La Mirada Real Estate Market Trends For The North La Mirada Neighborhood
North La Mirada neighborhood Six And Twelve-Month Comparison
Price Summary
In the North La Mirada Neighborhood, prices have declined by a monthly average of $18,000 over the last 6 months. When we examine the last 12-month average, prices have increased by $22,000. However, this increase should be reduced over the next few months. When we compare the North 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, North La Mirada is doing well. Demand for this area has always been strong, and prices have remained consistent with those in other areas built in the early days of the City of La Mirada. Next to this neighborhood are Home Depot, Stater Bros, and, of course, Walmart shopping centers.
Prices in the area will continue to correct downward over the next few months, but should stabilize or possibly rebound by summer or towards the end of the year. With strong demand for the city and area and a shortage of listings, barring any economic problems, the North La Mirada Area will do well this year.
Price Statistics
Over The Last six-months, the 6-month average price for this neighborhood was $875,000, compared to $893,000 in the previous six-month period. This results in an average monthly price decrease of $18,000 in the North La Mirada neighborhood over the last six months. As you can see from the price graph, prices in the North La Mirada neighborhood have remained relatively stable over the last six months. The lowest monthly average for the last six months was $800,000, and the highest was $939,000. This yields a $139,000 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 monthly average price for this neighborhood was $884,000, compared to $862,000 for the previous 12 months. This results in an average monthly price increase of $22,000 in the North La Mirada neighborhood over the last 12 months. As you can see from the price graph, prices in the North La Mirada neighborhood have remained relatively stable over the last 12 months. The lowest monthly average for the last 12 months was $800,000, and the highest was $1,038,000. This yields a price spread of $238,000 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 observed decreases of 1.0 in sales per month and 1.5 in listings per month. This is based on the last 6-month average of 1.7 sales and 6.8 listings, compared to the previous 6 months, which averaged 2.7 sales and 8.3 listings.
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 16 days on the market before entering escrow.
Over the last 12 months, we have observed a 0.3 decrease in monthly sales and a 1.0 increase in monthly listings. This is based on the current 12-month average of 2.2 sales and 7.6 listings, compared to the previous 12 months, which averaged 2.5 sales and 6.6 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 17 days on the market before entering escrow.
A map of current active listings and the sales in North La Mirada for the last twelve months was used in this analysis.
The table below lists the prices used in the North La Mirada analysis over the last twelve months.
North La Mirada neighborhood Twenty-Four-Month: Price Graph
North La Mirada neighborhood Twenty-Four-Month Demand Graph: Sales vs Listings
North La Mirada, compared to the city of La Mirada and the Individual La Mirada neighborhoods
All data is from the CRMLS