Housing Market Report
Cerritos, CA 90703
Condos/Townhomes
Michael Del Rosario | CerritosLiving.com
Cerritos, CA 90703
Sat Aug 17 2019
This week the median list price for Cerritos, CA 90703 is $398,000 with the market action index hovering around 51. This is about the same as last month's market action index of 51. Inventory has held steady at or around 8.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Strong Seller's Market
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $398,000 | |
| Per Square Foot | $451 | |
| Days on Market | 49 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 8 | |
| Median Apartment Rent | $2,600 | |
| Most Expensive | $630,000 | |
| Least Expensive | $340,000 | |
| Market Action Index Strong Seller's Market | 51 |
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $617,500 | 2,051 | 0.25 - 0.5 acre | 4 | 3 | 17 | 0 | 0 | 115 |
| $409,000 | 888 | 1 - 2.5 acres | 2 | 1 | 49 | 1 | 0 | 7 |
| $393,500 | 812 | 2.5 - 5 acres | 2 | 0 | 46 | 0 | 1 | 59 |
| $354,500 | 864 | 2.5 - 5 acres | 2 | 1 | 47 | 0 | 1 | 14 |