Local Market Stats – July 2018 Figures
When we look at our sales figures for July and our current month’s supply of homes, we see that the numbers for each city have changed slightly up or down, but not significantly. We remain in a sellers’ market.
However, Arcadia is now in what’s considered an even market, with Walnut close to that status. The reason for that is the higher price of homes. Homes is the upper dollar ranges don’t tend to sell as quickly and those markets are subsequently normally fairly even.
There is recent concern about ‘affordability’, with the concept that the continually rising price of homes coupled with rising interest rates makes purchasing a home unaffordable for many people. However, one factor to consider is that homes were more affordable from 2009-2015 simply because that’s when distressed properties dominated the market. Without that anomaly, housing is more affordable now than it has been since 1990. Check out this short video to see what I mean.
Here are July’s figures.
|CITY||July Average Sales Price||July Ave. Days on Market||Total # of Sales – July||Total # of Sales – YTD||Year over Year Appreciation||Active Listings||Months of Supply|
|Baldwin Park||$ 446,346||19||27||179||7.30%||83||3.1|
|Diamond Bar||$ 695,427||37||50||322||16.50%||203||4.1|
|Hacienda Heights||$ 655,679||31||37||239||12.60%||102||2.8|
|La Puente||$ 467,524||27||58||340||10.00%||77||1.3|
|La Verne||$ 681,434||34||36||168||9.60%||68||1.9|
|Rancho Cucamonga||$ 563,616||24||155||1041||6.90%||411||2.7|
|Rowland Heights||$ 594,834||28||29||136||-7.90%||94||3.2|
|San Dimas||$ 630,041||26||30||206||5.20%||75||2.5|
|West Covina||$ 588,405||23||59||409||7.50%||176||3.0|
Let me know if you need more detailed info 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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