March Real Estate Sales Statistics

The March 2011 real estate sales statistics are in for our local area.  These numbers are pulled directly from our local Multiple Listing Service (MLS), which is the best and most accurate source for this type of data.  While there are multiple media outlets using national numbers, remember that real estate sales trends are very much a local phenomenon.  Reporting for the nation, a state and even a small region has its place, however, the most important numbers are those from your very own neighborhood.  Local stats are the most relevant for a buyer or seller.  The charts below are the actual statistics from our local MLS.  We have also included our thoughts on the statistics, which we hope you will find useful.

Wow! What a month we had in Burbank.  Burbank had their highest number of total sales since September of 2008.  Properties have been flying off the shelves, particularly those below the $400,000 price range.  I am also happy to announce that our office (Keller Williams) led this charge with nearly twice as much volume as the second place finisher.  Keller Williams finished up March with $1,120,000 in total sales volume for the month, while the nearest competition's volume was $650,000.  Almost 1 out of every 3 homes sold in Burbank in the month of March was sold by our Keller Williams team.  If you want to buy or sell real estate in Burbank, you're on the right track by visiting this website.  Putting this success and experience to work for you is only a phone call or email to our team away.  The total number of new listings in Burbank was at a 5 month high.  This is proof that the market continues to improve.

Chevy Chase Canyon had another solid month.  The key to being successful as a seller in this and many other markets is pricing.  As a seller, you will net more money by pricing your home correctly the moment it goes on the market.  Listing it high and hoping for an offer, not receiving one and having to drop the price will ultimately lose you money.  As a buyer in this area, there are plenty of properties to choose from and some great deals out there.

Glendale had a record month in total sales for the month of March as well.  Total sales in Glendale haven't been this high since March of 2007!  The median sales price in Glendale was the 5th highest it has been in the last 12 months.  This is another indicator that properties are moving, which is a great sign.  A 3 month new listing high in Glendale also tells us that this trend will likely continue.  Navigating the Glendale market will take an experienced agent to help you get the highest price possible when selling your home, and the best deal possible when purchasing.

La Canada Flintridge has seen fairly stable sales over the last twelve months and March was no exception.  New buyers continue to come to La Canada Flintridge for their great schools and fantastic properties.  There are some truly outstanding buys in La Canada Flintridge, particularly in the luxury market.  The key to the La Canada Flintridge market for both buyers and sellers is research and studying comparable sales, as well as having an agent assisting you who is actively representing your best interest.

La Crescenta is always a popular market.  The city had their highest total number of sales since November of 2010.  My favorite statistic for La Crescenta was the median days to sell, which was at a 10 month low.  Homes are selling quickly in La Crescenta.  If you are buying or selling in this area, it's important to do your research up front and when you're ready to pull the trigger, be prepared for things to move quickly.  It's easy to sell too low or overpay in La Crescenta if you haven't done your homework and have a great agent in your corner.  If you are interested in buying or selling real estate in La Crescenta, we're here to help.

Pasadena has been remarkably stable over the last 12 months.  The month of March had the most sales in the last 12 months and the shortest days on market in the last 9 months.  Both facts are indicators that things are picking up in almost every corner of our local market.

Burbank - Number of Sales and Median Sales Price
Burbank - Median Days to Sell and Number of New Listings

Chevy Chase Canyon - Number of Sales and Median Sales Price

Chevy Chase Canyon - Median Days to Sell and Number of New Listings

Glendale - Number of Sales and Median Sales Price

Glendale - Median Days to Sell and Number of New Listings

La Canada Flintridge - Number of Sales and Median Sales Price

La Canada Flintridge - Median Days to Sell and Number of New Listings

La Crescenta - Number of Sales and Median Sales Price

La Crescenta - Median Days to Sell and Number of New Listings
Pasadena - Number of Sales and Median Sales Price

Pasadena - Median Days to Sell and Number of New Listings

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Stephen Green

REALTOR®

Ph:   818.LVTMGRN (818.588.6476)

Fax: 818.450.0220

sgreen@teamgreenrealty.com

www.teamgreenrealty.com

I'd greatly appreciate if you could pass my name to the people you know who are thinking about buying or selling real estate. I'll take excellent care of them.

DRE License No: 01373821

See the full gallery on Posterous

Posted via email from Team Green Realty Blog

Real Estate Sales Statistics

We're happy to announce that, after reviewing our most recent data, things in the real estate market are definitely improving in nearly all of our immediate areas.  Check out the details below.  These stats came from our local MLS database and include Chevy Chase Canyon, Glendale, La Canada Flintridge, La Crescenta, and Burbank.

The long and short of it is, in almost all areas, more homes are selling, selling faster, and the median sales price is UP!  What more could you ask for?

Real estate sales statistics for Burbank

Real estate sales statistics for Burbank

Real estate sales statistics for Chevy Chase Canyon

Real estate sales statistics for Chevy Chase Canyon

Real estate sales statistics for La Canada Flintridge

Real estate sales statistics for La Canada Flintridge

Real estate sales statistics for La Crescenta

Real estate sales statistics for La Crescenta

Real estate sales statistics for Glendale

Real estate sales statistics for Glendale

Real estate sales statistics for Glendale

Real estate sales statistics for Glendale

Posted via email from Team Green Realty Blog

Chevy Chase Canyon Website

Press Release

For Immediate Release: New online community resource for Glendale residents in and near Chevy Chase Canyon.

Glendale, CA, March 8, 2011: Team Green of Keller Williams Realty has explored many ways to give back to their wonderful community in exchange for their success as real estate agents over the years. Their most recent contribution is in the form of a new online destination for residents in and near Chevy Chase Canyon. The web address for this new, free resource is www.chevychasecanyon.com. The site was built for residents living in the “triangle” formed by the 2, 210 and 134 freeways and has a few compelling resources for area residents. Included are: a community message board, community links of interest, and a listing (in map format) of real estate for sale and lease in the area.

Team Green is Glendale’s “Dynamic Duo” of real estate and is lead by a tech savvy couple that is passionate about their community, and about real estate. The team’s leaders are Stephen and Collette Green, who live in Chevy Chase Canyon. Collette commented on the team’s most recent project; “Our business is about service, and service to our community is simply an extension of our love for the area, and the people that live here. We believe that providing this free resource to community residents will have a positive impact and provide an online destination where residents can gather and share information. The site’s motto is Your Community…Your Voice.”

It’s no secret that online communities have the potential to pull residents together. In recent years social media sites have demonstrated seemingly magical powers that seem to grow as fast as their membership. Stephen commented on the site’s goals; “This is a project that will never be finished. We framed out the project with what we’ve heard from residents they would like to see. The existing content and features are very flexible, particularly the community message board or forum.  We’ve had residents request forums specific to their new neighborhood watch program, a general discussion forum, as well as lost and found topics and, of course, an area real estate forum. Our goal with the site was to serve the community, and we’re happy to add whatever content they want to see.”

Team Green is open to creating additional sites for other communities as well. Visit www.chevychasecanyon.com to request one for your neighborhood.

Chevy Chase Canyon Community Web Site

Press Release for Chevy Chase Web Download this file

Posted via email from Team Green Realty Blog

C.A.R. reports California home sales rise in December, posting seven-month sales high

California home sales rose in December, posting their highest level since May, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).  The statewide median price increased from November, but was down from a year ago.

“December’s sales increase reflects buyers taking advantage of rock bottom interest rates and improved affordability since the first half of the year, when prices were higher,” said C.A.R. President Beth L. Peerce.  “Most of December’s sales opened escrow in October and November.  Rates hit their absolute lowest in October but began edging higher in November, prompting buyers to get off the fence,” she said.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 520,680 in December, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide.  December’s sales were up 5.9 percent from November’s revised pace of 491,590 but were down 6.8 percent from the revised 558,840 sales pace recorded in December 2009.  The statewide sales figure represents what would be the total number of homes sold during 2010 if sales maintained the November pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

Following three consecutive monthly declines, the median price of an existing, single-family detached home sold in California increased 1.7 percent from a revised $296,690 in November but was down 1.6 percent from the revised $306,860 median price recorded for the same period a year ago.

“While sales rose in December, the sales pace in the second half of the year was lower than the first half as the housing market weaned itself off home buyer tax credits,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “For 2010 as a whole, sales reached 494,900 homes sold, down 9.5 percent from the 546,860 homes sold in 2009.  However, the statewide median price increased 10.2 percent to reach $302,900 for the year, up from the $275,000 recorded in 2009,” she said.

Here are other highlights of C.A.R.’s resale housing report for December 2010:

• A greater than usual drop in listings combined with the sales increase caused C.A.R.’s Unsold Inventory Index to decline more than one month.  The Unsold Inventory Index for existing, single-family detached homes was 5.0 months in December, down from 6.2 months in November.  The index was 3.8 months in December 2009.  The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.  

• Thirty-year fixed-mortgage interest rates averaged 4.71 percent during December 2010, compared with 4.93 percent in December 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.31 percent in December 2010, compared with 4.31 percent in December 2009.

• The median number of days it took to sell a single-family home was 57.5 days in December 2010, compared with 35.1 days for the same period a year ago.

Stephen Green

Posted via email from Team Green Realty Blog

Keller Williams Does It Again!

Keller Williams Realty Named Highest Ranked in Home Buyer Satisfaction by J.D. Power and Associates for Third Straight Year

According to the J.D. Power and Associates 2010 Home Buyer/Seller Study^SM, Keller Williams Realty, Inc., the third largest real estate company in the United States, has 

received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row. The company also ranked second among home sellers in the study for the second year in a row.

“We are incredibly proud of our associates for earning this distinction and want to thank them for their commitment to their clients and communities," said Mark Willis, CEO of Keller Williams Realty. “We see this honor as demonstration of our company philosophy that it is the agent’s brand that matters most and no amount of money spent on advertising can replace the influence and reputations our agents have in their local communities. Our associates have earned this on their own, by building relationships in their communities."

The study was produced by J.D. Power and Associates to measure home buyers and sellers customer satisfaction. The results of the home-buying experience were determined by three factors including the buyer’s experience with their agent, the real estate office and a variety of additional services. Keller Williams Realty performed particularly well in the agent and office factors. And, overall satisfaction of buyers for the industry was up over last year.

Additionally, the study noted that the importance of real estate agents has increased substantially in the past year, with buyers and sellers relying on the negotiating skills of their chosen agent and help in navigating the market.

“It is thrilling to see our firm, once again, get public recognition for its incredible focus on customer satisfaction from such a prestigious group. Our associates continually demonstrate that it is possible to deliver the highest level of customer service in one of the toughest real estate markets on record," said Mary Tennant, president and COO of Keller Williams Realty. “We feel incredibly fortunate to be in business with them, and want to congratulate them on their hard work and dedication."

In the past year, Keller Williams Realty has continued to grow despite the well-publicized turmoil in the real estate industry. In addition to becoming the 3^rd largest real estate company in the U.S., surpassing RE/MAX®, Keller Williams Realty was ranked as the No. 1 real estate franchise on the 31^st Annual Franchise 500 list by Entrepreneur magazine and was voted the Most Recognizable Brand of Real Estate Franchises and the Trendsetter of the year for 2009 in an industry-wide survey for the Swanepoel TRENDS Report. 

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Stephen Green

REALTOR®

Ph:   818.LVTMGRN (818.588.6476)

Fax: 818.450.0220

sgreen@teamgreenrealty.com

www.teamgreenrealty.com

I'd greatly appreciate if you could pass my name to the people you know who are thinking about buying or selling real estate. I'll take excellent care of them.

DRE License No: 01373821

See and download the full gallery on posterous

Posted via email from Team Green Realty Blog

January 2011 Market Update

January 2011  Market Update

The housing market is recovering. As more home buyers are taking advantage of the improved affordability conditions. With mortgage rates hovering around recent record lows and home prices having generally stabilized, economists are expecting an upward trend to a healthy and sustainable level in 2011.

Encouraging signs are showing up across the economy. Retail sales recently hit their highest level since before the recession. Key measures of small and big businesses’ optimism marched back up to prerecession levels and new claims for jobless benefits are trending lower. Together they bode well for steady job creation and improved consumer confidence which is generally manifested in more spending.

As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down. Meanwhile, serious buyers stand to benefit from historically favorable buying conditions.

 

Home Sales

Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011.

 

Home Price

Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities .

 

Inventory

The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest.

 

Affordability

Housing

 affordability set a new record 

in November. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio, currently at 13.5%, continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to begin drawing affordability back up toward more normal levels.

 

Source: National Association of Realtors - October housing data released December 22.

Interest Rates

Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.

Type	Rate
30 year fixed	4.77%
15 year fixed	4.13%
5/1-year ARM	3.75%
30 year average for a 30 year fixed rate mortgage	8.9%

Source: Freddie Mac, Rates as of Jan 7.

This Month's Video

Download our new iPhone app at: http://itunes.apple.com/

 

Stephen Green

REALTOR®

Ph:   818.LVTMGRN (818.588.6476)

Fax: 818.450.0220

sgreen@teamgreenrealty.com

www.teamgreenrealty.com

I'd greatly appreciate if you could pass my name to the people you know who are thinking about buying or selling real estate. I'll take excellent care of them.

DRE License No: 01373821

See and download the full gallery on posterous

Posted via email from Team Green Realty Blog