Real Estate Market Report
La Canada Flintridge, CA July, 2009
Market Index 0.43, up 11 points!
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 is at 0.43 up .11 from last month's 0.32 and last year's 0.23.
New Listings - 21, up from 17 last month and last year's 26.
Pending Listings - 15 listings opened escrow, equal to 15 last month. Last year 8 properties sold.
Pending Ratio - At 0.71, down from 0.88 last month. A year ago it was 0.48.
Listing Inventory - 94 properties, down from 111 homes last month and down from 106 last year.
Sold Listings - 25 homes sold, up from 20 last month. Last year 27 homes sold.
Absorption Rate - 3.8 months down from last month's rate of 5.6 months. In 2008 it was 6.2 months.
Average Sales Price - $1,514,720 up from last months $1,430,475- and down from 5.86% last year.
Price per square foot - $441.48, down from last month's $499.47 and down 24.4% to last year.
Conclusions
The Market Index continues to climb. Unit sales are strong, so demand is slowly outpacing inventory. Prices are beginning to show signs of stabilizing.
For buyers - if you have been waiting on the sidelines, now might be the time to jump in the game.
For sellers - properly preparing your home for sale is the key to getting the best price. Ask for our Highest Property Value Audit to find out how to maximize your profit (or minimize your loss) when you well.
Keith Sorem Realtor DRE #01374635
Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change
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