Real Estate Market Report
East San Fernando Valley, CAÂ Â December, 2009
North Hollywood, Sun Valley, Valley Village, Valley Glen, and Van Nuys.
The East San Fernando Valley area Market Activity Index, edged up slightly, still making it a good place to buy.Â There are fewer homes on the market than a few months ago, but prices have bottomed out, so if you want to live in the area, buy now.Â The first time home buyer $8,000 Federal income tax credit was not only renewed but expanded, increasing the income cap and home purchase price.
Market Activity Index â€“ increased 1 point to 0.61
Last month the Index was 0.60. Â Â Last year it was at 0.30.
New Listings â€“ 119 new homes came on the market, down from 149 listings last month, versus 130 last year.
Pending Listings â€“ 131 opened escrow, versus 127 last month, compared to 108 last year. Â
Pending Ratio â€“1.10, an increase from last monthâ€™s 0.85, and last yearâ€™s 0.83
Listing Inventory â€“ 454 properties are on the market, down from 466 properties last month, compared to 896 last year. Inventory continues to decline compared to last year. Â
Absorption Rate â€“ 3.2 months, compared to 3.0 last month, way down from 5.6 months one year ago.
Sold Listings â€“144 homes sold, similar to the 154 last month, compared to 159 last year.
Average sale price - $366,516 up from last monthâ€™s $329,345 and just down 1.02% from last year. Â Â Â
Price per square foot - $248.49, up from last monthâ€™s $237.45, down 3.2% from last year â€“ but the third month with an increase.
Interest rates are expected to rise in March as the Treasury Dept. will have exhausted its Stimulus Funds. We anticipate a full one point increase in rate.Â For buyers and sellers acting now is the best solution to get the most for your money.
For buyers â€“ Interest rates forecast to rise in March, donâ€™t wait if you need to buy.
For sellers â€“ preparing your home for sale is the
key to getting the best price.Â Ask for our Maximum
Property Value Audit to learn how to maximize your profit when you sell.
Â For a no-obligation consultation call today.
Glendale Realtor of the Year 2009
Data from Itech MLS has not been verified, is not guaranteed, and is subject to change.