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Real Estate Economic Blog: Sales Decline, Prices Drop

For January 2009

Existing Home Sales: fell by 5.3% to 4.49 million. It has declined by 8.6% over the past year.

Single-Family Existing Home Sales: declined by 4.7% to 4.05 million. It dropped 7.1% over the past year.

Condo/co-op Sales: tumbled by 10.2% to 440k. It dropped 20.3% over the past year.

Inventory of Homes Available for Sale: declined by 2.7%.

Average Home Price: fell 13.3%

Median Home Price: declined by 14.8%

If you need real estate advice, feel free to contact me or visit www.westsidehomefinder.com. If you are interested in seeing if now could be a good time to refinanance your home, or get pre-qualified for a loan to purchase a property, don't hesitate to contact me or visit www.realpromortgage.com.

Source: National Association of Realtors

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES - SANTA MONICA - MALIBU - BRENTWOOD

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY

VENICE TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

Posted by Joshua Barre Broker/Owner Westside Properties on 02/25/2009 06:33 PM

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