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

Northeast Los Angeles February 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 bounced back up to 0.27, up four points from last month's 0.23, equaling the highest rate in the last twelve months.

New Listings - 44 properties hit the market, down from 52 last month and 54 last year.

Pending Listings - 37 listings opened buyers, up from 30 last month and 19 in February 2008.

Pending Ratio - Jumped up to 0.84 from to 0.58 last month, versus 0.35 last year. This is an amazing statistic.

Listing Inventory -241 listings on the market, UP from 225 last month, which is the second month in a row that listing inventory INCREASED. Last year 280.

Units Sold -27 properties sold, up from last month's 21. Last year 21 homes sold.

Days On Market - 163, versus 83 last year.

Average Sale Price - $431,712, UP from last month's $420,002, down from last year 23.4%.

Price Per Square Foot - $ 274.28, down from last month's $315.08, down 18.5% from last year.

Summary - New listings are declining, along with a strong Pending Ratio, and although more homes sold this year than last year, for the second month in a row we are seeing an uptick in listing inventory.

Get your $8,000 federal tax credit by purchasing a home in 2009. Call me for a no-obligation to evaluate your situation.

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