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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.
Rob Willis, of Prudential California Realty in Whittier, is a real estate agent who was born in, works in and markets real estate in Whittier, California, and surrounding communities, including La Habra, La Habra Heights, La Mirada, Santa Fe Springs, Norwalk and Hacienda Heights.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.