We are seeing a small dip in home prices in the Antelope Valley; however it is less than the national figure of 2.6% in 2010. Nationally reported 30% of mortgages are in trouble and could be facing foreclosures or selling short. Homeowners are looking to find ways around foreclosure and get out from under their homes. With more than one-third of all homes sold nationally at a loss in December of 2010 due to the up tick in short sales. We are seeing some of the same things in the Palmdale & Lancaster areas as well. Short sales are running around 42% of available inventory with more on the way we don’t see short sales slowing down for the next few years. As for bank owned homes (foreclosures), inventories are holding around 300 units and are being managed we believe by the banks who are trying to avoid any large price drop. If true this could stem the dip in price and could add upwards pressure to prices in the spring and summer buying season…
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Stop-foreclosure
| Monthend Numbers | |||||||||||||
| Jan '11 | Dec | Nov | Oct | Sep | Aug | July | June | May | April | March | Feb | Jan '10 | |
| Listed | 550 | 555 | 579 | 541 | 642 | 692 | 675 | 659 | 624 | 716 | 732 | 697 | 691 |
| Pending | 392 | 402 | 416 | 382 | 530 | 497 | 475 | 579 | 490 | 698 | 677 | 623 | 556 |
| Sold | 297 | 422 | 348 | 341 | 486 | 376 | 412 | 469 | 417 | 327 | 512 | 362 | 369 |
| % CHG Month over Month | |||||||||||||
| Listed | -0.9% | -4.3% | 6.6% | -18.7% | -7.8% | 2.5% | 2.4% | 5.3% | -14.7% | -2.2% | 4.8% | 0.9% | |
| Pending | -2.6% | -3.5% | 8.2% | -38.7% | 6.2% | 4.4% | -21.9% | 15.4% | -42.4% | 3.0% | 8.0% | 10.8% | |
| Sold | -42.1% | 17.5% | 2.0% | -42.5% | 22.6% | -9.6% | -13.8% | 11.1% | 21.6% | -56.6% | 29.3% | -1.9% | |
| % CHG Current Month over Same Month Last Year | |||||||||||||
| Listed | -25.6% | -7.7% | -30.6% | -21.8% | |||||||||
| Pending | -41.8% | -26.1% | -60.3% | -55.2% | |||||||||
| Sold | -24.2% | -22.5% | -62.4% | -61.0% |
| New Listings | 52 |
| Back on Market | 11 |
| Price Increases | 5 |
| Price Reductions | 31 |
| Pendings | 32 |
| Solds | 11 |
| Expireds | 2 |
| Inactives | 10 |
| Month to Date and Projected Opened Escrows* | |||
| Total Active | 2,035 | ||
| Total Active Core Area | 1,481 | ||
| Total Active REO's | 281 | 11 | Added |
| Total Short Sale | 646 | 7 | Added |
| Pending MTD/Projected | 133 | 414 | |
| Sold MTD/Projected | 76 | 236 | |
| Percent Sold Over List Price | 50.00% | ||
| Sold Last Month / % of Difference | 297 | -20.39% | |
| Last Year Month / % of Difference | 362 | -34.68% | |
| Active Listing Mix (Core) | |||
| REO % of TTL | 18.97% | ||
| Short Sale % of TTL | 43.62% | ||
| REO+SS % of TTL | 62.59% | ||
| Traditional Sale % of TTL | 37.41% |
Absorption Rate*
Current Month 4.6 Months
At Last Months Rate 6.7 Months
Historical High Active Listing - 5300+ Mid 2007 - Within the last 3 years our Low Active Listing were under 700 in Nov '09
Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you! Call us today. If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV
Janet O'Brian is a Certified Short Sales Specialist by the National Association of Realtors® (SFR) and is ready to help you with your situation please visit her web-site. She can Stop Foreclosures Now!
(Quick Mapping Links for Core Areas)
Palmdale
Lancaster
Ana
Verde
Ritter
Ranch
Quartz
Hill
Leona
Valley
Lake
Hughes
Lake
Elizabeth
*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping. All figures are Single Family Residential only.
Keller Williams Realty AV Ranked #1 in the Antelope Valley 661.733.0508 to list your home.
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