Burbank, CA 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 continues to decline from 0.28 to 0.24 points. In six months we are almost back to February 2008's level.
New Listings - 54 new listings, compared to 64 last month and 87 in 2008.
Pending Listings - 42 listings opened escrow, compared to 48 last month and 48 last year.
Pending Ratio -0.78, even with last month's 0.75, and compared to last year's 0.55.
Listing Inventory - 290 homes on the market at the end of the month, compared to 300 last month, versus 346 in 2008.
Sold Listings - 29 listings sold during the month, compared to 35 last month and 29 in 2008.
Days On Market 63, versus 104 in 2008.
Average Sales Price - $437,638, which is 18.2% lower than last year.
Price per square foot $323.94, the second-lowest in the last 12 months, exceeded only by last month's $301.38.
Everyone wants their own piece of pork from the Stimulus Bill. You are in luck. Buy a home (not having owned one in the last three years) and you can get an $8,000 tax credit. Buy a NEW HOME and get another $10,000 from the state of California. My advice - interest rates are low, buy now.
For sellers, if you need to sell for top dollar, then call me for a Highest Value Property Audit to see how we can help you get the most out your home when you sell.
Data is from SRAR and has not been verified, is not guaranteed, and subject to change
Comments(0)