Real Estate Market Index Report West San Gabriel Valley, CA March 2009

Real Estate Market Report

West San Gabriel Valley March, 2009

Pasadena, Altadena, South Pasadena, and San Marino

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 increased from 0.20 to 0.29, mirroring the shift in December. Last year the index was 0.17.

New Listings - 204 new listings, even with last month's 199. Last year there were 319.

Pending Listings - 116 listings opened escrow, compared to 88 last month, versus 67 last year.

Pending Ratio - 0.55, up from 0.43 last month, up from last year's 0.21

pending ratio.

Listing Inventory - 783 listings on the market, down slightly from 797 last month. Last year we had 989.

Sold Listings -111 properties sold, up from 93 last month. Last year 91 homes sold.

Average Sales Price - $595,724, down slightly from $558,620 last month, down 21.3% compared to last year.

Days On Market - 117, compared to 120 last month and 59 last year.

Price Per Square Foot - $359.52, up slightly from $353.78 last month, down 18.7% from a year ago.

Sales are strong due to the lower prices and interest rates. The new stimulus package allows for a more generous tax credit of $8,000 which does not need to be repaid if you live in the property three years, $10,000 additional if you buy new construction.

Data from Itech and SRAR MLS has not been verified, is not guaranteed, and is subject to change.