06 Mar 2009

La Mirada Home Sales ~ Feb/2009

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house-money-smallLa Mirada,  in So Cal is a great place to call home. If you lived in La Mirada you would be one of approximately 50,000 residents.

Single Family Home Activity for February:

  • 92 re-sale homes currently for sale in the city, down about 10% from the prior 3 months, and approximately 30% fewer from mid-year and far  fewer than the beginning of 2008.
  • Asking prices ranged from $225,000 to $775,000 for the city.
  • Average asking price is $442,000 almost the same as the past two months.
  • Average price per square foot for single family homes is $253.00.
  • 33 pending sales up from 22,16,19 for the past 90 days.
  • 14 homes closed escrow, as compared to 36,26,20 in the last 2-4 months.
  • Average selling price was $357,800 (the lowest I’ve seen in years).
  • Average selling price per square foot $245.89

Condominium activity for February: Condo prices for the month ranged from $133,000 to $435,000.

  • 23 condos are currently for sale, almost identical to the past 90 days.
  • Average asking price was $262,875.
  • Average asking price per square foot was $262.00.
  • 5 pending sales (in escrow) compared to 4 two months ago, and a little higher than prior months.
  • 3 properties closed escrow, compared to 4,5 and 3 in the past few months.
  • Average condo selling price was $260,900.
  • Average condo selling price per square foot was $237.15.

***The City of La Mirada has a 2.1 month supply of homes (combined single family and condos) for sale,  down from 60 days ago at 3.8 and and down also from prior months. That’s the length of time it would take to sell the existing inventory of homes for sale, provided sales continue at the same pace this year as in 2008, and providing no new listings enter the market place.

I think it’s also worthy to note that while the number of sales were up year-to-date (past 12 months) 320 single family vs. 230 for same time period 24 months ago. Although the number of sales has increased, prices have continued to decline.

If you’re looking to sell your La Mirada home remember that 87% of home buyers begin their home search online.  Check out my other La Mirada areas posts. Contact me for the maximum exposure for marking your home!

About the Author

I maintains an active residential re-sale brokerage in Brea, CA, located in Orange County, about 20 minutes north of Disneyland. Contact Lynda directly at (714) 595-1494, or Lynda@PreferredHomeBrokers.com – CA License #00402040

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