Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley August 5 2009

Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley August 5 2009
The Greater Antelope Valley could be entering a crisis as the available Single Family Res  has drop under 800 units (according to the local MLS) and appears to be in free fall.  With today data-check we have only 773 Single Family homes for sale in the greater Antelope Valley.

Prices are on the rise is most areas, with offers above the listing price, furthermore it is very likely to have multiple offers, 15 to 40 is not uncommon.  If we don’t see a jump in available homes for sale we might see a pricing spike that will not be reflected by appraisers, thus killing deals.

Pre-foreclosures have been in the news of late, however getting up to speed might not be in time if the current trend continues.

July '09 Monthend Numbers:
Listed....... 721
Pending.... 690
Sold......... 715

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope 

Vally.Dailys*

New Listings	44
Back on Market	9
Price Increases	3
Price Reductions	18
Pendings	45
Solds	34
Expireds	2
Inactives	9

Month to Date and Projected open Escrows*

Total Active	1,142
Total Active Core Area	773
Total Active REO's	207
Total Short Paids	304
Pending MTD/Projected	80	/  496

Absorption Rate*
Current Month 1.5 Months
At Last Months Rate 2.2 Months

Historical High 5300+ Mid 2007

Team O'Brian work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. 

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.