Monterey Park Housing Market & Area Information Stacy Pearson, September 7, 2023 Monterey Park Median Listing Price Monterey Park, CA is a sought-after seller’s market, boasting great schools and an abundance of amenities. With a median listing home price of $894.1K in July 2023, homes in Monterey Park are selling for an average of 1.84% above asking price due to high demand. The city offers top-rated public schools and a range of amenities, including grocery stores, cafes, and restaurants. Additionally, nearby locations such as Pasadena and Glendale provide various housing options. This article explores the real estate highlights, market trends, schools, amenities, and nearby locations in Monterey Park, CA. Real Estate Highlights in Monterey Park, CA The median listing home price in Monterey Park, CA was $894.1K in July 2023, remaining flat year-over-year. This indicates that the housing market in Monterey Park has maintained stability in terms of prices. For potential homebuyers, this could be seen as a positive aspect in terms of housing affordability. The steady median listing price provides an opportunity for individuals looking to invest in real estate in the area. With prices remaining consistent, investors can have confidence in the market and consider Monterey Park as a viable option for their investment. Overall, the flat year-over-year median listing home price in Monterey Park showcases the stability of the housing market and highlights the potential real estate investment opportunities available in the area. Housing Market Trends in Monterey Park, CA Homes in Monterey Park, CA sell, on average, after 29 days on the market. This indicates a relatively fast-paced housing market in the area. The trend for median days on the market has decreased slightly since last year, suggesting that homes are being sold more quickly. This can have an impact on the local economy. With homes selling faster, it can lead to an increase in real estate transactions and stimulate economic activity in the area. Additionally, trends in home prices play a significant role in the local economy. The median listing home price in Monterey Park, CA was $894.1K in July 2023, remaining flat year-over-year. This stability in home prices can contribute to a sense of confidence among buyers and sellers, supporting a healthy real estate market in Monterey Park. Top-rated Schools in Monterey Park, CA Public schools in Monterey Park, CA have received top ratings from GreatSchools. These top-rated schools in Monterey Park, CA have consistently demonstrated strong academic performance. GreatSchools ratings are based on various indicators of school quality, including test scores, college readiness, and equity data. Parents and students can have confidence in the quality of education provided by these schools. The high ratings reflect the dedication and hard work of the educators and staff in delivering a well-rounded education to students in Monterey Park, CA. With a focus on academic excellence, these top-rated schools are preparing students for future success. Families in Monterey Park, CA can take pride in the quality of education available to their children in the local public schools. Abundant Amenities in Monterey Park, CA Dozens of grocery stores and hundreds of cafes and restaurants can be found in the vibrant city of Monterey Park, offering residents a wide range of options for dining and shopping. However, the amenities in Monterey Park extend beyond just food and retail. For those who enjoy spending time outdoors, exploring local parks is a popular activity. Monterey Park is home to several beautiful parks, such as Barnes Park and Sequoia Park, where visitors can enjoy walking trails, picnic areas, and playgrounds. Additionally, for fitness enthusiasts, exploring local gyms is a great way to stay active and maintain a healthy lifestyle. The city has a variety of gyms and fitness centers that offer state-of-the-art equipment, group classes, and personal training services. Whether you’re looking to enjoy nature or break a sweat, Monterey Park has plenty of amenities to cater to your needs. Grocery Stores and Restaurants in Monterey Park, CA In Monterey Park, residents have a wide array of options when it comes to dining and grocery shopping, with numerous grocery stores and a diverse selection of restaurants available. When it comes to grocery store options, residents can choose from several establishments, including Smart & Final Extra! This grocery store offers a variety of fresh produce, pantry staples, and household items. In addition to grocery stores, Monterey Park also boasts a vibrant dining scene. From Asian cuisine to American classics, residents can find a restaurant to suit their taste buds. Whether they’re in the mood for sushi, dim sum, or a juicy burger, there’s something for everyone in Monterey Park. With such a range of grocery store options and dining options, residents can easily find everything they need for their culinary endeavors. Rental Options in Monterey Park, CA Residents of Monterey Park have a range of rental options available, with prices ranging from $940 to $5.3K per month. A rental market analysis shows that Monterey Park offers affordable rental options for individuals and families. Affordability factors, such as the range of prices and the variety of rental properties, make Monterey Park an attractive choice for those looking to rent. The rental market in Monterey Park is diverse, with options including apartments, townhouses, and single-family homes. This provides renters with a range of choices to suit their needs and preferences. Additionally, the rental market in Monterey Park is competitive, with a high demand for rental properties. It is advisable for prospective renters to act quickly and be prepared to provide necessary documents and references when applying for a rental property in Monterey Park. Nearby Locations With Comparable Real Estate Markets With a median listing home price of $2.7M, nearby location 90027 offers a real estate market comparable to Monterey Park. When exploring neighboring markets, it is important to compare school ratings as they play a significant role in the desirability of an area. In terms of school ratings, Monterey Park, CA hosts public schools that are rated good and higher by GreatSchools. These ratings are based on a variety of school quality indicators, including test scores, college readiness, and equity data. When considering 90027 as an alternative location, it is crucial to research and evaluate the school ratings in that area as well. This information will provide a comprehensive understanding of the education opportunities available in both Monterey Park and 90027, helping potential buyers make informed decisions about their real estate choices. Median Listing Home Prices in Nearby Locations 90027, a nearby location, has a median listing home price of $2.7M. This indicates a higher price range compared to Monterey Park, CA. The current housing market in Monterey Park is competitive, with more buyers than available homes. This can impact housing affordability in the area. However, it’s important to note that the median listing home price in Monterey Park, CA was $894.1K in July 2023, which remained flat year-over-year. Despite the competitive market, there are still opportunities for homebuyers in Monterey Park. It is advisable for potential buyers to work closely with a real estate agent to navigate this market and find suitable housing options within their budget. Homes for Sale and Rent in Nearby Locations Moving on from the discussion of median listing home prices in nearby locations, let’s now explore the availability of homes for sale and rent in these nearby neighborhoods. In the 90027 area, there are currently 7,724 homes for sale and 12,168 homes for rent. Pasadena, on the other hand, has 300 homes for sale and 365 homes for rent, with a median listing home price of $1.2 million. In the 91754 area, there are $776.5K homes for sale and $651 homes for rent, with a median listing home price of $894.1K. Meanwhile, Glendale offers 188 homes for sale and 367 homes for rent, with a median listing home price of $1.2 million. Lastly, the 90065 area provides 158 homes for sale and 158 homes for rent, with a median listing home price of $1.2 million. These nearby neighborhoods offer a range of options for those looking to buy or rent a home. Exploring More Real Estate Opportunities in Monterey Park, CA The median listing home price in Monterey Park, CA remained flat year-over-year at $894.1K in July 2023. This indicates stability in the real estate market of Monterey Park. For investors exploring investment opportunities, it is important to consider the current state of the market. A real estate market analysis reveals that Monterey Park, CA is currently a seller’s market, meaning there are more buyers than available homes. This suggests that properties in Monterey Park have high demand, which can potentially lead to higher returns on investment. Additionally, the presence of good schools and abundant amenities in the area further enhances the desirability of investing in Monterey Park’s real estate market. Conducting thorough research and working with a knowledgeable real estate agent can help investors make informed decisions and maximize their investment potential in Monterey Park, CA. Blogging