Lomita, CA Real Estate Home Values Trends

In case you want to own/rent a home in Lomita, CA, RTI Properties Inc, Property Management Company has some real estate market trends for you.

Lomita, CA Home Values Trends*:

Housing trends in Lomita show an increase of 5.1 % in prices of median home sales price over the past year. The prediction is that it will further rise to 4.4 % within the next year. In October, the median Homes Sales rate is $ 422 per square foot with price as $ 671,000, The median price of homes in Lomita is $ 667,500 for homes currently listed, while median rent of sold is $ 587,300. Foreclosures shall remain an issue in changing home prices in the coming years. Hot homes can sell within ten days. In October, 2018 the housing market in Lomita, CA has been a seller’s market, which means more buyers than active homes for sale. Seller’s markets are generally more advantageous for sellers rather than buyers.

Foreclosed Homeowners Underwater in Lomita, CA:

2008’s Bubble impact brought down home values in the United States by 20% from their peak in 2007 to the lowest in 2011. In Lomita, 1.9% are delinquent mortgages which are more than the national average of 1.1%. Many homeowners failed to pay back mortgage loans to financial companies. Many homeowners (4.4%) are under trouble since they owe to financial institutions more than the present value of their home.

Rental Market Trends** in Lomita, CA:

Rental trends indicate an increase in median rent by 6% from last year. The median home rent per month is $2,200 In Lomita,.The average rent for an apartment is $1,454 ( 711 sq. ft. average size) per month, 4% higher than the previous year when the average rent was $1,403.The average rent of Studio ( 400 sq. ft. average size) apartment is $ 800, 1- bedroom (622 sq. ft. average size) apartment at an average $1,371 a month, 2- bedroom( 895 sq. ft. average size) apartment at an average rent of $1,786a month & 3-bedroom ( 1,094 sq. ft. average size) apartment at an average rent of $2,065 The average apartment rent in Lomita has gone higher by $177 (11.3%) over last six months however one bedroom decreased by $24 (-2%) and two bedroom apartments enhanced by $85 (4.8%).

One can avail the services of a Lomita Property Management Company for searching the suitable rental property for him.