Local Market Stats – January 2019 Figures
“From our perspective, additional inventory is a good thing. However, home buyers dislike uncertainty more than most things, and the transition period from inventory being too tight to inventory rising has indeed added uncertainty to the market.” – Ivy Zelman, The Z Report —- In other words, the market is balancing itself out, and there is no need for worry.
Looking at the table below, we see several things:
1.) Home values are continuing to appreciate though at a slower rate than the previous two years. This is good news for homeowners, many who have been nervous due to a lot of negative chatter. It’s also good for homebuyers, as an assurance of the strength of your purchase from an investment perspective.
2.) The supply of homes on the market has grown. This is great news for buyers because there is more of a selection to choose from, and less competition for you to get into a home. For sellers, it means your home may stay on the market a little longer than has been the case, and though there may still be multiple offers, the insane bidding wars we’ve seen recently are cooling down.
3.) Some of the cities in our area have tipped to a balanced market, while those with generally higher price points have moved into a market that favors buyers.
In the meantime, you can find the data for your city in the chart below.
NOTE: Months of supply is a good indicator of whether a particular real estate market is favoring buyers or sellers. Typically, a market that favors sellers has less than 6 months of supply, while more than 6 months of supply indicates an excess of homes for sale that favors buyers.
| CITY | January Average Sales Price | Jan. Ave. Days on Market | Total # of Sales – January | Total # of Sales – YTD | Year over Year Appreciation | Active Listings | Months of Supply |
| Arcadia | $ 1,194,961 | 49 | 31 | 31 | 10.6% | 229 | 7.4 |
| Azusa | $ 557,893 | 31 | 30 | 30 | 4.2% | 102 | 3.4 |
| Baldwin Park | $ 450,882 | 29 | 17 | 17 | 9.1% | 82 | 4.8 |
| Claremont | $ 674,942 | 45 | 12 | 12 | 3.5% | 85 | 7.1 |
| Covina | $ 549,684 | 30 | 33 | 33 | 6.4% | 122 | 3.7 |
| Diamond Bar | $ 710,809 | 44 | 31 | 31 | 4.1% | 192 | 6.2 |
| Fontana | $ 396,269 | 31 | 106 | 106 | 7.5% | 412 | 3.9 |
| Glendora | $ 590,173 | 38 | 32 | 32 | 4.9% | 115 | 3.6 |
| Hacienda Heights | $ 678,502 | 59 | 27 | 27 | 6.4% | 106 | 3.9 |
| La Puente | $ 485,297 | 33 | 35 | 35 | 8.9% | 108 | 3.1 |
| La Verne | $ 513,482 | 51 | 14 | 14 | 3.9% | 67 | 4.8 |
| Montclair | $ 409,573 | 49 | 19 | 19 | 6.6% | 28 | 1.5 |
| Montebello | $ 525,665 | 40 | 16 | 16 | 5.2% | 58 | 3.6 |
| Ontario | $ 416,255 | 38 | 78 | 78 | 9.8% | 269 | 3.4 |
| Pomona | $ 420,426 | 48 | 42 | 42 | 7.6% | 204 | 4.9 |
| Rancho Cucamonga | $ 563,792 | 52 | 98 | 98 | 7.9% | 412 | 4.2 |
| Rowland Heights | $ 660,368 | 42 | 13 | 13 | -1.3% | 72 | 5.5 |
| San Dimas | $ 618,294 | 58 | 18 | 18 | 0.8% | 80 | 4.4 |
| Upland | $ 561,392 | 60 | 51 | 51 | 6.7% | 152 | 3.0 |
| Walnut | $ 906,876 | 44 | 9 | 9 | -5.8% | 120 | 13.3 |
| West Covina | $ 575,565 | 32 | 33 | 33 | 5.1% | 179 | 5.4 |
By all means, contact me if you have any questions or would like further information on your city, or your neighborhood or home specifically.
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.
As always, find me at 626-290-1250 or MaryAnglin.Realtor@gmail.com
