West San Gabriel Valley Real Estate Market Report, September, 2008
By Keith Sorem
(Keller Williams Realty)
The , composed of Pasadena, Altadena, South Pasadena, and San Marino 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. September marks the eighth month in a row that the Market Index has increased to 0.32. A year ago it was 0.26. New Listings In September 244 new listings, compared to 156 in August, last year there were 230. Pending Ratio New homes entering escrow are indicators of future sales. This month we had 0.46, compared with last year’s 0.18. Listing Inventory This month 761, in August 837, and last year 730. Sold Listings In September132 homes sold, compared to August 155, and in 2007 sales of 87. Average Sales Price The average this year was $830,283, down 33.5% fro...
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