Market Report on Homes for Sale in Whittier, CA – January 2, 2012

Market Report on Homes for Sale in Whittier, CA – January 2, 2012

This Market Report on Whittier Homes for Sale will focus on Single Family Residences
in Whittier, California. It does not include condominiums or Multifamily Residences.

As of today, there are exactly 431 homes for sale in the Whittier area, and 374 of them
are Single Family Residences.

113 homes were sold in the City of Whittier during the month of December.
Over the past three months, 310 homes were sold in Whittier.

The average Whittier home sale price in December was
$322,972, at an average cost per square foot of $226.01.

265 Whittier homes are currently in Backup or Pending status.

Homes are taking an average of 93 days to sell in this market.

It would take 3.3 months, at the current rate of sales, for all the current Whittier homes
on the market to sell. Technically a Sellers’ Market is when there is less than 5 months
of supply. At 3.3 months absorption rate, Whittier is clearly in a Sellers’ Market. Despite these technical statistics, homes that are not in top condition or priced to sell, simply will not sell, and will sit on the market for months.

According to Realtors® Property Resource, median home values declined in 2011 for all Whittier zip codes from December 2010 to December 2011.

It is clear that we are in a declining real estate market. So, if you are thinking of selling for top dollar, the sooner you sell, the better.

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