Real Estate Trends - Palmdale, Lancaster, Jan 24, 13
The Real Estate market in the Antelope Valley is entering another shift, back to a more normal place. Bank owned properties are still around but for the most part only a fraction of the available inventory. We do believe Bank owned will be part of the market for 2013 with a small bump-up this spring. Short Sales have been very lackluster in 2012 starting in February we saw a fast drop-off of new short sale listing. Short sales are not even 3% of our market. That said, we have seen an uptick in calls wanting to sell short in the past few weeks. We could be seeing more short sale activity in the coming months however we believe short sale will become a niche market in late 2013 and be unheard of in 2014.
The current available inventory levels is the major issue we face in today’s real estate. With just over 400 homes for sale in the core area in the Antelope Valley new listing are receiving multiple offers within hours. Buyer appetite could eat through 3,000 homes if we had them to sell.
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation…Short Sale Specialist
| Monthend Numbers (core) | |||||||||||||
| Dec | Nov | Oct | Sep | Aug | July | June | May | Apr | Mar | Feb | Jan '12 | Dec | |
| Listed | 325 | 381 | 470 | 456 | 455 | 393 | 410 | 466 | 614 | 520 | 561 | 601 | 599 |
| Pending | 395 | 424 | 507 | 446 | 427 | 419 | 498 | 498 | 634 | 535 | 495 | 581 | 522 |
| Sold | 346 | 319 | 344 | 320 | 425 | 391 | 405 | 424 | 462 | 388 | 308 | 416 | 476 |
| % CHG Month over Month | |||||||||||||
| Listed | -17.2% | -23.4% | 3.0% | 0.2% | 13.6% | -4.3% | -13.7% | -31.8% | 15.3% | -7.9% | -7.1% | 0.3% | |
| Pending | -7.3% | -19.6% | 12.0% | 4.3% | 1.9% | -18.9% | 0.0% | -27.3% | 15.6% | 7.5% | -17.4% | 10.2% | |
| Sold | 7.8% | -7.8% | 7.0% | -32.8% | 8.0% | -3.6% | -4.7% | -9.0% | 16.0% | 20.6% | -35.1% | -14.4% | |
| % CHG Current Month over Same Month Last Year | |||||||||||||
| Listed | -84.3% | -92.1% | -69.6% | -78.3% | -49.2% | -60.6% | -57.6% | -33.0% | 8.6% | -32.7% | 21.0% | 8.5% | 7.3% |
| Pending | -32.2% | -34.9% | -12.0% | -31.2% | -26.9% | -11.7% | -0.8% | -4.0% | 23.2% | 5.8% | 16.4% | 32.5% | 23.0% |
| Sold | -37.6% | -46.4% | -61.9% | -70.3% | 2.8% | 5.6% | 3.2% | 11.8% | 16.9% | -0.3% | 2.9% | 28.6% | 11.3% |
Current Statistics tracking the Real Estate Market in the Antelope Valley, Palmdale & Lancaster Core areas. Homes For Sale in Palmdale and Lancaster
| Month to Date and Projected Opened Escrows* | |||
| Total Active | 684 | ||
| Total Active Core Area | 410 | ||
| Total Active REO's | 53 | ||
| Total Short Sale | 12 | ||
| Pending MTD/Projected | 222 | 287 | |
| Sold MTD/Projected | 175 | 226 | |
| Percent Sold Over List Price | 25.14% | ||
| Sold Last Month / % of Difference | 346 | -34.67% | |
| Last Year Month / % of Difference | 416 | -45.66% | |
| Active Listing Mix (Core) | |||
| REO % of TTL | 12.93% | ||
| Short Sale % of TTL | 2.93% | ||
| REO+SS % of TTL | 15.85% | ||
| Traditional Sale % of TTL | 84.15% |
Absorption Rate*
Current Month 2.1 Months
At Last Months Rate 2.4 Months
Historical High Active Listing - 5300+ Mid 2007 - Within the last 3 years our Low Active Listing were under 700 in Nov '09, our new low is 397 at the end of 2012.
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 Palmdale & Lancaster homes for sale. Or Keller Williams Realty AV
Janet O'Brian is a Certified Short Sales Specialist by the National Association of Realtors® (SFR) and is ready to help you with your situation Short sale Help. She can Stop Foreclosures Now!
(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.
Keller Williams Realty AV Ranked #1 in the Antelope Valley 661.733.0508 to list your home.
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