$6,888 Closing Credit*
$580,000
1,090 SqFt
2 Beds
•3 Full Baths
Natalia Zeligman, Listing Office: Luxury Collective
Is Lake View Terrace, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Lake View Terrace was a Seller's Market.
Key Takeaway
Lake View Terrace is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake View Terrace, CA
How much do homes in Lake View Terrace, CA cost?
Median Sold Price
$959,000
$531/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$131,500(+15.9%)
Key Takeaway
Homes in Lake View Terrace have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Lake View Terrace was $959,000 in October 2024, up 15.9% from last year, and the median price per square foot was $531.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $610K | N/A |
| 2 Bedrooms | $510K | $545K | +6.9% |
| 3 Bedrooms | $805K | $970K | +20.5% |
| 4 Bedrooms | $860K | $962K | +11.9% |
| 5+ Bedrooms | $943.5K | $1.0M | +6.4% |
Summary: Lake View Terrace housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 20.5%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 6.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Lake View Terrace | $827.5K | $959K | +15.9% |
| Shadow Hills | $973.5K | $1.0M | +8.4% |
| The San Fernando Valley | $870.2K | $937.5K | +7.7% |
| Sunland | $813.5K | $862.5K | +6.0% |
| Sylmar | $735K | $760K | +3.4% |
Housing Supply in Lake View Terrace, CA
How many homes are available in Lake View Terrace, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 21 | -12.5% |
Summary: The Lake View Terrace real estate market had 21 homes for sale in October 2024, a 12.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Lake View Terrace housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake View Terrace, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Lake View Terrace in October 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Lake View Terrace, CA
How long does it take to sell a home in Lake View Terrace, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 22 Days | +37.4% |
Summary: Homes in Lake View Terrace had an average of 22 days on market in Oct 2024, up by 37.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake View Terrace are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Lake View Terrace; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.