2020 Year in Review
To begin with, I’m certain we all agree that the year 2020 eludes definition. And the 2020 real estate market has defied all expectations. By mid-2019 many experts were predicting a recession with a subsequent collapse of the housing market. Yet the market stood strong due in large part to historically low interest rates, while the housing supply could not fill the demand of consumers.
Looking at our local cities chart below, we can see that a.) appreciation was strong across the board, b.) average days on market was quite a bit shorter, and c.) while fewer homes sold in 2020 compared to the previous year, the difference was not as large as one would expect given the challenges the nation faced throughout the year.
Be sure to check out my most recent blog, “New Year, New Home? Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put” to help guide you through 2021.
| CITY | 2019 Median Sales Price | 2020 Median Sales Price | Year over Year Appreciation | 2019 Ave. Days on Market | 2020 Ave. Days on Market | Year Over Year Change | Total Homes Sold 2019 | Total Homes Sold 2020 | Year Over Year Change2 | Current Active Listings | Current Months of Supply |
| Alhambra | $650,000 | $685,000 | 5.4% | 35 | 30 | -14.3% | 331 | 302 | -8.8% | 60 | 2.4 |
| Arcadia | $965,000 | $1,080,000 | 11.9% | 60 | 51 | -15.0% | 543 | 466 | -14.2% | 189 | 5.0 |
| Azusa | $475,000 | $511,000 | 7.6% | 36 | 30 | -16.7% | 423 | 396 | -6.4% | 42 | 1.3 |
| Brea | $715,000 | $760,000 | 6.3% | 42 | 30 | -28.6% | 453 | 453 | 0.9% | 35 | 1.0 |
| Covina | $650,000 | $685,000 | 5.4% | 35 | 30 | -14.3% | 331 | 302 | -8.8% | 60 | 2.4 |
| Diamond Bar | $635,000 | $680,000 | 7.1% | 49 | 34 | -30.6% | 575 | 533 | -7.3% | 98 | 2.3 |
| Glendora | $610,000 | $677,500 | 11.1% | 43 | 30 | -30.2% | 495 | 529 | 6.9% | 57 | 1.3 |
| Hacienda Heights | $650,000 | $673,750 | 3.7% | 41 | 27 | -34.1% | 412 | 356 | -13.6% | 57 | 2.1 |
| La Puente | $485,000 | $530,000 | 9.3% | 34 | 23 | -32.4% | 476 | 403 | -15.3% | 48 | 1.5 |
| Monrovia | $700,000 | $750,000 | 7.1% | 38 | 34 | -10.5% | 325 | 326 | 0.3% | 44 | 1.7 |
| Montebello | $521,500 | $560,888 | 7.6% | 32 | 27 | -15.6% | 238 | 249 | 4.6% | 25 | 1.3 |
| Monterey Park | $660,000 | $690,000 | 4.5% | 37 | 28 | -24.3% | 312 | 269 | -13.8% | 55 | 2.7 |
| Pasadena | $850,000 | $890,000 | 4.7% | 47 | 40 | -14.9% | 1404 | 1307 | -6.9% | 246 | 2.3 |
| Rowland Heights | $650,000 | $890,000 | 4.7% | 43 | 44 | 2.3% | 236 | 230 | -2.5% | 50 | 2.6 |
| San Dimas | $600,000 | $650,000 | 8.3% | 42 | 26 | -38.1% | 331 | 321 | -3.0% | 35 | 1.3 |
| South Pasadena | $1,227,500 | $1,325,000 | 7.9% | 36 | 38 | 5.6% | 154 | 147 | -4.5% | 29 | 2.3 |
| Walnut | $750,389 | $850,000 | 13.3% | 53 | 48 | -9.4% | 264 | 275 | 4.2% | 49 | 2.2 |
| West Covina | $570,000 | $610,000 | 7.0% | 41 | 27 | -34.1% | 678 | 606 | -10.6% | 70 | 1.4 |
| Whittier | $545,000 | $600,000 | 10.1% | 34 | 21 | -38.2% | 1313 | 1257 | -4.3% | 114 | 1.1 |
For those of you who may have friends or relatives outside our area who need a Realtor, I’m happy to do some behind the scenes screening and recommend a good agent or two to them. No cost to you or your friends, of course. Learn more here.
As always, find me at 626-290-1250 or MaryAnglin.Realtor@gmail.com
