Sunland - Tujunga - Shadow Hills                       February  2009

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 jumped eight points to 0.26 from 0.18.  

New Listings - 44 new listings hit the market, compared to 30 last month.  We had 36 new listings last year.

Pending Listings -31  opened escrow versus only 13 listings last month.  Last year we had 15 listings change to Pending status.

Pending Ratio -0.70, a nice jump from 0.43 last month.  Last year the ratio was 0.44.  

Listing Inventory - 183 properties on the market, up from 163 last month, compared to 193 last year.

Units Sold - 16 homes closed, equal to last month's 16 homes last month, versus 11 last year. 

Days On Market 151, versus 62 last year.

Average Sale Price - $383,229, down from last month's $418,188, a 33.1% drop from last year.   

Price Per Square Foot -$226.76, down from  last month's $240.48, versus  $312.430 last year.     

Summary - Inventory is increasing, pending sales are UP, and sales are UP.  Interest rates are falling, so I would say this market is finally beginning to show signs of a turnaround.

If you are thinking of selling call me so we can help you get the most for your home when you list it with me. 

If you are going to take advantage of the Stimulus bill and try to get you share of the $8,000 federal tax credit, maybe even the $10,000 for buying a new home, let's talk. 

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change