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Tracy King's Blog

Fun with Real Estate Statistics – Northeast Los Angeles and surrounding areas

This is the first of my end-of-year reflections on where we are and where we’ve been and why do we do this anyway?
I have lots of caveats about the following statistics. Note that the source is called Trend Graphics. These are generalizations, trends, an overview of what the market has done over a period of time.

This is the first of my end-of-year reflections on where we are and where we’ve been and why do we do this anyway?
I have lots of caveats about the following statistics. Note that the source is called Trend Graphics. These are generalizations, trends, an overview of what the market has done over a period of time. Just because the average price of homes in the Eagle Rock 90041 zip code has gone up 104% in the last 9 years, doesn’t mean that if you bought your home in October 2000, that it is worth 104% more today. But it does mean that generally speaking, homes in Eagle Rock are worth about double what they were in 2000. Some might be more, some less, but it’s a good benchmark.

90041 9-Year Graph




90041 9-Year Graph






 

 

90041 9-year Table

90041 9-year Table


I think that speaks well for real estate as a long-term investment. Especially when you see that the values in the last 2 years plummeted 35%. One reason our inventory is so low is we all remember what we might have gotten in 2007 or 2008 and we just can’t bear to hear what we need to accept now. I’ve heard this argument many times so far this year. Cheer up, take the long view. Even after all the ups and the downs, if you have owned your home for a long time, you’ve done ok. If you have a good reason to move now, don’t let what might have been 2 years ago stop you. Imagine how much less you would have gotten at the beginning of 2009, now that was a lousy time to sell!

 

 

90041 2-Year Graph

90041 2-Year Graph


 

90041 2-year Table

90041 2-year Table


But what if you had sold your house at the bottom of the market in the beginning of this year and bought another, also at the bottom of the market? Hmmm.

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