The West San Gabriel Valley is composed of Pasadena, South Pasadena, Altadena and San Marino
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 increased to 0.33, up from 0.21, resuming the upward climb.
New Listings - 105, compared to 154 last month. Last year there were 73.
Pending Listings - 65 listings entered escrow, down from 67 listings last month, versus 34 last year.
Pending Ratio - 0.62, up from 0.44, last month, up from last year's 0.47 pending ratio.
Listing Inventory - 605, down from 716 last month. Last year we had 548.
Sold Listings -133, up from 81 last month. In 2007 78 homes sold.
Average Sales Price - $710, 251, up from last month's $697,399, down 15.5% from last year.
Price Per Square Foot -$373.82, down from last months $413.15, down 12.6% from a year ago. The average living area of sold homes was about 212 square feet MORE than last month, but very close to the same size last year.
Summary
Inventory is continuing to decrease; average price appears to have bottomed out, so for those timing to buy at the bottom of the market, the perfect wave of lower rates and prices makes it THE time to buy. But don't tell anyone!
Contact me today for a no-obligation analysis of your situation at 1-888-284-2056
Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change
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