Real Estate Trends - Palmdale, Lancaster, June 6, 12
Are we in for a wild time this summer as inventory shrinks, prices are surly going to rise combined with low mortgage rates if you’re in the market to buy a home now is the time.
In Palmdale California we have only 225 Single Family Homes listed on our MLS, Lancaster 331.
These numbers should be alarming in many ways; first without enough homes available to buyers bidding wars are coming back, bad for buyers. Secondly builders should see this as a signal to start building new homes, but with the economy not growing as well as we would like we could see them slow to pull the trigger. Lastly sellers are still under water, selling short is 30% of the market. Add in bank owned homes, we are at 45% of the market which adds downwards pressure on prices. So prices are holding but just holding if the amount of available home continues to drop the real estate business could be in for big trouble.
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation…Short Sale Specialist
What Should You Do If You Learn that a Forged and/or Fraudulent Deed Has Been Recorded Against Your Real Property? CONSUMER ALERT
A short sale is an effective alternative to foreclosures when keeping you home is no longer an option. The bank wins something too, the homes remains occupied and helps to maintain stable communities, according to the Federal Housing Finance Agency (FHFA). And with the new Short Sales Timeline Requirements put out by Freddie & Fannie should be your first choice.
| Monthend Numbers | |||||||||||||
| May | Apr | Mar | Feb | Jan '12 | Dec | Nov | Oct | Sep | Aug | July | June | May | |
| Listed | 466 | 614 | 520 | 561 | 601 | 599 | 732 | 797 | 813 | 679 | 631 | 646 | 620 |
| Pending | 498 | 634 | 535 | 495 | 581 | 522 | 572 | 568 | 585 | 542 | 468 | 502 | 518 |
| Sold | 424 | 462 | 388 | 308 | 416 | 476 | 467 | 557 | 545 | 413 | 369 | 392 | 374 |
| % CHG Month over Month | |||||||||||||
| Listed | -31.8% | 15.3% | -7.9% | -7.1% | 0.3% | -22.2% | -8.9% | -2.0% | 16.5% | 7.1% | -2.4% | 4.0% | |
| Pending | -27.3% | 15.6% | 7.5% | -17.4% | 10.2% | -9.6% | 0.7% | -3.0% | 7.4% | 13.7% | -7.3% | -3.2% | |
| Sold | -9.0% | 16.0% | 20.6% | -35.1% | -14.4% | 1.9% | -19.3% | 2.2% | 24.2% | 10.7% | -6.2% | 4.6% | |
| % CHG Current Month over Same Month Last Year | |||||||||||||
| Listed | -33.0% | 8.6% | -32.7% | 21.0% | 8.5% | 7.3% | 20.9% | 32.1% | 21.0% | -1.9% | -7.0% | -2.0% | -0.6% |
| Pending | -4.0% | 23.2% | 5.8% | 16.4% | 32.5% | 23.0% | 27.3% | 32.7% | 9.4% | 8.3% | -1.5% | -15.3% | 5.4% |
| Sold | 11.8% | 16.9% | -0.3% | 2.9% | 28.6% | 11.3% | 25.5% | 38.8% | 10.8% | 9.0% | -11.7% | -19.6% | -11.5% |
Current Statistics tracking the Real Estate Market in the Antelope Valley, Palmdale & Lancaster Core areas. Homes For Sale in Palmdale and Lancaster
| Month to Date and Projected Opened Escrows* | |||
| Total Active | 872 | ||
| Total Active Core Area | 568 | ||
| Total Active REO's | 82 | ||
| Total Short Sale | 175 | ||
| Pending MTD/Projected | 113 | 484 | |
| Sold MTD/Projected | 65 | 279 | |
| Percent Sold Over List Price | 238.46% | ||
| Sold Last Month / % of Difference | 424 | -34.30% | |
| Last Year Month / % of Difference | 392 | -28.94% | |
| Active Listing Mix (Core) | |||
| REO % of TTL | 14.44% | ||
| Short Sale % of TTL | 30.81% | ||
| REO+SS % of TTL | 45.25% | ||
| Traditional Sale % of TTL | 54.75% |
Absorption Rate*
Current Month 2.1 Months
At Last Months Rate 2.4 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 Palmdale & Lancaster homes for sale. 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 Short sale Help. 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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