Home > Blogs > Keith Sorem's Blog
26,316 views

Keith Sorem's Blog

By Keith Sorem | Agent in Glendale, CA
  • Real Estate Market Index Report Sunland, Tujunga, Shadow Hills CA May 2009

    Posted Under: Market Conditions in Shadow Hills  |  June 15, 2009 12:00 PM  |  294 views  |  No comments

    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. 

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

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

    Posted Under: Market Conditions in Shadow Hills  |  March 18, 2009 3:10 PM  |  436 views  |  No comments

    Sunland – Tujunga – Shadow Hills                       February  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 eight points to 0.26 from 0.18.  

     

    New Listings – 44 new listings hit the market, compared to 30 last month.  We had 36 new listings last year.

     

    Pending Listings -31  opened escrow versus only 13 listings last month.  Last year we had 15 listings change to Pending status.

     

    Pending Ratio –0.70, a nice jump from 0.43 last month.  Last year the ratio was 0.44.  

     

    Listing Inventory – 183 properties on the market, up from 163 last month, compared to 193 last year.

     

    Units Sold – 16 homes closed, equal to last month’s 16 homes last month, versus 11 last year. 

     

    Days On Market 151, versus 62 last year.


    Average Sale Price - $383,229, down from last month’s $418,188, a 33.1% drop from last year.   

     

    Price Per Square Foot –$226.76, down from  last month’s $240.48, versus  $312.430 last year.     


    Summary - Inventory is increasing, pending sales are UP, and sales are UP.  Interest rates are falling, so I would say this market is finally beginning to show signs of a turnaround.

     

    If you are thinking of selling call me so we can help you get the most for your home when you list it with me. 

     

    If you are going to take advantage of the Stimulus bill and try to get you share of the $8,000 federal tax credit, maybe even the $10,000 for buying a new home, let’s talk.  

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


 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer