Regional Real Estate Market Overview 
Market activity index declined 5 points from July. Federal loan limits are slated to decrease on Sept. 30th from $729K to $625K unless Congress acts to restore them. Interest rates are still under 4.5%.- that is very inexpensive money!

 
Market Activity Index &ndash 0.41, nudged up 1 point from last month&rsquos 0.40, a year ago the index was 0.39 
New listings &ndash 660 new listings, down from last month&rsquos 727, compared to last year&rsquos 781 listings.
 
New Pending listings &ndash 400 about event with 402 last month, down compared to last year&rsquos 455 new escrows.
 
Pending Ratio &ndash 0.61, up from last month&rsquos 0.51, up also  compared to last year the ratio of 0.58.
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Sold Listings &ndash 593, up from 571 closings last month, a year ago 520 properties sold. Note: 79 were REOs, compared to 87 last month, and 69 short sales (compared to 103 last month), or combined &ldquodistressed sales&rdquo of  148 units or 25% compared to 34.2% last year &ndash note that not all short sales are accurately classified, so this segment  is under-reported, and distressed properties are an increasingly significant  part of the market.
 
Months of Inventory &ndash 4.1 months, down from last month&rsquos 4.3 months, up compared to 4.8 months last year.
 
Average Sales Price &ndash down 7.3% compared to 2010, down about the same from last month.     
 
Conclusions
 
For Buyers &ndash Still a great time to buy, low interest rates make it attractive. Congress is considering a proposal to increase the down payment for ALL loans to 20%. Complain to your member of congress.   The new loan limit will be $625,500, down from $729K, another bad idea for the market, effective 9/30/11. Expect at lot of activity around $600K.
  
For Sellers &ndash Time to refinance. If you need to sell, ask for our Highest Value Property Audit to maximize your value. Learn how position your property to attract buyers who are serious, motivated, and want what your property has to offer.
 

Market Overview 
Aug '10
Nov '10
Feb '11
May '11
Aug '11
Yr On Yr
Change
 
 
 
 
 
 
 
 
New Active Listings
781
555
627
789
660
-121
-15.5%
Pending in the month
455
323
474
395
400
-55
-12.1%
Pending Ratio
0.58
0.58
0.76
0.51
0.61
0.03
4.7%
Inventory at month end
2489
2436
2024
2311
2427
-62
-2.5%
Sold listings
520
504
415
561
593
73
14.0%
Months of Inventory
4.8
4.8
4.9
4.1
4.1
-0.7
-14.5%
Market Index
0.39
0.34
0.44
0.41
0.41
0.02
5.1%
 
 
 
 
 
 
 
 
Average Sales Price
 
 
 
 
 
 
 
Northeast Los Angeles
$418,952
$405,158
$380,755
$406,394
$375,212
-$43,740
-10.4%
Glendale
$506,915
$547,122
$551,349
$456,142
$487,820
-$19,095
-3.8%
Crescenta Valley
$563,879
$595,768
$509,700
$592,726
$600,874
$36,995
6.6%
Burbank
$561,311
$522,983
$459,804
$504,900
$446,655
-$114,656
-20.4%
West San Gabriel Valley
$735,305
$658,386
$656,730
$780,122
$687,810
-$47,495
-6.5%
East San Fernando Valley
$323,533
$339,693
$309,957
$303,565
$320,940
-$2,593
-0.8%
Total
$614,398
$578,109
$532,801
$622,552
$569,641
-$44,757
-7.3%

 
Detailed reports for each area are available upon request.
 
Data is from Itech and i-Tech and has not been verified, is not guaranteed, and is subject to change.
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