Enjoy a complimentary Eagle Rock Real Estate Market Update for February 2018
This Month in Real Estate:
February saw an overall decrease in inventory of homes but a significant increase in home’s sale price in the Eagle Rock real estate market. The market had a total of 14 units sold at a median price of $1,058,000. That compared to the sales price one year ago showed a huge rise of 20.9% in price. Prices compared to last month had an increase as well of 24%. The average sale price was 99% of the original list price suggesting that homes are still being sold a little below their original asking price. Compared to last month, this shows that home values saw an overall increase in values.
The average days to sell time on the market increased to an average of 66 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: $735,000
- In Mount Washington: $841,000
- In La Crescenta: $965,000
- In Glendale: $775,000
- In Burbank: $761,000
- In Pasadena: $760,000
- In Studio City: $1,160,000
We hope you found this real estate market update for February 2018 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.