Porter Ranch Housing Market Overview
Looking to buy or sell a home in Porter Ranch, Los Angeles? At Mel Wilson
Real Estate, we believe in finding you the perfect home that matches your lifestyle-just ask our delighted clients! If you’re looking to move to Porter Ranch or any other surrounding areas within Los Angeles County, our team of real estate experts has all the information you need to make your real estate purchase and move/relocation as seamless as possible. For potential buyers researching the Porter Ranch real estate
, we’ve compiled all of the trends and statistics you need to inform your decision. Keep reading to learn more about the Porter Ranch housing market
Latest Updates: February, 2020
How Are The Real Estate Prices Ruling Today in Porter Ranch, Los Angeles CA?
In January 2020 the real estate prices in Porter Ranch, CA is at a balanced position, which means there is a healthy balance of buyers and sellers in the market. Let's have a quick look at the current market figures in Porter Ranch.
- Median List Price$970K
- Median List Price Per Sq.Ft.$651
- Average Monthly Rent$3,250
- Median Sale Price$862K
What are the Porter Ranch Housing Market Projections 2020-2021?
The growth of Porter Ranch’s real estate market has been quite impressive over the past two years, and the trend is likely to continue over the next two to three years. Porter Ranch home values have gone upward by 2.6% over the past year and the current home value in Porter Ranch is $815K. Based on our forecasts, the home values in Porter Ranch will rise 4.2% within the next year 2021 and the price of an average home will be $848K by 2021.
Porter Ranch Real Estate Market 2019 Insights and Statistics
Currently, the real estate market in Porter Ranch is experiencing noticeable growth, making it a somewhat competitive market. Here is a current snapshot of the local real estate market trends:
- Multiple offers on a single home are common.
- Typically, homes will sell 1% less than the list price and go pending in an average of 38 days.
- Hotter homes can sell 1% above the list price and go pending in an average of 17 days.
- On average, Porter Ranch homes will sell 0.8% below the list price.
- Homes generally remain on the market for 38 days.
- The average down payment on a new home in Porter Ranch is 9.9% of the list price.
- There are currently 57 active listings within the Porter Ranch area.
Porter Ranch Home Prices + Home Values 2019-2020
According to Los Angeles real estate experts, the Porter Ranch market is very hot for sellers for the remainder of 2019 and as we head into the year 2020. Check out some more statistics about home prices and home values in this area!
- Median Home Value$792,700
- Home Value Growth 20190.8%
- Home Value Growth 2020-0.3%
- Median List Price Per Sq. Ft.$357
- Median List Price: $909,000
- Median Sale Price $778,600
- Price Cut Listings 15.2%
Porter Ranch Rental Market Analysis
If you’re a property investor looking to expand into the Porter Ranch rental market, here is some key data within this sector.
- Average Monthly Rent$3,633
- Breakeven Horizon4.3 Years
- Average Rental List Price$3,400
- Average Rental List Price Per Sq. Ft.$1.76
Compare Porter Ranch Real Estate To Surrounding Areas
For comparative analysis, we’ve included the average home values of Porter Ranch’s surrounding neighborhoods and cities!
- Northridge $676,300
- Chatsworth $613,700
- Granada Hills $591,300
- North Hills $546,400
- Lake Balboa $546,200
- Winnetka $527,400
- Reseda $493,700
- Newhall $488,500
- Canoga Park $487,900
Porter Ranch Demographics
To get a better idea about the Porter Ranch area and your potential neighbors, here is some key data pertaining to the demographics of this Los Angeles suburb.
- Population 29,607
- Master’s Degree Or Higher22%
- Bachelor’s Degree 35%
- Associate’s Degree Or Some College 22%
- White/Non-Hispanic 35%
- Asian 30%
- Hispanic 12%
- African American 3%
- Age 10 Years Old Or Younger 9%
- Age 10-17 Years Old 11%
- Age 18-24 Years Old 7%
- Age 25-34 Years Old8%
- Age 35-44 Years Old 12%
- Age 45-54 Years Old 16%
- Age 55-64 Years Old16%
- Age 65 Years Or Older 21%
- Median Household Income $120,864
- $25,000 Or Less Income 7%
- $25,000-$44,000 Income 7%
- $45,000-$74,000 Income 15%
- $75,000-$149,000 Income36%
- $150,000 Or Higher Income 36%
Popular Neighborhoods In Porter Ranch
Even in such a small Los Angeles suburb, it’s important to find your niche. Here is some more detailed information about the most popular neighborhoods
in the Porter Ranch area!
Porter Ranch Estates:
- 7,968 Residents
- 83% Homeowners
- Average Age 53 Years Old
- 3,315 Residents
- 92% Homeowners
- Average Age 55 Years Old
- 7,816 Residents
- 73% Homeowners
- Average Age 51 Years Old
- 5,259 Residents
- 89% Homeowners
- Average Age 56 Years Old
Homes For Sale In Porter Ranch
Nestled in the Northwest corner of the San Fernando Valley, Porter Ranch is a small, upscale neighborhood within the expansive Los Angeles County. To view listings for new homes for sale in the Porter Ranch area, click here
Porter Ranch Luxury Real Estate
Looking for your new luxury abode in Porter Ranch? Click here
to see listings for upscale real estate in this area.
Your Go-To Porter Ranch Real Estate Expert
Do you have any additional questions about the Porter Ranch real estate market and/or what it’s like to live in this beautiful Los Angeles suburb? Mel Wilson Real Estate is here to answer any inquiries and offer additional insight. Just call our office at 818.993.4606
Porter Ranch Frequently Asked Questions (FAQ)
Before embarking on your home search in Porter Ranch, you might have some initial questions. For your convenience, we’ve included some of the questions we receive the most from our valued clients when it comes to investing in real estate in this area. Cheers!
» Is Porter Ranch a nice place to live?
Indeed, Porter Ranch is one of the best places to live in Los Angeles County and California at large. Offering seclusion and proximity to urban life, the majority of residents here own their homes, and it is a popular place for retirees to settle down.
» How far is Porter Ranch from the City of Los Angeles?
Porter Ranch is just 23 miles away from the city limits of Los Angeles, easily accessed via the 101 Freeway.
» How did Porter Ranch get its name?
Porter Ranch was named after the secularized Mission San Fernando Rey de España
, which was referred to as an ex-Mission because of a division made among the lands held in the name of the Mission. The grant encompassed most of the present day San Fernando Valley.
» How far is Porter Ranch from Woodland Hills?
Porter Ranch is just 8 miles away from the L.A. suburb of Woodland Hills!