2019’s high sale of the year goes to 719 Maryland which was a new construction 5 bedroom, 3300* single family home in the heart of the community. Sitting on a nice sized lot of almost 6500 feet the home had a spacious backyard and the location was ideal with a real community/neighbhrood feel.
El Segundo saw a slow down in home sales for the month of September with only 6 closed sales. All but one exceeded the $1,000,000 mark with the highest sale of the month being a 4 bedroom home at 1209 E Maple and the lowest of the month being $525,000 for a 2 bedroom condo in Pacific Sands.To see more than just September and to get a sense of the real estate market over the past year, see the El Segundo real estate trends and statistics page.
It’s no real secret that good schools help drive real estate values in certain neighborhoods and communities. That is certainly the case in El Segundo.
Buyers with kids want to be in areas with good schools and that higher demand helps keep values up. El Segundo schools are highly ranked and this award winning school district makes a big difference in the real estate market. Even those without kids greatly benefit from a strong school system. The stronger the schools the more insulated a market is from any downturns. That was very evident in El Segund when home prices drop during the recession and housing crisis, but only a very small amount compared with other local areas that do not have as strong a school system.
A recent CAR study showed that 47% of home buyers said good schools were very importan, 23% said that they were somewhat important, 11% said not very important and 19% said that it was not important at all.
The 19% may not realize just how much of an influence schools play on values and demand. Good elementary schools are often part of a good community and without question most buyers would like to live in a good community.
The study also conclued that 43% of consumers age 34 or under believe highly rated schools are very important. 58% of consumers earning more than $100,000 a year think that highly rated schools are very important.
We’ve seen a very solid real estate market in El Segundo thus far in 2019. Well priced homes are still selling but there has been a bit of a slow down in the market since the beginning of the year. We anticipate that the market will heat up a bit as we head towards summer and the weather warms up a bit.
Here are some of the 1st quarter numbers from January 1 – April 18:
38 home sales in El Segundo
Average Days on Market: 50
Median Sales Price: $1,207,000
Average Price Per Foot: $669
27 Homes in El Segundo currently in escrow (as of 4/18/19)
What’s in a home value? It’s common knowledge that location, schools, safety and comparable properties are some of the main items that impact a home’s value. But there are other, smaller factors that also influence a homes value.
El Segundo saw a pretty typical and solid month finishing out 2017. The median home price was $966,000 which was a slight drop from $985,000 in December of 2016. There were 11 homes sold during the month which is slightly lower than normal but not unusal for December. Click here to see the current homes for sale in El Segundo or view our recent home sales in El Segundo