The Week in Real Estate saw a steadier supply yet mixed demand across California and the Mid Valley. According to the California Association of REALTORS®, daily averages for the week ending Aug. 23 included 502 closed sales, 573 pending sales and 672 new listings. These figures point to a modest rebound in inventory after months of tight conditions. The share of REALTORS® closing a sale ticked down to 23.7 percent, while those entering escrow rose to 23.2 percent, up 9.4 percent from the prior quarter. New listings activity eased to 27.3 percent, down 6.6 percent. Looking ahead, 14.4 percent of REALTORS® expect sales to rise, 7.5 percent foresee price gains and 44.8 percent predict more listings, though all three readings dipped from last quarter’s optimism.
This Week’s Statewide Real Estate Snapshot
Statewide, closed sales remained near recent averages, reinforcing a stable market. Pending sales growth suggests buyers remain committed despite higher rates. New listings per day climbed back above 650 for the first time in eight weeks, offering relief to shoppers struggling with scarce options. “We are seeing more sellers test the market,” said CAR economist Leslie Appleton-Young. “Yet buyers are cautious as rates remain elevated.” The mix of stronger listing activity and sustained closings could balance market pressure by year-end. CAR data are available online at California Association of REALTORS®.
Mid Valley Real Estate Market Highlights
Local reports show varied trends across El Monte, Arcadia, Temple City and Baldwin Park. El Monte recorded eight single-family closings in July at a median price of $822,000, matching July 2024 and earning 103.1 percent of list price. The average days on market held at 16, with 26.5 percent of listings cutting prices, up 54.5 percent year over year.
Arcadia’s market saw 23 closings at a median of $1.76 million, unchanged from last July. Sellers realized 97.9 percent of list price after 35 days on market. Active listings stood at 90, with 31.1 percent reducing prices, mirroring last year’s pace.
Temple City delivered the week’s strongest gain. Ten closings at a median $1.23 million marked a 42.9 percent increase from July 2024. Homes fetched 103.9 percent of list price and spent 30 days on market. Price reductions occurred on 11.5 percent of listings, a 44.4 percent jump from a year earlier.
Baldwin Park recorded five closings at a median $770,000, down 44.4 percent year over year. Sellers earned 98.9 percent of list price after 21 days on market. Only 26.7 percent of listings cut prices, down 16.7 percent from July 2024.
Mid Valley Real Estate Outlook Ahead
Mixed local results suggest a transition phase. El Monte and Temple City benefit from tight supply and strong demand. Arcadia remains balanced, with sellers adjusting expectations to attract buyers. Baldwin Park’s price correction may offer entry opportunities for first-time buyers. Statewide forecasts point to modest gains in sales and listings, though price growth could moderate if rates stay high.
Market experts advise sellers to price competitively. Buyers should monitor inventory and act swiftly when new listings appear. For full statewide data and weekly updates, visit the California Association of REALTORS® at www.car.org.
