La Mirada Real Estate Report September 2008 ~ La Mirada CA Home Sales

La Mirada, CA ~ Home Sale Report ~ Market Update for September 2008, activity of single family homes and condominiums re-sales.

It was a rough month for home sellers in La Mirada, sales declined dramatically in September compared to one month ago. While the inventory has declined, it's been ditto for home sales and prices.

La Mirada, CA is located in suburban Eastern Los Angeles County, with nearby Orange County bordering on the east side of the city. If you lived in La Mirada you would be one of approximately 50,000 residents.

Single family activity for September: Home were priced from $299,000 to $1,095,000. It should be noted of 108 homes for sale at this time only one is priced over one-million dollars

• 108 re-sale homes currently for sale in the city, down approximately 30% from last few months, and far fewer than the beginning of the year.
• Average asking price is $475,000 for a 3 bedroom/2 bath home, 1,677 square feet.
• 19 pending sales (in escrow) only about 1/3 of the sales of last month.
• 20 homes closed escrow, also down from compared to 31 and 37 for the last two months.

Condominium activity for September: Condo prices for the month ranged from $120,000 to $570,000.

• 31 condos are currently for sale, compared to 26 last month and about the same as July and down around 18% from early 2008.
• 4 pending sales, (in escrow) compared to 6 in August and 1 in July and a little higher than prior months.
• 3 properties closed escrow, compared to 4 last month.

***The City of La Mirada has a 5.4 month supply of homes for sale, down exactly 30 days from last month and down 60 days from July. That's the length of time it would take to sell the existing inventory of homes for sale, provided sales continue at the same pace this year as in 2007, and providing no new listings enter the market place.

View the most recent La Mirada Bank Repo's for July to compare foreclosure properties and short sales for sale in La Mirada, CA.

If you lived in La Mirada, California you would be approximately:

• 27 miles east of LAX ~ Los Angeles International Airport ~ Los Angeles, CA
• 23 miles north/west of John Wayne Airport ~ Santa Ana, CA
• 36 miles west of Ontario International Airport ~ Ontario, CA
• 10.5 miles north/west of the "Happiest Place on Earth" Disneyland ~ Anaheim, CA

The city has been a favorite since very early in my early days in real estate. The city is also home to Biola College and the famous La Mirada Theater, home to outstanding theatrical productions.

To learn more about real estate if the great City of La Mirada, contact me, Lynda@PreferredHomeBrokers.com or visit my Living In La Mirada and see why La Mirada was also named 'One of the best places to live in 2007" by Money Magazine.

Preferred Home Brokers, successfully serving home buyers and sellers for more than thirty years. ~ CA DRE License #00402040.

• -Data source, SoCal MLS ~ 2008