La Crescenta, CA

As the end of the year approaches it is good to take a look at the past few months of the Real Estate market here in Glendale California. I have made a unique video for you to view. Love to help you with your home sale or purchase in La Crescenta, La Canada or Glendale California.
This is a quick snapshot market trends video report for Glendale California for the past 6 months of 2010 in la Crescenta California for Zip Code 91214. Prepared by Realtor Sue Eller of Dilbeck Real Estate, La Canada California. This data encompasses all single family home sales for the areas in La Crescenta and the Glendale Annex of La Crescenta. Please watch the video below to review the charts and graphs. If you wish to learn more, call Sue Eller at (818) 668-4005 or visit www.ellertheseller.com or visit my Facebook Business Page.

Real Estate Market Report

La Crescenta/Montrose/Glendale Annex February, 2010

At A Glance

What a difference a month makes. The Market Index dropped to 0.53, back to March-April levels primarily due to more inventory and fewer sales. Considering the past few months this is a great time for buyers to get a good deal. At least now sellers have competition and cannot afford to overprice if they want top dollar. Note that you need to open escrow by April 30th to take advantage of the $8,000 Federal Tax Credit, and close by June 30^th.

Market Activity Index - 0.53, a decline of 0.22 points

The Market Index a year ago was 0.25.

New Listings - 24 new listings, up from 20 last month. Last year there were 25. Of the 24, two were short sales and three were bank-owned.

Pending Listings - 17 listings entered escrow compared to 19 last month, and 16 last year.

Pending Ratio -0.71, down from 0.95 points last month. Last year the ratio was 0.64.

Listing Inventory - 72 properties, up 7 from last month's 60. Last year we had 102 listings on the market.

Sold Listings - 21 listings sold, down from the 26 listings last month, and well above 8 the year before.

Months of Inventory - 3.4 months up from 2.3 last month. Last year was 11.6

Average Sales Price - $554,448, down from last month's $646.881 and down from last year's $619,625 a 10.5% increase, due mainly to smaller homes being sold, 1,736 square feet (SF) versus 1,575 SF this year.

Price per square foot -$352.03, down from last month's $353.87, and up from last year's $356.93 for an decrease of -1.4%.

Recommendations

For buyers - A great time to make conservative offers. To take advantage of the First Time Home Buyer Federal Tax Credit you must open escrow by April 30^th.

For sellers - Now you've got competition. How do you make certain that you do not leave any money on the table when you sell? Maximize your profit by taking advantage of our Highest Price Analysis. Call today for your no-obligation appointment and learn how to make the most when you sell.

Keith Sorem

Glendale CA Realtor® of the Year 2009

DRE# 01374635

Data from i-Tech MLS has not been verified, is not guaranteed, and is subject to change

Real Estate Market Report

La Crescenta/Montrose/Glendale Annex November, 2009

This area is holding at number 8 in Market Activity Index out of 22 areas. Sometimes statistics are deceiving, and in CV over 40% of homes are selling within 30 days, so do not let the low Index fool you. Good values go quickly, usually with multiple offers. Overpriced listings (60% of the market) tend to sit, receiving offers that are below the list price. The extension and expansion of the $8,000 Federal Tax Credit will help, as well as the $6,500 tax credit for move-up buyers. Interest rates are likely to rise in the spring, so if you need to move, call me now.

Market Activity Index - 0.70, dropped 4 points.

The Market Index is at 0.70 down, 4 points from last month, a year ago it was 0.30.

New Listings - 35 new listings, up from 30 last month. Last year there were 51.

Pending Listings - 25 listings entered escrow compared to 23 last month, and 27 last year.

Pending Ratio -0.70, down 4 points from 0.74 points last month. Last year the ratio was 0.53.

Listing Inventory - 80 properties, up from last month's 69. Last year we had 90 listings on the market. Inventory continues to be in short supply.

Sold Listings - 31 listings sold, about even with 30 listings last month, and 16 the year before.

Absorption Rate is 2.6 months compared to 2.3 last month and 5.6 months last year. Note: a balanced market is considered to be a three month supply of listings.

Average Sales Price - $595,113, up from last month's $540,097 and up from last year's $580,235, a 2.6% increase.

Price per square foot -$352.14, down from last month's $359.59, and up from last year's $345.17 or an increase of 2%.

Conclusions

The Market Activity Index reflects the continuing low Absorption Rate with 2.6 months of inventory available, resulting in prices stabilizing.

For buyers -Low-ball offers are likely to be ignored by sellers. Interest rates are forecast to increase in the spring, so waiting may not be in your best interest (pun intended!).

For sellers - Maximize your profit by taking advantage of our Highest Price Analysis and learn how to make the most when you sell.

Keith Sorem DRE#01374635

Glendale Realtor of the Year 2009

Data from i-Ttech MLS has not been verified, is not guaranteed, and is subject to change.

Real Estate Market Report

La Crescenta, CA August, 2009

Market Activity Index - 0.86 UP 1 point.

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 0.86 from last months 0.85 - A year ago it was 0.31.

New Listings - 20 new listings, down from 25 last month. Last year there were 44.

Pending Listings - 23 listings entered escrow compared to 23 last month, and 12 last year.

Pending Ratio -1.15, up0.22 points from last month's 0.92. Last year the ratio was 0.34.

Listing Inventory -65 properties, down from last month's 74. Last year we had 118 listings on the market. Inventory continues to decline.

Sold Listings - 33 listings sold, down from 40 listings last month, and 24 the year before.

Absorption Rate is 2.0 months compared to 1.9 last month and 4.9 months last year. Note: a balanced market is considered to be a six month supply of listings.

Average Sales Price - $601,955, up from last months $557,975 and down from last year's $582,017 or a 3.4% drop.

Price per square foot -$368.84up from last month's $335.18, and down 6.5% compared to last year's $394.59.

Conclusions

The Market Index continues to remain high. Prices are showing signs of increasing and appear to have bottomed out in January. The market is struggling due to the weak economy and the revised appraisal systems in place since May 1^st..

For buyers - better plan on paying more, dealing with multiple offers on well-priced properties, and receiving counters from sellers.

For sellers - preparing your home for sale is the key to getting the best price. Beware of appraisal issues, plan ahead.

Keith Sorem Realtor DRE#01374635

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

Real Estate Market Report

La Crescenta, CA July, 2009

Market Activity Index - 0.85 UP 15 points.

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 jumped 0.85 from last months 0.70 - A year ago it was 0.41.

New Listings - 25 new listings, up from 29 last month. Last year there were 34.

Pending Listings - 23 listings entered escrow compared to 25 last month, and 15 last year.

Pending Ratio - 0.92, UP from last month's 0.86. Last year the ratio was 0.74.

Listing Inventory -74 properties, up from last months 72. Last year we had 102 listings on the market. Active listings continue to decline.

Sold Listings - 40 listings sold, up from 28 listings last month, and 27 the year before.

Absorption Rate is 1.9 months compared to 2.7 last month and 3.8 months last year. Note: a balanced market is considered to be a six month supply of listings.

Average Sales Price - $557,975, up from last months $565,610 and down from last year's $678,589 or a 19.0% drop.

Price per square foot -$335.18, down from last month's $320.82, and down 5.6 % compared to last year's $355.10.

Conclusions

The Market Index continues to remain high. Unit sales are strong, so demand is slowly outpacing inventory. Prices are beginning to show signs of stabilizing. Values appear to be bottoming out.

For buyers - this may be the bottom of the market

Interest rates are still low.

For sellers - preparing your home for sale is the key to getting the best price. Beware of appraisal issues, plan ahead.

Keith Sorem DRE #01374635

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