La Mirada Real Estate Market Trends For The Lemon Hills Neighborhood

Jun 16

Lemon Hills Six And Twelve-Month Comparison

Price Summary

In the Lemon Hills Neighborhood, prices have declined by $131,000 over the last 6 months. When we examine the 12-month average, prices have increased by $56,000. However, this increase should be reduced over the next few months. When we compare the Lemon Hills 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 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, Lemon Hills is doing very well. The price decrease is expected, and I also expect prices to stabilize, given the area's historically high demand and its expected persistence due to the neighborhood's appeal. Family time at Creek Park is a big selling point. This tract is similar to a tract of homes in Orange County, but at better prices than you can get in Orange County. Given the area's demand and the limited number of listings, prices should increase this spring or summer.

Price Statistics

Over The Last six-months the monthly average price for this neighborhood was $1,008,000, compared to $1,139,000 in the preceding six months. This has resulted in a $131,000 decrease in average monthly price in the Lemon Hills neighborhood over the last six months. As you can see from the price graph, prices in the Lemon 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 $1,255,000. This yields a $325,000 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 price for this neighborhood was $1,083,000, compared to $1,027,000 for the previous 12 months. This results in an average monthly price increase of $56,000 in the Lemon Hills neighborhood over the last 12 months. As you can see from the price graph, prices in the Lemon 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 $1,250,000. This yields a $350,000 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 had an increase of 0.0 sales per month and a decrease of 0.5 listings per month. This is based on the last 6-month average of 1.0 sales per month and 1.2 listings per month, compared to the previous 6 months, which averaged 1.0 sales per month and 1.7 listings per month.

In the last 6 months, homes in La Mirada have sold quickly, with an average of 30 days before entering escrow. For the last 6 months, sales in this neighborhood have averaged 7 days on the market before entering escrow.

Over the last 12 months, we have had a decrease of 0.2 sales per month and a decrease of 0.2 listings per month. This is based on the last 12-month average of 1.0 sales and 1.4 listings, compared to the previous 12 months, which averaged 1.2 sales and 1.6 listings.

In the last 12 months, homes in La Mirada have sold quickly, with an average of 25 days before entering escrow. For the last 12 months, sales in this neighborhood have averaged 42 days on the market before entering escrow.

A map of current active listings and the sales in the Lemon Hills neighborhood for the last twelve months was used in this analysis.