Market Report on Homes for Sale in Whittier, CA – May 9, 2012

This Market Report is for Whittier, California.

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 314 homes for sale in the Whittier area, and 272 of them
are Single Family Residences.  The current inventory is the lowest since April 2010.

113 homes were sold in the City of Whittier during the month of April.
Over the past three months, 343 single family homes were sold in Whittier.

The average Whittier home sale price in April was $323,938, atn average cost per square foot of $227.80.

401 Whittier homes are currently in Backup or Pending status, indicating that the next couple of months will see a higher number of closed sales than in the previous 2 months.

Homes are taking an average of 107 days to sell in this market.

It would take 2.4 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 2.4 months absorption rate, Whittier is clearly in a Strong Sellers’ Market, according to a pure statistical analysis. However, despite these technical statistics, today’s low prices, and the historically low interest rates put home buyers into a very good position, and from that perspective, we could call it a Buyers’ Market.

In other words, home affordability is very high right now for anyone looking to buy a home. Nonetheless, with the inventory of  homes for sale in Whittier being so extremely low, home buyers should expect strong competition from other buyers who may be interested in buying the same house they fall in love with.  But, when buyers find the right home, it is much more affordable today than it has been since 2002.

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Thank you for reading the above Market Report on Whittier Homes for Sale.

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For Home Buyers, see this website to start searching for your home.

Thinking about selling your home? Go to The Home Sale Site.

I help home owners in the following towns in the greater Whittier area: La Habra, La Habra Heights, La Mirada, Norwalk, Santa Fe Springs, Covina and West Covina.