Diamond Bar Home Prices Still Up!

Nef Cortez

By Nef Cortez

Home prices of those transferring ownership in Diamond Bar during the second quarter of 2017 maintained the high levels reached in the first quarter.  These prices maintain historically high levels not seen since the housing market peak of 2006. Including single family residences (SFR), townhomes, and condominiums, the current median sales price of homes in Diamond Bar (according to Zillow-a data aggregator), is $641,000. According to the Multiple Listing Service (MLS), a more accurate database maintained by the local realtor groups, the median sales price of all sales in the second quarter of 2017 for Diamond Bar was $625,000.  The Median Sales price of single family residence (SFR) sales only in Diamond Bar for the second quarter of 2017 was $715,000. The median sales price for a SFR in Diamond Bar, as a comparison was $657,000 in the second quarter of 2016. This represents an annual median sales price increase of 8.8 %! That is a substantial gain!

The median sales price for condominiums and townhomes in Diamond Bar for the second quarter of 2017 was $360,000. In comparison, the median sales price for this type of housing stock in 2016 was $349,000 which represents an annual increase of $11,000 (a little over 3% annual increase).

Home prices in the US have continued their steady rise after the dramatic drop in 2007-2008 fiscal year.  Nationally, the expansion in home prices has continued since the low point of $152,000 reached at the end of the first quarter of 2012. Although it has suffered some fits and starts through the 8 year dip and then ascension, the national median price has increased in that period of time by a strong 29 %.

It is evident that the housing market in Diamond Bar continues to increase, and is proving to be a boon to Homebuyers!

This article was written by Nef Cortez who is a licensed Real Estate Broker, Ca BRE # 00560181, licensed since 1976. He can be reached via e-mail at nefcortez@gmail.com, or website www.nefcortez.com. Please feel free to email any questions regarding real estate.