Price summary
Compared to the previous 12 months' average price: Loss of -$1,000
Average price over the last 12 months (10/25) - (9/26): $964,000
Average price over the previous 12 months (10/24 - 9/25): $965,000
Highest average price for a month for the last 12 months: $1,035,000
Lowest average price for a month for the last 12 months: $$868,000
Difference between the highest and lowest month: $167,000
Highest price home sold in the last 12 months: $3,000,000
Very unusual for such a high price. The next highest is $1,660,000
Lowest price home sold in the last 12 months: $595,000
The average price of $964,000 represents a $1,000 loss over the last 12 months for the city of La Mirada. The price table below shows how this loss compares with each neighborhood. As the price graph below shows, prices in La Mirada have remained relatively stable over the past 12 months, but this is the first time in years that the city’s annual average has gone down.
The price differences in the city are due to factors such as property condition, added square footage, an added pool, and location.
Over the past 12 months, sales averaged 20 per month, and listings averaged 48 per month. This means that 42% of available monthly listings sell. This is a very high percentage, which helps keep prices up due to the lack of available inventory each month. Also, due to limited inventory, homes in La Mirada average only 29 days on the market before going into escrow.
City Price Forecast
The demand for the city has always been strong. La Mirada is a well-run city with diverse activities for all ages, offering a wide range of options. Examples include the Theater. Golf course, Senior Center, Regional Park, local parks, Sports facilities for Soccer, Baseball, Softball, Basketball, and, of course, swimming. Because the city is well-governed and offers substantial benefits to its residents, demand is strong. This, combined with the low number of listings, increases the city's demand and helps keep prices from falling quickly,
Prices in the city will continue to correct down over the next few months. Although the September city’s 1-month average is $1,035,000 compared to the annual 12-month average of $964,000, prices are starting to drop. Annual average prices dropped in 6 of 13 neighborhoods (see table below), bringing the city average down by $1,000. While this isn’t much, expect the loss to get higher in the next few months. It should also be noted that about 40% of sold listings have price reductions, and September sales in the city were down about 30% from the average of the last 6 months. (see sales graph)
If interest rates remain high, this correction may go into 2027. Right now, the main problem is with the war in Iran. This is driving fuel prices up, which is driving inflation up. The main way to fight inflation is to raise interest rates, which we've done. Home loan rates are now in the 7.25% range. Strong demand for the city and a shortage of listings are keeping prices from falling faster. The city's overall annual average price for 2026 should be about the same or lower as it was in 2025.
Even though the city’s annual average is only down $1,000, the decline is expected to accelerate over the next few months. Interest rates are driving the market right now. And the forecast is for interest rates to go up.
Thinking About Selling Your La Mirada Home?
Talk to Ty.
Before you make one of your biggest financial decisions, take 30 minutes to talk with someone who has more than 40 years of real estate experience.
You may be wondering what your home is worth, whether now is the right time to sell, or what you should do to get your home ready for the market.
You may not even be sure you want to move yet. That's perfectly fine.
I'd like to invite you to have a conversation with me about your home and your options.
During our 30 minutes together, we can discuss:
· What your home might realistically sell for in today's market.
· What buyers are looking for in La Mirada.
· Which improvements may be worth making—and which may not be.
· How to approach pricing and marketing if you decide to sell.
· Questions about timing your next move.
My promise: no sales pressure, just a professional and informative conversation.
I've spent more than 40 years helping people make real estate decisions. My goal is to help you understand your options so you can decide what's best for you.
You don't have to be ready to sell. You just have to be ready to talk.
Talk to Ty.
Call or text me to arrange your 30-minute conversation.
Ty Sutherland
First Team Real Estate
714 342 7270