Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley January 20 2010...
Relatively large annual sales gains were recorded last month in many well-known, high end markets including Newport Beach, Santa Monica and Beverly Hills. Furthermore, some of the more reasonably priced inland areas that saw strong 2009 sales recorded year-over-year declines last month. Those markets included Palmdale, Lancaster, but they are well on the way to recovery. The Palmdale, Lancaster Real Estate market is the most affordable in Los Angeles County.
The percentage of So-Cal homes sold above $500,000 last month rose to 20% of all sales, up from 16% percent a previous year and the highest since it was 23% in August 2008. On average since 2000, $500,000+ sales have made up 36.5 percent of total sales. Right before the credit crunch hit in August 2007, making larger “jumbo” mortgages more expensive and harder to obtain, and 500,000+ sales made up about 50% of So-Cal’s business.
Janet O'Brian is a Certified Short Sales Specialist 
in California is ready to help you with your Situation… Pre-foreclosures
Monthend Numbers
| Dec '09 | Nov '09 | Oct '09 | Sep '09 | Aug '09 | |
| Listed | 598 | 756 | 659 | 701 | 691 |
| Pending | 507 | 667 | 593 | 725 | 564 |
| Sold | 517 | 565 | 549 | 564 | 612 |
The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.
Dailys*
| New Listings | 41 |
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| Back on Market | 11 |
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| Price Increases | 0 |
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| Price Reductions | 18 |
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| Pendings | 40 |
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| Solds | 13 |
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| Expireds | 4 |
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| Inactives | 7 |
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Month to Date and Projected open Escrows*
| Total Active | 1,257 | |
| Total Active Core Area | 886 Under 700 Nov 6 '09 | |
| Total Active REO's | 253 - 5 added | |
| Total Short Paids | 247 - 1 added | Pre-foreclosures |
| Pending MTD/Projected | 302 / 468 | |
| Sold MTD | 182 | Projected - 282 - With 60.2.1% closing Rate |
| Sold Last Month | 517 | Solds are down 45.4% Project from last month |
Absorption Rate*
Current Month 1.9 Months
At Last Months Rate 2.5 Months
Historical High 5300+ Mid 2007
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 http://www.homesbyjr.com/.
(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.
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