Real Estate Market Report

Sunland - Tujunga - Shadow Hills                      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 moved up one point to 0.27 from 0.26.  

New Listings - 30 new listings hit the market, compared to 44 last month.  We had 60 new listings last year.

Pending Listings - 29 opened escrow versus 31 listings last month.  Last year we had 15 listings change to Pending status.

Pending Ratio -0.97, a nice jump from 0.70 last month.  Last year the ratio was 0.28.  

Listing Inventory - 183 properties on the market, even with last month, compared to 174 last year.

Units Sold - 21 homes closed, up from last month's 16 homes, versus 14 last year. 

Days On Market - 80, versus 105 last year.

Average Sale Price - $330,595, down from last month's $383,229, and a 33.7% drop from last year.   

Price Per Square Foot -$262.17, up from last month's $226.76, versus $313.90 last year.     

 Summary - Inventory is steady, pending sales are UP, and sales are UP.  Interest rates are falling, so I would say this market is finally beginning to show signs of a turnaround.

If you are thinking of selling call me so we can help you get the most for your home when you list it with me. If you are going to take advantage of the Stimulus bill and try to get you share of the $8,000 federal tax credit, maybe even the $10,000 for buying a new home, let's talk. 

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change