Keith Sorem

Real Estate Market Report

West San Gabriel Valley May, 2009

Pasadena, Altadena, South Pasadena, and San Marino

Market Index - 0.45, up 10 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 increased to 0.45 from 0.35, mirroring the shift in last two months. Last year the index was 0.26. Spring market has taken off!

New Listings - 204 new listings, slightly above last month's 196. Last year there were 215.

Pending Listings - 151 listings opened escrow, compared to 119 last month, versus 107 last year.

Pending Ratio - 0.74, up from 0.61 last month, up from last year's 0.50 pending ratio.

Listing Inventory - 694 listings on the m arket, down from 740 last month. Last year we had 892.

Sold Listings -162 properties sold, up from 138 last month. Last year 123 homes sold.

Absorption Rate - 4.3 months, versus 5.4 last month, compared to 7.3 last year.

Average Sales Price - $746,567, UP from $649,725 last month, down 14.3% compared to last year.

Price Per Square Foot - $400.30, up from last month's $379.14, down 9.2% from a year ago.

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 rise. Both Average Sales Price AND the price per square foot has been increasing since February.

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.

Contact me today for a no-obligation analysis of your situation at 1-888-284-2056.

Real Estate Market Report

Northeast Los Angeles May, 2009

Atwater Village, Eagle Rock, Glassell Park, Highland Park, and Mount Washington

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 went up to 0.45, versus 0.35 last month. Last year is was 0.14. This is 5 months in a row of increases.

New Listings - 50 properties hit the market, UP from 12 last month and 61 last year.

Pending Listings - 49 listings opened escrow, up from 30 last month versus 25 in April of 2008.

Pending Ratio - 0.98, way up from 0.45 last month, versus 0.38 last year.

Listing Inventory -196 listings on the market, down from 226 last month, last year was 297.

Units Sold -39 properties sold, up from last month's 48. Last year 16 homes sold.

Days On Market - 137 versus 167 last year.

Absorption rate - 5.0 months, last year it was 18.6 months!

Average Sale Price -$425,285, UP from last month's $384,463, and down only from last year by 9.3%.

Price Per Square Foot - $306.40, up from last month's $262.97, and down 1.2% from last year.

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. The price per square foot has been increasing since March.

For buyers - this may be the bottom of the market. Don't believe what the media is selling. Both price per square foot and average price have been increasing since March.

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

Real Estate Market Report

Sunland - Tujunga - Shadow Hills May, 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 jumped up to 0.46 from last months 0.39. Last year it was 0.23.

New Listings - 43 new listings hit the market, compared to 34 last month. We had 40 new listings last year.

Pending Listings - 41 opened escrow up from last months 29. Last year we had 20 listings change to Pending status.

Pending Ratio -0.95, up from 0.83 last month, last year the ratio was 0.50.

Listing Inventory - 157 properties on the market, up from last months 123, compared to 182 last year. There are fewer properties available for sale than last year.

Units Sold - 31 homes closed, down from last month's 38 homes, versus 21 last year.

Days On Market - 125 this month, 104 last month, versus 77 last year

The Absorption rate is 5.1, last month it was 4.6. Last year the rate was 8.7 months.

Average Sale Price -$369,114 up slightly from last month's $364,774, and a 9.2% drop from last year.

Price Per Square Foot -$218.50, down from last month's $237,95, down 22.7% to last year.

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. Values have some more room to fall.

For buyers - this may be the bottom of the market, or close to it. Timing any market can be difficult and this one is no exception.

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

For a consultation or questions feel free to call

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 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

Real Estate Market Report

La Canada Flintridge, CA May, 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 is at 0.22 up from last months 0.19 and the same as last years 0.22.

New Listings - 39, up from 31 last month and last years 28.

Pending Listings - 10 listings opened escrow, compared to 13 last month. Last year 9 properties entered escrow.

Pending Ratio - Decreased to 0.26, from 0.42 last month. A year ago it was 0.32.

Listing Inventory - 13 properties, equal to 134 homes last month and up from 104 last year.

Sold Listings - 20 homes sold, similar to 12 last month. Last year 17 homes sold.

Absorption Rate - 6.7 months down from last month's rate of 11.2 months. The lowest rate in the last 12 months was May of 2008 with 6.1 months.

Average Sales Price - $1,405,800 up from last months $1,141,458- and up from$1,164,994 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 - $457.17, up from last month's $456.38 and down 14/6% to last year.

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.

For buyers - this may be the bottom of the market. Waiting for a "better time to buy" might mean a long time.

For sellers - preparing your home for sale is the key to getting the best price. Don't under-estimate the importance of a first impression on a buyer.

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.