Real Estate Market Index Report Northeast Los Angeles, CA January 2009

Northeast Los Angeles January 2009

Atwater Village, Eagle Rock, Glassell Park, Highland Park, and Mount Washington

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 dropped four points to to 0.23, down from the highest point in the last twelve months.

New Listings - 52 new listings hit the market, compared to only 22 last month and 72 last year.

Pending Listings - 30 properties opened escrow, compared to 23 last month and 29 in January 2008.

Pending Ratio - Dropped to 0.58 from 0.64 last month and 0.40 last year. The "good deals" are selling.

Listing Inventory -225, which is the first month in eight that INCREASED inventory. Last month 176, last year 285.

Units Sold -21 homes sold, compared to 25 last month. Last year 18 homes sold.

Average Sale Price - $420,002, down from last year 28.3%. The first drop since August.

Price Per Square Foot - $315.08 compared to $364.30 last year. This is a drop of 13.5%. The average living area sold was 1,333 square feet compared to 1,620 last year.

Summary - New listings are increasing, along with a strong Pending Ratio, and although most homes sold this year than last year, for the first time we are seeing an uptick in listing inventory, resulting in a further decline in home values .Overall properly prepared and marketed homes are selling. If you are thinking of buying or selling, call me for no-obligation analysis of your situation.

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