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June Market report - Values slightly lower but an increase to come?

by Southern Californias Top Producing Mother & Son Te

We have a couple of interesting things to go over this month in relation to the current real estate market in Downey and the surrounding area.  It seems that values have decreased from the previous month.  In just 1 month the average sales price decreased by about 5%.  That’s a pretty big drop from one month to the next.  The good news is that if we just focus on progress this year although there was a bog decrease in value this month, we are still above average sales price of January.  Being that we are already about halfway through 2012 that’s not such a bad thing.  Let’s take a look at the graph we generated using data from the MLS.  The average sales price for residential homes in January was $290,139 whereas the average sales price for May, just last month was $292,430.  So technically speaking we are slightly under a 1% increase in home values from January 2012 to May 2012. 

Take a look at the graph again and you will see a red arrow that we’ve placed there at the start of this year to show the beginning of a potential uptrend.  Either way values don’t seem to be taking any drastic turns for the worse.  Summer is always a time where home sales pick up primarily because this is the time families like to make their moves to accommodate their kids schooling schedule, so we foresee a slight increase in property values soon.  Of course, time will tell.  Please call us to discuss your particular plans, whether your thinking of buying or selling.  We’d love to help you!       

Graph above is based on MLS data for the following cities: Bell, Bellflower, Bell Gardens, Cerritos, Downey, La Mirada, La Habra, Long Beach, Lakewood, Montebello, Norwalk, Paramount, Pico Rivera, Santa Fe Springs, South Gate, and Whittier



Hey everyone!  Take a look at our listing at 7810 Bangle Rd in Downey.  Being that this home is super big, and super nice we created an MTV Cribs spin on showing this home and had a lot of fun with it!  Take a look and be sure to tell us what you think of the home!

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Photo of The Mother & Son Team - Maria Palacios & Chris Gon Real Estate
The Mother & Son Team - Maria Palacios & Chris Gon
Berkshire Hathaway HomeServices, California Properties
16911 Bellflower Blvd
Bellflower CA 90706
(877) 883-1003
Fax: 562-381-9113