July 2023 Lake Los Angeles Real Estate Report
Lake Los Angeles – July real estate matters in this community saw 9 properties listed for sale and 7 properties in escrow waiting to be closed at the end of business.
The properties that closed escrow in July were 12 ranging in prices from $245,000 to $430,000, the average being average square footage 1,438 and the average year built 1985.
Edwin Momeny with Realty Executives remarked, “Local stats for July 2023: Average days on the market went from 95 to 24 days and the sell-through time went from 21 to 10 days. The sold to list ratio stayed around 101% but average active list price went from $352.5k to $340k and median sale prices dropped from $375k to $372.5k. The number of active listings dropped while the number of closed sales stayed the same.
“Advice is still the same: due to the supply of housing remaining low, and interest rates reigning high, sellers still need to price competitively and offer credit concessions to attract buyers if you don't sell quickly.”
The facts and figures about closed escrows, pending properties and listings are the courtesy of East Valley Real Estate Realtor Mary Howard.
By : Shirley Harriman