Real Estate Market Report La Canada Flintridge, CA March 2009

Real Estate Market Report

La Canada Flintridge, CA March, 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 increased to 0.19 from last month and last year of 0.12.

New Listings - 42, up from 35 last month. Last year we had 33.

Pending Listings - 12 listings opened escrow, compared to 6 last month. Last year 4 properties entered escrow.

Pending Ratio - Increased to 0.29, up from 0.17 last month. A year ago it was 0.12.

Listing Inventory - 135 properties, up from 114 homes last month and 109 last year.

Sold Listings - 14 homes sold, up from 8 last month. Last year 9 homes sold.

Days On Market- 129, way up from 53 days last month and 80 days last year.

Average Sales Price - $1,926,000 up from last months $1,551,063- and up $880, 00 from last year. The challenge with a small number of sales is that it only takes a few homes to make a difference and may not be indicative of the whole market.

Price per square foot - $525.89, up from last month's $506.39, which is UP 8.6% from last year.

If you are thinking of buying in La Canada Flintridge there is more inventory on the market than last year. Financing is the key to home purchases, and right now there is very limited financing for loans over the $719,000 limit. This will make it harder for buyers, and may result in a softening in pricing. This is a great time to upgrade to a larger home.

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