Real Estate Market Index Report for Northeast Los Angeles, CA June 2009

By
Real Estate Agent with Keller Williams Realty

Real Estate Market Report

Northeast Los Angeles          June, 2009

Atwater Village, Eagle Rock, Glassell Park, Highland Park, and Mount Washington

 

Market Index  - 0.56 - up 11 points!

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.

  Real Estate Market Index Report Northeast Los Angeles, CA June 2009

The Market Index went up to 0.56, versus 0.45 last month.  Last year is was 0.17. This is the six month in a row of increases.

 

New Listings - 49 properties hit the market, about even with 50 last month, versus 52 last year.

  

Pending Listings - 49 listings opened escrow, equal to 49 last month, up from 23 in June of 2008.

Pending Ratio - 1.00, about even from 0.98 last month, versus 0.37 last year. 

  

Listing Inventory -157 listings on the market, down from 196 last month, last year was 278. Inventory increased slightly. 

 

Units Sold -39 properties sold, equal to last month's 39. Last year 28 homes sold.

 

Days On Market - 137 versus 130 last year.

 

Absorption rate - 4.0 months, last year it was 8.5 months.  A six-month supply is considered a balanced market.

 Real Estate Market Index Report Absorption Rate Northeast Los Angeles, CA June 2009

Average Sale Price -$393,600 down from last month's $425.285, and down from last year by 18.2%.    

 Real Estate Market Index Report  Average Sale Price Northeast Los Angeles, CA June 2009

Price Per Square Foot - $293.95, down from last month's $306.40, and down 17.8% from last year. 

 Real Estate Market Index Report  Average Sale Price Per SF Northeast Los Angeles, CA June 2009

Conclusions

 

For buyers - this may be the bottom of the market.

Given the economy it is possible we will remain at the bottom for a while and that prices may continue to fall.

 

For sellers - preparing your home for sale is the key to getting the best price.  Appraisals problems are beginning to have a negative impact on sales prices and may help push prices down further. 

Keith Sorem Realtor DRE #01374635

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
California Los Angeles County Glassell Park
Groups:
Keller Williams 'Rainers
Market Updates
Tags:
keller williams
highland park
buy a home
sell a home
mount washington
eagle rock
glassell park
northeast los angeles
atwater village

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
61,786

Keith Sorem

Ask me a question
*
*
*
*
Spam prevention