Real Estate Market Report
La Crescenta, CA March, 2009
Market Index
A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.
The Market Index spiked to a 0.49 from last months drop to 0.25 - the closest was 0.46in March of 2006. A year ago it was 0.18.
New Listings - 31 new listings, up from 25 last month. Last year there were 51.
Pending Listings - 24 listings entered escrow compared to 16 last month, and 9 last year.
Peding Ratio - 0.77, up from last month's 0.60. Last year the ratio was 0.18.
Listing Inventory -93 properties, even with last month. Last year we had 152 listings on the market.
Sold Listings - 22 listings sold, versus 19 listings last month, compared to 18 the year before.
Days On Market - 93, compared to 53 last month and 85 last year.
Average Sales Price - $607,763 down from last months $622,738, and about even with last year's $600,34 2. The average sales price has remained pretty even for almost an entire year. Note that the average SIZE of home sold has shifted from 1,593 square feet to 1,756.
Price per square foot -$346.11, down from last month's $356.93, and down 8.2% compared to last year.
ConclusionsFewer new listings, lower listing inventory, how much lower will prices go before that start heading back up? Take advantage of the $8,000 federal tax credit. If you buy a home, maybe another $10,000 if you buy a new home.
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Data from Itech and SRAR MLS has not been verified, is ot guaranteed, and is subject to change. |
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