Economic Profile - City of Cerritos

HousingMedian Home Sales Price—CondominiumsCondominiums have a niche in housing between renting and owning single-family homes. The median homesale price in Cerritos for condominiums experienced an increase in value from a low of $272,000 in March of2009 to approximately $363,000 in March of 2010. The median price for a condo in Cerritos is higher thanthe median price of $303,000 for Los Angeles County and the median price of Orange County at $300,000.Median Home Sale Prices - Condominiums$450,000$400,000$350,000$300,000$250,000$200,000$150,000Los AngelesCounty:$303,000Cerritos: $363,000OrangeCounty:$300,000$100,000$50,000$0March 2009April 2009May 2009June 2009July 2009August 2009September 2009October 2009November 2009December 2009January 2010February 2010March 2010Total Monthly SalesCondominiums play a relatively small factor in Cerritos’ housing market, as the majority of the housing stockin Cerritos is zoned single-family residential. For example, in March 2010, a total of twelve (12)condominiums were sold, and in comparison, twenty-five (25) single-family homes were sold during the samemonth.35302520151050March 2009Source: DataQuickLegend: Cerritos OrangeCounty189April 200915Cerritos Economic Profile - Spring 2010287 6May 2009June 20093310July 20092315August 200920September 2009188 8 8October 200923 23November 20099December 2009218January 2010176February 2010194March 2010Los AngelesCounty2512Single-Family HomesCondominiums25