June Local Real Estate Report-Homes Holding Value

Thursday, June 24, 2010

by Southern Californias Top Producing Mother & Son Te

google map to real pro systems

June Real Estate Report

We have spoken with many buyers and sellers over the past month who have been expressing to us that they are noticing some stability in home values as they have been shopping for homes the past few months. According to the graph below and SoCal MLS reports, it is quite accurate to say that we have hit a point of stability in the market. The average sales price for homes for the month of May was $321,288. That is a drop of 1.1% from the previous month. With that decrease in home values being very minuscule, and looking back at home values for the previous months of 2010, it is looking like there is a settling in home values and the market is much more stable.

The graph below shows a monthly average sales price history for homes located in the cities, of Downey, Lakewood, South Gate, Whittier, Pico Rivera, Montebello, Norwalk, Bell, Bellflower, Cerritos, La Mirada, La Habra and surrounding areas, from April 2008 to May of 2010.