Local Market Stats – May’s Figures

When we review May’s market activity, we see very similar numbers to April.  We remain in a “Seller’s Market” (less than a 6 month supply of homes) throughout most of our area, though Arcadia is beginning to level out at 5.5 months supply.

Covina, La Puente, Ontario, Rancho Cucamonga, San Dimas, and West Covina all have less than a two month supply. If you live in one of these cities and have been on the fence about selling, now would be a great time!  Days on market for those cities is less than a month and with the exception of Rancho (99.6%)  and San Dimas (99.7%), the final sales price is higher than the original list price, though those two cities are also very close.

CITY May Average Sales Price May Ave. Days on Market Total # of Sales – May Total # of Sales – YTD Year over Year Appreciation Active Listings Months of Supply
Arcadia  $            1,353,235 43 46 212 5.8% 253 5.5
Azusa  $              481,889 29 34 153 5.50% 98 2.9
Baldwin Park  $              429,133 15 19 132 11.00% 56 2.9
Claremont  $              733,150 24 29 124 6.80% 93 3.2
Covina  $              530,000 23 69 261 9.30% 106 1.5
Diamond Bar  $              640,000 31 53 213 4.80% 214 4.0
Fontana  $              415,000 29 169 762 10.60% 335 2.0
Glendora  $              616,000 29 60 214 6.40% 123 2.1
Hacienda Heights  $              616,682 23 45 165 9.10% 98 2.2
La Puente  $              468,627 30 60 226 9.20% 88 1.5
La Verne  $              661,641 18 22 105 1.90% 77 3.5
Montclair  $              390,804 14 17 96 7.50% 36 2.1
Montebello  $              470,280 45 25 115 13.50% 52 2.1
Ontario  $              412,586 22 107 495 8.50% 187 1.7
Pomona  $              418,197 30 79 365 9.40% 166 2.1
Rancho Cucamonga  $              570,247 25 196 726 8.00% 294 1.5
Rowland Heights  $              685,211 21 19 89 6.90% 88 4.6
San Dimas  $              582,303 32 37 150 6.40% 58 1.6
Upland  $              593,803 34 65 334 7.80% 199 3.1
Walnut  $              772,542 34 24 107 8.00% 105 4.4
West Covina  $              578,401 22 78 282 5.40% 130 1.7

What does being in such a strong sellers’ market mean for buyers & sellers?

  • Sellers, you must still make sure that your home is priced right and presented well. If so, you’ll likely experience a bidding war. If you don’t have buyers competing for your home, find out from your agent why that isn’t happening. Are you priced correctly? Is your agent providing top-notch marketing? Those are honestly the only reason for a non-sale in this market.
  • Buyers, be completely ready with all your paperwork, and be ready for the fact you might end up making several offers before one gets accepted. Make sure that your agent has strong negotiating skills, and is an agent who is organized and on top of things. In this market, with sellers having more than one offer to choose from, it’s not only the offer that must look good, but a well-qualified buyer’s agent will make a positive impact as well.

Homeowners, here’s a very positive note: throughout the area, the appreciation over the past 12 months is 8%. This is exceptional. Will it stay this high? Experts have differing opinions; stay tuned.

If you have any questions on a specific city, or would like more info on the market, or your particular home or home search, don’t hesitate to reach out. Mary Anglin: (626) 290-1250.