tract of homes in Orange County, but at better prices than you can get in Orange County.
Prices in this neighborhood will remain strong over the next few months, and because it is a small community, prices should continue to rise. With strong demand in the city and surrounding area and a shortage of listings, barring any economic problems, the Hillsboro Knolls Area will perform well this year.
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