Real Estate Market Index Report Shadow Hills, Sunland, Tujunga, CA September 2009

Real Estate Market Report

Sunland – Tujunga – Shadow Hills         September, 2009

Market Index – Up 2 points to 0.43

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 2 points to 0.43 from last month’s 0.41. Last year it was 0.27.

New Listings –48 new listings hit the market, compared to 51 last month.  We had 68 new listings last year.

Pending Listings - 25 opened escrow similar to last month’s 31. Last year we had 12 listings change to Pending status.

Pending Ratio –0.52, way down from 0.61 last month, last year the ra tio was 0.22.  

Listing Inventory – 144 properties on the

market, down from last month’s 153, compared to 175 last year.   

Units Sold – 37 homes closed, down from last month’s 31 homes, versus 21 last year. 

Absorption Rate – 3.9, up from last month’s 3.7. Last year the rate was 5.9 months. Note: A six-month supply is considered a balanced market.

Average Sale Price - $361,092 down from last month’s $380,887 and a 7.6% drop from last year.   

Price Per Square Foot –$237.56, down from last month’s $245.42, down only 2.5% to last year.     

Conclusions

The Market Index has increased after two months of decline.   Contrary to other markets the Absorption Rate is increasing, so buyers have more options than neighboring areas.

For buyers –the buyers market appears stable for now, so if you want that tax credit, buy something now.

For sellers – preparing your home for sale is the

key to getting the best price.  Although inventory levels are at historic lows, appraisals are causing problems.  Ask about our Highest Property Value Audit so you can maximize your sale price. 

Keith Sorem Realtor
DRE#01374635

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