La Crescenta, CA

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.

Real Estate Market Report

La Crescenta, CA June, 2009

Market Activity Index - 0.70 down 5 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 dropped to 0.70 from last months 0.75 - A year ago it was 0.44.

New Listings - 29 new listings, up from 21 last month. Last year there were 33.

Pending Listings - 25 listings entered escrow compared to 32 last month, and 24 last year.

Pending Ratio - 0.86, down from last month's 1.52. Last year the ratio was 0.73.

Listing Inventory -76 properties, down from last months 80. Last year we had 116 listings on the market. Active listings continue to decline.

Sold Listings - 28 listings sold, equal to 28 listings last month, and 27 the year before.

Days On Market - 89 again equal to 89 last month and 79 last year.

Absorption Rate is 2.7 months compared to 2.9 last month and 4.3 months last year. Note: a balanced market is considered to be a six month supply of listings.

Average Sales Price - $565,610 up from last months $543,179 and down from last year's $604,429 or a 6.4% drop.

Price per square foot -$320.82, down from last month's $333.85, and down 12.8 % compared to last year's $367.88.

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 Realtor DRE#01374635

Real Estate Market Report

La Crescenta, CA May, 2009

Market Activity 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 soared to 0.75 from last months 0.35 - A year ago it was 0.38.

New Listings - 21 new listings, way down from 58 last month. Last year there were 36.

Pending Listings - 32 listings entered escrow compared to 20 last month, and 15 last year.

Pending Ratio - 1.52, down from last month's 0.34. Last year the ratio was 0.4

Listing Inventory -80 properties, down from last months 123. Last year we had 118 listings on the market.

Sold Listings - 28 listings sold, versus 23 listings last month, compared to 30 the year before.

Days On Market - 89, compared to 104 last month and 57 last year. The Absorption Rate is 2.9 months compared to 5.4 last month and 3.9 months last year. Note: a balanced market is considered to be a six month supply of listings.

Average Sales Price - $543,179 down from last months $560,196, and down from last year's $628,571 or a 13.6% drop.

Price per square foot -$333.85, UP from last month's $313.66, and down 11.4 % compared to last year's $394.83.

Conclusions

The Absorption Rate (if home sales continued at the present rate, the number of months it would take to consume the current listing inventory) continues to drop. 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

For sellers - preparing your home for sale is the key to getting the best price.

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

For a consultation or questions feel free to call

A Wall Street Journal article echoes our resent experience in our market area with entry level homes. We are seeing more competition from buyers, multiple offers, and disappointment when buyers don’t get their offer accepted.

Click the link below to read The Wall Street Journal article.

http://online.wsj.com/article/SB124044612611045827.html