Real Estate Market Report
La CaÃ±ada Flintridge, CA Â Â Â Â Â Â Â Â Â Â Â January, 2010
At A Glance
La CaÃ±ada Flintridge now has the lowest Market Activity Index of the areas I monitor.Â Important points this month:Â A big increase in new listings (not one is a distressed sale), a big drop in pending listings and sold listings, results in a large increase in listing inventory, driving prices down and listing times up. Interest rates are forecast to increase by as much as a full point in March, so now would be a great time to lock your rate.
Market Activity Index 0.17, down 24 points.
New Listings â€“ 24, up from 9 last month and about even from last yearâ€™s 25.Â You might be interested to know that not one of the new listings is a distressed sale.Â
Pending Listings â€“ 4 listings opened escrow, down from 5 last month.Â Last year 7 properties entered escrow.Â
Pending Ratio â€“ At 0.52, down slightly from 0.56 last month.Â Â A year ago it was 0.28. Â
Listing Inventory â€“ 71 properties were on the market, down from 56 homes last month and down from 84 last year.
Sold Listings â€“ 8 homes sold, up from 20 last month.Â Last year 10 homes sold.Â
Months of Inventory â€“ 8.9 months, up from last monthâ€™s rate of 2.8 months. In 2009 it was 8.4 months.
Average Sales Price - $887,500, down from last monthâ€™s $1,099,813 and down 43.7% from last year.Â Also, the gap between List Price and Sale Price is twice what it was a year ago.
Price per square foot â€“ $391.14, down from last monthâ€™s $431.64 and down 28.5% to last year.
For buyers â€“ Take advantage of the supply and get a good deal now. Find out if the seller really needs to sell.Â Financing above the magic $729K ceiling is improving.
ÂFor sellers â€“ Now you have real competition.Â How do you sell your home and leave no money on the table?Â Take advantage of our Highest Value Property Audit.Â Call today for a no-obligation appointment
Glendale CA Realtor of the Year 2009
Data from Itech MLS has not been verified, is not guaranteed, and is subject to change.p>