Local Market Stats – August 2018 Figures
Let’s take a look at what has been happening in our local market, as well as what’s expected over the next year. Experts are predicting a slowing of price appreciation, though with a natural moderation, not a sharp decline. This is good news for buyers, coupled with a relatively healthy economy and job market, as well as stabilized mortgage rates.
Comparing August’s figures to July’s, we see that the supply of homes has decreased in nearly every one of our local cities. This is not unusual, as typically in the housing market we see lower inventory supply during October through March. The demand typically lowers as well.
What does this mean for those considering buying and selling in the coming months? Sellers, the buyers who will be coming to view your home are more serious buyers than the flood of window shoppers we normally see in the summer months. Yes, it’s still a fine time to sell your home. Buyers, you’ll encounter less competition and will have more possibility to get into a new home now. For both buyers and sellers, the process will be less hectic and less stressful.
Below are the local market statistics, city by city.
|CITY||August Average Sales Price||Aug. Ave. Days on Market||Total # of Sales – August||Total # of Sales – YTD||Year over Year Appreciation||Active Listings||Months of Supply|
|Baldwin Park||$ 472,670||28||23||202||10.50%||85||3.7|
|Diamond Bar||$ 621,554||41||52||375||4.90%||201||3.9|
|Hacienda Heights||$ 638,533||35||45||284||10.60%||95||2.1|
|La Puente||$ 473,085||27||60||399||8.80%||100||1.7|
|La Verne||$ 605,436||33||32||200||6.80%||58||1.8|
|Rancho Cucamonga||$ 569,635||33||161||1202||8.40%||352||2.2|
|Rowland Heights||$ 745,016||38||19||155||5.30%||94||4.9|
|San Dimas||$ 662,160||26||25||231||7.60%||87||3.5|
|West Covina||$ 595,019||30||77||486||5.60%||189||2.5|
Let me know if you need more detailed information on your city or your home. I’m always happy to help. And remember, when hiring an agent it’s always important to look for someone who understands the market and can answer your questions.
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