Cerritos Market Beat

October 7, 2020

k

By Saeed Ghaffari

What About Cerritos? 

History & Attractions:

Cerritos (Spanish for little hills), known as Dairy Valley (1956-1967), is a city in Los Angeles CountyCalifornia, United States, and is one of several cities that constitute the Gateway Cities of southeast Los Angeles County. It was incorporated on April 24, 1956.

 Population as of April 2019: 49,859 with a median age of 45.

The median income for Cerritos residents hovers around $90,613

 Attractions:

 Aside from being with close proximity to all the So Cal beaches and the amenities in Los Angeles and Hollywood, there are many attractions within Cerritos city limits.  Below is a handful of most popular ones among many.

  • Cerritos Center for Performing Arts
  • Heritage Park
  • Iron-wood nine golf course
  • Cerritos Sculpture Garden
  • Cerritos Sports Complex

Schools:

School ratings are an important factor for people with school age children in the location of their residence.  Cerritos has 38 schools (elementary, middle and high school). Their ratings are all over the map, with a some over 8 and three of them with rating of 10, Cerritos High, Whitney High and Middle School.

 

Cerritos Real Estate

 

Home appreciation the last 10 years has been 24.9%. Home Appreciation in Cerritos (zip 90703) is up 4.7%.

Average Age of Homes

– The median age of Cerritos (zip 90703) real estate is 44 years old

The Rental Market in Cerritos (zip 90703)

– Renters make up 19.0% of the Cerritos (zip 90703) population
– 1.8% of houses and apartments in Cerritos (zip 90703), are available to rent

 

As of today, September 29, 2020, the market action index is at 76 for both condominiums and single family residences, a very strong seller market and it appears to have improved last month in favor of the sellers.

Single Family Residences

Condominiums

Cerritos RE Stats:

 

  Single Family Residence Condominium
Median Price $915,000 $507,450
Price Per Square Foot $448 $414
Median Rent $3610 (3 bedrooms) $2665 (2 bedrooms)

 

Sources: Altos.re, bestplaces.net, greatschools.org & Wikipedia

You Deserve 100% Commission

Learn about our 100$ Commitment to 100%  Commission

Gold Sponsor of M&M

Order your NHD Report  on M&M

Call Us Today

714 469 5529

M&M NEWS

Related Articles

So Cal Real Estate Market Beat

The new listings surged back up from last week all across So Cal, with increases ranging from 4.94% in San Diego to as high as 7.7% in Riverside. We also added Ventura County to our report as it is one of the smallest counties in the So Cal region.   The closings...

What’s Going On With The Economy?

One way to gauge the state and the direction of the economy is by watching the mortgage lenders’ lending attitude.  When the economy takes a hit, lenders pull back, tighten their lending guidelines and take a more conservative approach to lending. When it is going...

The pros & Cons of Homeowner Association

It seems as if the homeowner associations are a trend across the country.  According to the U.S. census bureau, 59% of the newly constructed homes in 2014 were built with an association in place and the number is growing.  Homeowner Associations offer many benefits to...