The San Gabriel Valley is an area with a deep history and many investments that have been made with the people of Pasadena and their future in mind. The valley has also seen exponential growth in recent years, especially with the increase in population growth. Our San Gabriel Valley real estate market report for 2021 shows that the real estate market is up in San Gabriel Valley Area.
The real estate market in San Gabriel has been in a positive cycle for the last 36 months and the trend is set to continue. Homes are selling faster than ever before with prices over $1 million at the median. Homes in the city of San Gabriel sell after 30 days on the market, 18% faster than last year.
The median list price of residences in San Gabriel, CA was $1,100,000 in October 2021, compared to $788,000 in 2020. Year-over-year, it increased by 39%.
In the next five years, San Gabriel real estate prices are expected to rise by 16%. According to economists, the constant, swiftly moving, and persistent change is due to rising family incomes and declining mortgage rates.
At present, the San Gabriel Valley region of Los Angeles, California is a seller’s market, which means more people are looking to purchase than houses available.
Continue reading this San Gabriel Valley real estate market report for everything you need to know about activities in the San Gabriel Valley real estate market.
Snapshot of Median San Gabriel Valley Home Values by Community
San Gabriel Valley area is a great place to live in part because of its wide range of affordable homes and proximity to the greater Los Angeles area. The San Gabriel Valley also sits near many major freeways, making commutes easier for everyone.
Here is a look at the median home values by the community in our San Gabriel Valley real estate market report.
- Median home value: $628,000
- 2022 forecast: Median value to increase by 2.9% versus the previous year
- The median list price per square foot: $371
- Median home value: $831,500
- 2022 forecast: Median value to increase by 2.2% versus the previous year
- The median list price per square foot: $411
- Median home value: $949,000
- 2022 forecast: Median value to increase by 2.8% versus the previous year
- The median list price per square foot: $473
- Median home value: $882,500
- 2022 forecast: Median value to increase by 2.7% versus the previous year
- The median list price per square foot: $462
- Median home value: $1,799,000
- 2022 forecast: Median value to increase by 2.9% versus the previous year
- The median list price per square foot: $470
- Median home value: $614,499
- 2022 forecast: Median value to increase by 2.8% versus the previous year
- The median list price per square foot: $421
Azusa, California
- Azusa is a community located in southwestern Los Angeles County, California, that borders the San Gabriel Mountains to the southwest.
- The community passes through Foothill Boulevard and Alosta Avenue, two of the city’s major thoroughfares.
- The median home value in Azusa is up 20.2% compared to last year reaching approximately $628,000.
- By 2022, the Azusa house market is expected to climb to 2.9% above 2020 levels.
- The median price per square foot for houses in Azusa, California is about $371.
- Many homes get multiple offers, some with waived contingencies.
- The typical home sells for roughly 4% above the asking price and takes 30 days to go pending.
- Houses that are in great demand might sell for 7% above the asking price and take around 12 days to go pending.
- In the last five years, the appreciation rates of houses in Azusa have also increased steadily, to around 5.51% each year.
- East Sierra Madre Avenue/North Nobhill Dive, North San Gabriel Canyon Road/West Sierra Madre Avenue, and Arrow Highway are some of the neighborhoods with higher appreciated homes in Azusa.
San Dimas, California
- San Dimas is a beautiful mountain community in the San Gabriel Mountains, located approximately 20 miles from Los Angeles.
- The city of San Dimas has a median home value of $831,500 which declined by 2% over the previous year.
- In 2022, the city’s predicted median house value is expected to rise to 2.2%.
- The price per square foot of San Dimas’ typical list of properties is estimated at $411.
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 3% above the list price and go pending in around 33 days.
- Houses in great demand can sell for about 7% above the list price and go pending in around 17 days.
- Although San Dimas has an ever-increasing number of houses, it has also maintained a consistent appreciation rate of 4.63% every year, comparable to its neighboring cities.
- The most valuable addresses in San Antonio are Viva Verde and Puente Avenue.
West Covina, California
- West Covina is a city in Los Angeles County, California. It’s located on the eastern side of the San Gabriel Valley and has been featured in several US television shows.
- While housing prices in West Covina are among the highest in the country, they do not compare to those of California’s most expensive communities.
- Covina has a median home value of $949,000 which is up 27% over the last year. In 2021, West Covina’s median house price is expected to increase by 2.8%.
- The median list price per square foot of homes in West Covina is $473, which is lower than the citywide average.
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 4% above the list price and go pending in around 28 days.
- House in demand can sell for about 9% above list price and go pending in around 11 days.
- The appreciation rates for this area have increased in the last ten years, with an annual rate of 5.12%.
Glendora, California
- Glendora is a medium-sized city in the eastern San Gabriel Valley, sandwiched between the San Gabriel Mountains and the South Hills.
- The typical home value in San Antonio is $882,500.
- Their current median home value shows an 8.1% increase from last year but is estimated to increase by 2.7% in 2022.
- Glendora properties are valued at $462 per square foot.
- Some homes get multiple offers.
- The average homes sell for about 3% above the list price and go pending in around 27 days.
- Houses in demand can sell for about 7% above the list price and go pending in around 12 days.
- Homes and real estate properties in Glendora have an outstanding 4.73% average for their annual appreciation rates.
Walnut, California
- In the eastern part of Los Angeles County is one of San Gabriel’s cities, Walnut.
- One of California’s highest-ranking cities, Walnut’s median home value, is priced at $756,606.
- Over the past year, Walnut city’s home values have increased by 4% and are predicted to increase by 2.9% this coming year.
- At $419, the median list price per square foot of Walnut properties is still lower than its nearby cities’ average.
- Some homes get multiple offers.
- The average homes sell for about 2% above the list price and go pending in around 26 days.
- Houses in demand can sell for about 8% above the list price and go pending in around 12 days.
- Walnut residents have enjoyed a 4.73% annual appreciation rate for their homes since the early 2000s.
Covina, California
- Covina is a city in the San Gabriel Valley surrounded by orange and grapefruit orchards. It is beautifully blanketed with orchards of both orange and grapefruit.
- The median home value in Covina is expected to be around $614,499 which has increased by 19.4% over the last year.
- Additionally, the city’s median home value is expected to increase to 2.8% this 2022.
- Covina properties’ median list price per square foot is just $421.
- Aspiring Covina homeowners can purchase homes that can enjoy an annual appreciation rate of 5.16%.
- Many properties receive numerous bids, some with contingencies waived.
- The typical house sells for around 4% above the asking price and is pending in around 31 days.
- Homes in high demand might sell for up to 8% above the list price and be put on hold for 11 days.
- Total appreciation for Covina properties has risen to 161.05% in the past 20 years.
Final Thoughts
In conclusion, the San Gabriel Valley real estate market report shows that San Gabriel Valley and its surrounding area has a median home value of $1,100,000 with appreciation rates averaging 5.57%.
Glendora’s market is heated with a median home value of $882,500 and annualized appreciation rates at 4.73%.
Walnut’s homes are as quiet as they come with the reported average of $756,606 with an expected 2.9% increase in 2022.
Covina properties have risen to only $614,499 with an average annual appreciation rate of 5.16%. Covina is also known for having one of California’s highest and most expensive real estate markets.
Because of the increasing home prices, particularly with the current appreciation rate, the Los Angeles real estate market is regarded as one of the best markets for investors and homeowners.
Experts anticipate that the housing market will continue to rise in 2022, even as Los Angeles County home values remain at an all-time high.
The real estate market in Los Angeles County, especially the San Gabriel Valley, is anticipated to remain modest throughout 2022, providing investors a benefit.
Within the United States, the market for real estate in Los Angeles holds the title of being one of the greatest long-term investments. However, not every real estate investor or buyer wants to buy in Los Angeles. With how costly and competitive the city’s real estate market is, not everyone will want to invest there.
The San Gabriel Valley real estate market is still relatively cheap now, and with the appreciation of these houses, they continue to be excellent investment prospects.
This is why purchasing in San Gabriel Valley properties when they are still reasonably priced and have yet to rise is preferable.
FAQs
How quickly do homes in San Gabriel, California sell?
Homes in San Gabriel, CA spent an average of 84 days on the market this month, 58 days last month, and 62 days last year.
Is San Gabriel, California’s real estate market booming?
There are currently no bidding wars. According to our San Gabriel Valley real estate market report, homes in San Gabriel CA have sold for close to the asking amount in the last three months.
Is San Gabriel, California safe?
San Gabriel has a lower rate of property and violent crime per 1000 population than 60% of the state’s cities.
In San Gabriel, CA, how are the supermarket delivery options?
Supermarkets in San Gabriel CA offer delivery. They also offer curbside pick-up. There are no grocery stores in the city of San Gabriel that require membership to shop.
What is the educational level in San Gabriel, California?
In San Gabriel, CA, the percentage of adults over 25 years old with a bachelor’s degree or higher is 24.7%. This is lower than 50% of all other Californian cities and lower than California’s average rate of 34% percent.
Is San Gabriel, California a good place to raise a family?
Most disadvantages to raising a family in San Gabriel, California, are one-sided. The pros outweigh the cons. There is plenty to do with children and many activities for them to participate in.
The weather is always nice and there are plenty of outdoor activities available such as hiking. The food diversity is wonderful and the school systems are good too.
