Local Market Report – April 2020
April was the first full month of the quarantine, so it will be interesting to see what happened in the real estate market. Let’s take a look.
We saw the number of homes sold in April drop an average of 29.5% in our market area compared to 2019, but the year-to-date sales compared to the same time last year was actually higher in 2020.
Prices continued to rise, with an average appreciation rate of 6.4%, year over year. We ended the month with fewer homes on the market due to the fact that many homeowners have decided to put their sales on hold until the pandemic worries are behind us. Therefore, there is a huge decline in the months supply of homes available, which was already strained.
However, homes are still coming onto the market, and homes are closing. Those who need to move now can do so, but now more than ever it’s crucial to make certain you hire a competent, professional agent who is skilled in technology and negotiation. See this month’s video to learn more: Safer in Place Home Buying and Selling
| A “balanced market” is a 6 month supply of homes. A “sellers’ market” is anything less than that, while a “buyers’ market” is any that has more than 6 month supply. | |||||||||||
| CITY | April 2019 Median Sales Price | April 2020 Median Sales Price | Year over Year Appreciation | April 2019 Ave. Days on Market | April 2020 Ave. Days on Market | Total # of Sales – April 2019 | Total # of Sales – April 2020 | Total # of Sales – YTD | Active Listings | Months of Supply | Previous Yr Supply Change |
| Arcadia | $1,213,800 | $1,130,000 | -6.9% | 69 | 50 | 37 | 37 | 150 | 169 | 4.0 | -35.5% |
| Azusa | $450,000 | $551,909 | 22.6% | 39 | 19 | 37 | 29 | 115 | 56 | 1.7 | -32.0% |
| Baldwin Park | $454,000 | $515,000 | 13.4% | 66 | 13 | 36 | 15 | 80 | 50 | 2.3 | -39.5% |
| Claremont | $665,000 | $675,000 | 1.5% | 62 | 22 | 26 | 25 | 102 | 71 | 2.5 | -32.4% |
| Covina | $520,000 | $570,000 | 9.6% | 55 | 42 | 46 | 49 | 169 | 89 | 1.9 | -20.8% |
| Diamond Bar | $650,000 | $650,000 | 0.0% | 54 | 29 | 41 | 29 | 165 | 124 | 2.8 | -39.1% |
| Fontana | $410,500 | $462,500 | 12.7% | 43 | 27 | 174 | 114 | 550 | 274 | 1.8 | -41.9% |
| Glendora | $639,000 | $676,750 | 5.9% | 50 | 30 | 48 | 28 | 135 | 75 | 1.9 | -44.1% |
| Hacienda Heights | $655,000 | $613,950 | -6.3% | 44 | 22 | 45 | 26 | 119 | 73 | 2.3 | -30.3% |
| La Puente | $485,000 | $525,000 | 8.2% | 44 | 30 | 36 | 22 | 122 | 77 | 2.2 | 22.2% |
| La Verne | $625,000 | $699,000 | 11.8% | 32 | 28 | 19 | 30 | 89 | 43 | 1.8 | -43.8% |
| Monrovia | $691,000 | $800,000 | 15.8% | 26 | 38 | 30 | 15 | 91 | 50 | 2.0 | -33.3% |
| Montclair | $447,250 | $489,000 | 9.3% | 30 | 18 | 18 | 14 | 58 | 31 | 2.0 | -13.0% |
| Montebello | $544,500 | $590,000 | 8.4% | 27 | 22 | 18 | 15 | 90 | 20 | 1.0 | -64.3% |
| Ontario | $415,000 | $455,000 | 9.6% | 49 | 35 | 129 | 79 | 400 | 229 | 2.0 | -23.1% |
| Pomona | $420,000 | $470,000 | 11.9% | 36 | 33 | 70 | 46 | 215 | 129 | 2.0 | -25.9% |
| Rancho Cucamonga | $495,000 | $523,500 | 5.8% | 46 | 28 | 163 | 111 | 488 | 321 | 2.4 | -29.4% |
| Rowland Heights | $670,000 | $748,000 | 11.6% | 44 | 27 | 23 | 19 | 72 | 46 | 2.4 | -42.9% |
| San Dimas | $604,975 | $635,000 | 5.0% | 41 | 24 | 22 | 21 | 82 | 53 | 2.1 | -25.0% |
| Upland | $560,000 | $604,900 | 8.0% | 46 | 33 | 80 | 48 | 221 | 162 | 2.6 | -18.8% |
| Walnut | $753,750 | $750,000 | -0.5% | 60 | 45 | 16 | 23 | 82 | 71 | 3.4 | -46.0% |
| West Covina | $553,000 | $615,000 | 11.2% | 52 | 22 | 54 | 32 | 190 | 93 | 1.7 | -48.5% |
Certainly, some potential home-buyers may be affected adversely by recent events, though it isn’t expected that it will affect the market that significantly. It is expected that the market will pick up again soon, perhaps as early as July and August, meaning that the usual ‘selling season’ may just be delayed this year. I’ll continue to keep you abreast of developments.
For those of you who may have friends or relatives outside our area who need a Realtor, I’m happy to do some behind the scenes screening and recommend a good agent or two to them. No cost to you or your friends, of course. Learn more here.
As always, find me at 626-290-1250 or MaryAnglin.Realtor@gmail.com
