La Mirada Real Estate Market Trends For The Green Hills Neighborhood

Jun 16

Green Hills neighborhood Six And Twelve-Month Comparison

Price Summary

In the Green Hills Neighborhood. Average monthly prices have declined by $20,000 over the last 6 months. When we examine the 12-month average, prices have decreased by $24,000. This decrease could continue and increase over the next few months. When we compare the Green Hills Neighborhood to the other neighborhoods for which we have stats. 4 of them had no sales in the last 6 months. 6 (like the Green Hills Neighborhood) had a decrease 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, the Green Hills neighborhood is doing very well. There are only a few sales in the Green Hills neighborhood every twelve months. Given the neighborhood's appeal, demand in this area has historically been strong and is expected to remain so. Now that most of the homes have been remodeled, this tract has become similar to a tract of homes in Orange County, but at better prices than you can get in Orange County.

Prices in the area will continue to correct over the next few months, but should stabilize or possibly rebound by summer or towards the end of the year. Given strong demand in the city and the neighborhood, and a shortage of listings, the Green Hills neighborhood will perform well this year, barring any economic headwinds.

Price Statistics

Over the last six months, the monthly average price in this neighborhood was $995,000, compared to $1,015,000 in the previous six months. This has resulted in a $20,000 monthly average price decrease in the Green Hills neighborhood over the past six months. As you can see from the price graph, prices in the Green Hills neighborhood have remained relatively stable over the last six months. The lowest monthly average for the last six months was $900,000, and the highest was $1,055,000. This yields a $155,000 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 in this neighborhood was $1,003,000, compared to $1,027,000 for the previous 12 months. This results in an average monthly price decrease of $24,000 for the Green Hills neighborhood over the past 12 months. As you can see from the price graph, prices in the Green Hills neighborhood have remained relatively stable over the last 12 months. The lowest monthly average for the last 12 months was $900,000, and the highest was $1,120,000. This yields a $220,000 price spread for the neighborhood over the last 12 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 last 6 months, we have seen a 0.3 increase in monthly sales and a 1.2 increase in monthly listings. This is based on the last 6-month average of 1.6 sales and 3.3 listings per month, compared to the previous 6 months, which averaged 1.3 sales and 2.2 listings per month.

In the past 6 months, homes in La Mirada have sold quickly, with an average of 30 days before entering escrow. For the past 6 months, sales in this neighborhood have averaged 20 days on the market before entering escrow.

Over the last 12 months, we have experienced a 0.2 decrease in monthly sales and a 0.8 increase in monthly listings. This is based on the last 12-month average of 1.5 sales and 2.8 listings, compared to the previous 12 months, which averaged 1.7 sales and 2.0 listings.

In the past 12 months, homes in La Mirada have sold quickly, with an average of 25 days before entering escrow. For the past 12 months, sales in this neighborhood have averaged 19 days on the market before entering escrow.

A map of current active listings and sales in the Green Hills neighborhood for the last 12 months, that was used in this analysis