Is Lake View Terrace, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake View Terrace is a neutral'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

# BEDSOct 2023Oct 2024CHANGE
1 -$610K
N/A
2 $510K$545K
+6.9%
3 $805K$970K
+20.5%
4 $860K$962K
+11.9%
5+ $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
+15.9%
Shadow Hills
+8.4%
The San Fernando Valley
+7.7%
Sunland
+6.0%
Sylmar
+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 2024Oct 2024CHANGE
2421-12.5%

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

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 34
+33.3%
4 129
-25.0%
5+ 66
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 2024Oct 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
16 Days22 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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