Whether you are a prospective buyer, a current homeowner, or thinking about selling, staying informed about the local real estate market is crucial. In the dynamic housing landscape of Lake View Terrace, keeping abreast of the latest trends and statistics can be a game-changer. This report, dated February 29, 2024, provides a valuable snapshot of the Lake View Terrace housing market, highlighting key metrics from the past 30 days that are essential for making informed decisions.
Key Metrics
- Current Active Homes on the Market: 7
- This figure indicates a relatively limited inventory, which could imply a seller’s market. Fewer homes mean increased competition among buyers, potentially driving prices up.
- Median Listing Price: $969,000
- This median price is a vital indicator of the market’s health and the general affordability of homes in Lake View Terrace. It reflects the midpoint of the housing prices, suggesting a high-value market in this region.
- Median Price Per Square Foot: $827
- This statistic helps in comparing the value of homes of different sizes and types. A higher price per square foot often indicates a high demand for properties in the area.
- Number of Sold Homes in the Past 30 Days: 8
- The number of homes sold is an important indicator of market activity. A higher number of sales can signal a strong market with good liquidity.
- Median Sold Price Over the Past 30 Days: $909,500
- This shows the median price at which homes have been selling recently. It’s slightly lower than the median listing price, suggesting some room for negotiation in transactions.
Selling Your Home
These figures are particularly relevant if you’re contemplating selling your property in Lake View Terrace. The current median selling price of $909,500 helps set a realistic expectation for your property’s value. Understanding these dynamics is key to pricing your home competitively.
Making the Market Work for You
The real estate market can be complex, but with professional guidance, navigating it becomes more straightforward. As a Broker Associate with JohnHart Real Estate, I have the expertise to help you understand and make the most of these market conditions, whether buying or selling.
Lake View Terrace, nestled in the San Fernando Valley region of Los Angeles, offers a unique blend of suburban living with a touch of rural charm. Known for its scenic beauty and tranquil atmosphere, this neighborhood is a haven for those seeking a more laid-back lifestyle within the bustling city. The area is distinguished by various home styles, ranging from single-story residences to more expansive estates catering to diverse preferences and needs. A significant allure of Lake View Terrace is its abundance of outdoor recreational opportunities, particularly for equestrian enthusiasts. The neighborhood has horse properties, offering ample space and facilities for horseback riding and care. This equestrian-friendly environment is further complemented by an extensive network of hiking and horse trails, weaving through picturesque landscapes and providing residents easy access to nature’s beauty. The exclusive Shadow Hills Estates within Lake View Terrace enhance its appeal, known for its spacious properties and emphasis on outdoor and equestrian activities. Overall, Lake View Terrace presents a unique living experience, combining the comforts of suburban life with the joys of rural living and outdoor recreation.
For personalized advice and support, please get in touch with me, Robbyn Battles, at 818.388.1631 or email Robbyn@TheHouseAgent.com. Visit TheHouseAgent.com for more insights and updates on the real estate market.
Homes For Sale in Lake View Terrace:
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