Michael's Market Report
Cerritos, CA 90703
Condos/Townhomes
<a href="https://www.cerritosliving.com/property-search/">Properties</a> | <a href="https://www.cerritosliving.com/buyers/">Buyers</a> | <a href="https://www.cerritosliving.com/sellers/">Sellers</a>
Cerritos, CA 90703
Mon Apr 22 2019
This week the median list price for Cerritos, CA 90703 is $544,900 with the market action index hovering around 48. This is an increase over last month's market action index of 47. Inventory has held steady at or around 9.
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 begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.
Real-Time Market Profile
| Median List Price | $544,900 | |
| Per Square Foot | $357 | |
| Days on Market | 43 | |
| Price Decreased | 11% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 9 | |
| Median Apartment Rent | $2,510 | |
| Most Expensive | $648,999 | |
| Least Expensive | $234,337 | |
| Market Action Index Strong Seller's Market | 48 |
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $613,943 | 1,708 | 0.25 - 0.5 acre | 3 | 2 | 24 | 0 | 0 | 38 |
| $563,444 | 1,590 | 0 - 4,500 sqft | 2 | 2 | 31 | 1 | 1 | 84 |
| $479,950 | 1,261 | 4,500 - 6,500 sqft | 3 | 1 | 45 | 0 | 0 | 49 |
| $379,000 | 904 | 6,500 - 8,000 sqft | 2 | 0 | 47 | 2 | 2 | 16 |