Real Estate Market Index Report Sunland, Tujunga, Shadow Hills January 2009

Sunland - Tujunga - Shadow Hills January, 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 dropped four points to 0.18 from 0.22.

New Listings - 30 new listings came on the market, compared to 13 new listings. We had 54 new listings last year.

Pending Listings -13 listings opened escrow, compared to 12 last month. Last year we had 8 listings change to Pending status.

Pending Ratio - 0.43, a drop of over half from last month 0.92, Last year the ratio was 0.16.

Listing Inventory - 163 properties are on the market, down from 106 last month, compared to 210 last year.

Units Sold - 16 homes closed escrow, up from 11 homes last month, versus 16 last year.

Average Sale Price - $418,188, up from $373,100 last month , versus last year $402,206. or a decline of 4%.

Price Per Square Foot - $240.48 , down from last month's $271.74, compared to $318.20 last year. The biggest difference is the change in the size of homes sold - January 2008 1,264 square feet of living area versus 1,739 square feet in 2009. Large homes sell for a lower price per square foot.

Summary - Inventory is declining, pending sales are UP, and sales are UP. Interest rates are falling, so I would say this market is finally beginning to show signs of a turnaround.

It is very difficult to accurately predict the absolute bottom of any market, but this market is giving every indication that this is it.

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