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

Jun 16

Southwest La Mirada neighborhood Six And Twelve-Month Comparison

Price Summary

In the Southwest La Mirada Neighborhood, average monthly prices have declined by $94,000 over the last 6 months. When we examine the last 12-month average, prices have increased by $3,000. However, this increase should be reduced over the next few months. When we compare the Southwest La Mirada Neighborhood to the other neighborhoods for which we have stats. 4 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. 3 had an increase in their average price over the last 6 months. This resulted in a citywide average loss of $38,000 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.

Neighborhood 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.

Price Statistics

Over The last six-months the average monthly price for this neighborhood was $832,000, compared to $924,000 in the preceding six months. This results in an average monthly price decrease of $92,000 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 $700,000, and the highest was $927,000. This yields a $227000 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 monthly price for this neighborhood was $878,000, compared to $875,000 for the previous 12 months. This yields an average monthly price increase of $3,000 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 $700,000, and the highest was $927,000. This yields a price spread of $227,000 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.

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Sales Statistics

Over the past 6 months, we have observed a 0.4 decrease in average monthly sales and a 3.5 decrease in average monthly listings. This is based on the last 6 months, a monthly average of 4.2 sales and 6.8 listings, compared to the previous 6 months, a monthly average of 4.8 sales and 10.3 listings.

In the last 6 months, homes in La Mirada have sold quickly, with an average of 30 days from listing to escrow. For the last 6 months, sales in this neighborhood have averaged 29 days on the market before entering escrow.

Over the last 12 months, we have observed a 0.7 decrease in average monthly sales and a 0.2 decrease in average monthly listings. This is based on the last 12 months, a monthly average of 3.9 sales and 8.6 listings, compared to the previous 12 months, a monthly average of 4.6 sales and 8.4 listings.

In the last 12 months, homes in La Mirada have sold quickly, with a monthly average of 25 days before entering escrow. For the last 12 months, sales in this neighborhood have averaged 25 days on the market before entering escrow.

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