Originally posted at: http://www.firstteam.com/blog/?p=6533
In a seller’s market homes sell quickly at a good price equal with home values. Average Days on Market or DOM is how the real estate world measures how quickly a home sells.Days on Market is the time period between when a property is first listed on the MLS and when that property is sold. An average DOM is great for sellers because that means homes are in high demand, not staying on the market long and generally selling for at or above average value prices.
The average Days on Market for Los Angeles County is 51 days – 10 days shorter than the Orange County average. Based on city specific DOM, sold prices and square footage prices, we’ve found the Top 10 sellers markets in Los Angeles County.
Although they are “sellers” markets, each city on our list represents a good market for both buyers and sellers. Great for sellers because homes are in high demand and selling quickly and desirable because buyers have been snatching up this real estate! If you’re living in one of these L.A. County communities, it might be time to sell and move up to your next home.
1. Hawaiian Gardens – Located in the Gateway Region, Hawaiian Gardens is in the economic core of Los Angeles County but still maintains and safe and secure community feel. The city is probably best known for the 57,000 Hawaiian Gardens Casino which has been in the city since 1996.
DOM: 10
Avg. Sold Price: $225,000
Avg. Sq. Ft. Price: $181
View Hawaiian Gardens Homes For Sale
2. Bell Gardens – Along with Hawaiian Gardens, Bell Gardens is one of five Los Angeles County cities to legally allow casino gambling. The luxury Bicycle Casino is a major source of revenue for the city and community resource offering conference areas for business and delicious dining for pleasure.
DOM: 17
Avg. Sold Price: $210,000
Avg. Sq. Ft. Price: $182
View Bell Gardens Homes For Sale
3. Huntington Park – This L.A. suburb community is popular with working class families, 58% of households in the city have children. Huntington Park’s downtown is a major commercial hub serving families in town and in the neighboring cities of Bell Gardens, Cudahy, South Gate and Downey.
DOM: 19
Avg. Sold Price: $222,000
Avg. Sq. Ft. Price: $189
View Huntington Park Homes For Sale
4. Maywood – Maywood is a small city surrounded by the bustling metropolis of Los Angeles. The city is popular with families who work in neighboring communities like City of Commerce and Vernon. Average square footage prices have increased 37.9% from just last month and average sold prices have increased 41.2% shooting up from $216,000 to $305,000.
DOM: 23
Avg. Sold Price: $305,000
Avg. Sq. Ft. Price: $252
5. Signal Hill – Completely surrounded by the city of Long Beach, Signal Hill is desirable to buyers because of its prime location. Average square footages prices have appreciated 10.3% from last month and average sold prices have gone up 4.7% since last year.
DOM: 26
Avg. Sold Price: $315,000
Avg. Sq. Ft. Price: $243.1
View Signal Hill Homes For Sale
6. Rosemead – Located in the west San Gabriel Valley, Rosemead has a rapidly growing Asian population. Rosemead, CA is a hot seller’s market because property values are appreciating. Average sold prices have increased 8.3% from this time last year and 19.9% from last month.
DOM: 29
Avg. Sold Price: $522,000
Avg. Sq. Ft. Price: $470
7. Culver City – Home to MGM studios, Culver City is a hub for motion picture, television and various entertainment production. The city has its own school district and a unique blend of shopping, entertainment and restaurants to enjoy.
DOM: 32
Avg. Sold Price: $605,000
Avg. Sq. Ft. Price: $478
View Culver City Homes For Sale
8. South Gate – South Gate Parks and Recreation department offers residents 9 city parks and a municipal golf course. The city is primarily served by the Los Angeles Unified School District and its neighboring cities include Downey, Lynwood and Bell.
DOM: 35
Avg. Sold Price: $339,000
Avg. Sq. Ft. Price: $284
View South Gate Homes For Sale
9. San Marino – San Marino is a beautiful and lush community making it a popular place to buy for affluent families and individuals looking to buy in Los Angeles County. Buyers love the expansive properties, beautifully maintained public parks and top rated school district.
DOM: 35
Avg. Sold Price: $3,684,000
Avg. Sq. Ft. Price: $1,891
View San Marino Homes For Sale
10. Lawndale – South Bay is in the South Bay region of Los Angeles County and has become increasingly popular among home buyers. Average square footage prices have increased 39.3% from this time last year and 5.9% from last month and home sold prices have increased 19.9% from this time last year.
DOM: 35
Avg. Sold Price: $476,00
Avg. Sq. Ft. Price: $362
View Lawndale Homes For Sale
