Lake Balboa Real Estate Market Conditions--January 2014

Lake Balboa real estate remains very strong and is a great opportunity for both buyers and sellers. Sellers benefit from 23 months of strong price gains, which have brought prices to 5-year highs. Also, inventory remains fairly low with only 22 single family homes currently n the market. Considering tat one home is selling more than every two days, this represents less than one and a half months of supply!

Buyers also have an excellent opportunity to move to a fantastic neighborhood close to the park while interest rates remain historically low and rental prices are at all-time highs.

Below is a market snapshot for Lake Balboa:

Sales in last 6 months: 96

Current active listings: 22

Estimated length of current supply: 41 days

Average time on market: 42 days

Average sale price: $451,000

Average interior size: 1,496 Sq.Ft.


For all your real estate needs, please feel free to contact me at ClarkSellsHomes@yahoo.com or you can call me at 818.491.0194.