$9,084 Closing Credit*
$765,000
1,144 SqFt
3 Beds
•2 Full Baths
Jose Orellana Morales, Listing Office: Citiwide Realty Group
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 November 2023
Since last year, Lake View Terrace has remained a Seller's Market.
Key Takeaway
Lake View Terrace is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake View Terrace, CA
How much do homes in Lake View Terrace, CA cost?
Median Sold Price
$962,000
$533/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$129,500(+15.6%)
Key Takeaway
Homes in Lake View Terrace have sold for 15.6% more than they did a year ago.
Summary: The median home sold price in Lake View Terrace was $962,000 in November 2024, up 15.6% from last year, and the median price per square foot was $533.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $610K | - | N/A |
| 2 Bedrooms | $555K | $526K | -5.2% |
| 3 Bedrooms | $834.1K | $967.5K | +16.0% |
| 4 Bedrooms | $860K | $962K | +11.9% |
| 5+ Bedrooms | $943.5K | $1.0M | +6.4% |
Summary: Lake View Terrace housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 16%, 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 | $832.5K | $962K | +15.6% |
| The San Fernando Valley | $877K | $935.4K | +6.7% |
| Sunland | $815K | $859.9K | +5.5% |
| Shadow Hills | $1.0M | $1.0M | +4.4% |
| 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The Lake View Terrace real estate market had 25 homes for sale in November 2024, a 13.6% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lake View Terrace housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 42.9%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake View Terrace, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Lake View Terrace in November 2024, up by 166.7% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 26 Days | +66.7% |
Summary: Homes in Lake View Terrace had an average of 26 days on market in Nov 2024, up by 66.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were 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 November 2024, 8 homes were sold in Lake View Terrace; 50% of homes were sold within 30 days, 50% 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.