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Real Estate Market Index Report La Canada Flintridge CA February 2010

By
Real Estate Agent with Keller Williams Realty

Real Estate Market Report

La Cañada Flintridge, CA                                      February, 2010

 

At A Glance

La Cañada Flintridge continues to have the lowest Market Activity Index of the areas I monitor.  Important points this month:  A big increase in new pending listings and a drop in the Months of Inventory from 8.9 to 6.9 months.  Interest rates are forecast to increase by as much as a half point so now would be a great time to lock your rate.

Market Activity Index 0.29, up 12 points. The Market Index is back to the same level as May-June levels - talk about back to the old days.  Last year it was 0.12 - so even with this 12 point jump, still the lowest in the area.

 Real Estate Market Index Report La Canada Flintridge CA February 2010

New Listings - 22, up from 24 last month and up from last year's 35.  You might be interested to know that three new listings are short sales, two are REOs. 

  

Pending Listings - 11 listings opened escrow, up from 4 last month.  Last year 6 properties entered escrow. 

 

Pending Ratio - At 0.50, up slightly from 0.52 last month.   A year ago it was 0.17.  

Listing Inventory - 76 properties were on the market, up from 71 homes last month and down from 114 last year.

Sold Listings - 11 homes sold, up from 8 last month.  Last year 8 homes sold. 

 

Months of Inventory - 6.9 months, down from last month's rate of 8.9 months. In 2009 it was 14.3 months.

 Months of Inventory La Canada Flintridge, CA February 2010

Average Sales Price - $1,388,504, way up from last month's $887,500 and down 27.9% from last year. 

 Real Estate Market Index Report Average Sale Price La Canada Flintridge CA February 2010

Price per square foot - $431.35, up from last month's $391.14 and down 18.0% to last year.

 Real Estate Market Index Report Average Sale Price per SF La Canada Flintridge CA February 2010

Recommendations

 

For buyers - Take advantage of the supply and get a good deal now. Find out if the seller really needs to sell.  Financing above the magic $729K ceiling is improving.

 

For sellers - Now you have real competition.  How do you sell your home and leave no money on the table?  Take advantage of our Highest Value Property Audit.  Call today for a no-obligation appointment

 

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

 

Data from i-Tech  MLS has not been verified, is not guaranteed, and is subject to change