Alhambra’s market took a hard tumble, hitting rock bottom in 2008. The area’s once valuable houses hit an average low of $421,000, and things didn’t start getting better until 2013. When the market started to get its value back, it didn’t stop.
Values are much closer to $600,000 now, and they’re projected to reach or exceed that number. That level of recovery is excellent, and homeowners can take comfort in the fact that the value turnarounds are sustainable.
Part of the reason houses in Alhambra can command such a high value is that the buyers are there. The market in Alhambra is very hot, and hot markets always work to the advantage of sellers.
The market is healthy enough to sustain itself, and foreclosures are relatively rare when compared to the Los Angeles / Long Beach / Anaheim metropolitan area. On the surface, everything seems great. Although 8.5% of homes sell at a price cut, they’re still selling.
It’s never a bad time to sell in Alhambra, as long as you have the kind of property that the average buyer wants. Modernized houses in great shape don’t sit on the market very long, and there are plenty of them in Alhambra.
If your property isn’t selling as quickly as the properties up the block, this could be a legitimate reason to worry. If your house doesn’t fit the bill in the eyes of most buyers, you’re going to have to wait until all of the great properties are off the market – and there’s no telling how long that may take.