Los Angeles County Homes for Sale: Everything’s Up in the San Gabriel Valley
Feb. 15, 2016
Brandywine Homes – Lotus Court in Monrovia
It’s a given that our Los Angeles County homes for sale will have the space and amenities that you’re looking for. But a beautiful home may not be enough reason to move to a new city, particularly if you live near the place where you and your family are currently employed. You want to be sure that the economy in the area you want to move to is strong.
The good news is that the economy in the San Gabriel Valley is excellent with employment and home prices in Arcadia and Monrovia are looking very good. This is according to the 2015 San Gabriel Forecast and Regional Overview put out by the San Gabriel Valley Economic Partnership.
Jobs
Although jobs in the valley are down by 2.8 percent from the pre-recession peak of 2008, they are up by 1.7 percent from 2013 to 2014. The number of positions is also forecast to increase to 676,334 in 2016 from 665,840 in 2015.
In 2013, the average wage in the San Gabriel Valley was $45,348 a year. In terms of individual industries, these were the average wages in the valley for 2013:
- Financial Activities: $68,797
- Information: $67,993
- Transportation and Utilities: $60,889
- Professional and Business Services: $58,893
- Construction: $58,500
Unemployment for 2014 in Arcadia was 4.8 percent and in Monrovia, it was 6.4 percent.
Industries
The most influential industries in the valley are health care, higher education, international trade, manufacturing, professional and business services, retail trade, and tourism. Arguably the one driving the local economy the most is health care, where employment is expected to increase throughout 2016 and beyond. Driving this trend is an aging population that is living longer and healthcare reform, which is allowing more access to health care.
Higher Education
If you or members of your family want to pursue a higher education, the San Gabriel Valley offers several options. Major four-year institutions include the California Institute of Technology (Caltech), Azusa Pacific University, the University of La Verne, the Claremont Colleges, and California State University Los Angeles.
Three community colleges include Mt. San Antonio College, Pasadena City College, and Citrus College. One school with an international rep for automotive design, among other disciplines, is the Art Center College of Design in Pasadena.
Homes
According to Trulia, the median sales price of a home in Arcadia increased by 2 percent to $988,000 from October 2015 to January 2016. In Monrovia, median sales prices increased by 7.5 percent from October 2015 to January 2016.
If you want to know more about living and working in the San Gabriel Valley or want to tour our Los Angeles County homes for sale in Arcadia or Monrovia, please contact us.
