Enjoy a complimentary Eagle Rock Real Estate Market Update for November 2017
This Month in Real Estate:
November saw an overall increase in inventory of homes and a drop in home’s sale price in the Eagle Rock real estate market. The market had a total of 21 units sold at a median price of $740,000. That compared to the sales price one year ago showed a significant drop of -8.8% in price. Prices compared to last month had an decrease as well of -16.4%. Regardless, the average sale price landed with an increase from the last month at 103% of list price suggesting that even though prices were lower this month they all sold above their asking price. Compared to last month, this shows that home values saw an overall decrease in values.
The average days to sell time on the market increased to an average of 30 days. The most important indicator for determining which type of market we are in currently is the average time it takes for the entire inventory supply of homes to sell. Anything below 4 months indicates a seller’s market, between 4-6 months is a balanced market, and over 6 months is a buyer’s market. Currently, we are still in a strong seller’s market. However, with rates going up we may see a shift to a more stable and balanced real estate market in the coming months.
Other City’s Average Median Home Values:
- In Los Angeles: $795,000
- In Mount Washington: $830,000
- In La Crescenta: $748,000
- In Glendale: $720,000
- In Burbank: $730,000
- In Pasadena: $800,000
- In Studio City: $1,095,000
- In Shadow Hills: $728,000
We hope you found this real estate market update for November 2017 helpful. Each month you will be provided with monthly real estate updates on the market. If you would like a more comprehensive free no obligation market evaluation text or call me at (818) 389-4465 today.