Economic Profile - City of Cerritos

HousingMedian Home Sales Price—Single Family ResidentialIn Cerritos, the median home price has declined from a high of $674,417 in 2007 to $540,000 in March of2010. This decline in the median sale price of single-family homes is in correlation with the current housingcrisis nationwide. However, the median price for a home in Cerritos experienced a lower rate of decline incomparison to the median home sales price in Orange County and Los Angeles County. As of March 2010,the median home sales price in Orange County was approximately $515,000 and in Los Angeles County themedian home sales price was $332,000.Median Home Sale Prices - Single-Family Residential (SFR)$700,000$600,000$500,000$400,000$300,000$200,000Cerritos: $540,000Orange County: $515,000LA County: $332,000$100,000$0March 2009April 2009May 2009June 2009July 2009August 2009September 2009October 2009November 2009December 2009January 2010February 2010March 2010Median Home Sales Price Per Square Foot—Single Family ResidentialThe median home sale price per square foot is higher in Cerritos as compared to Orange County andLos Angeles County. In Cerritos, the median home sale price per square foot for a single-family home is$338. This is higher than both Orange County ($291) and Los Angeles County ($238), and is an indicatorthat homes in Cerritos are maintaining their value.Median Home Sale Price Per Square Foot - Single-Family Residential (SFR)$400$350Cerritos: $338$300$250Orange County: $291$200$150LA County: $238$100$50$0March 2009April 2009May 2009June 2009July 2009August 2009September 2009October 2009November 2009December 2009January 2010February 2010March 2010Legend:CerritosSource: DataQuickOrangeLos AngelesCerritos Economic Profile - Spring 201024