We will start our business review with Northwest Glendale.
I took the TOTAL sales for the year and selected the median number in all cases. This is a very different number than taking the median price for January of 2009 and comparing it to the median price for the month of December of 2009. I ti is also quite different than reporting the average price. In Northwest Glendale homes sales, the average is a bad number for 2 reasons- the number of homes sold is not particularly large and a view home sale in the Starvale area can whack an average really fast.
General Median Prices
| $/sf | Sales Price | |
| 2007 | 458 | 786,000 |
|
2008 |
404 |
625,000 |
|
2009 |
358 |
608,000 |
Median Prices by Home Size
| 0-1000sf | 1000-1500sf | 1500-2000sf | 2000-2500sf | 2500+sf | |
| 2008 | 421,000 | 552,000 | 650,000 | 792,000 | 1,165 ,000 |
| 2009 |
382,000 |
510,000 |
611,000 | 732,000 | 940,000 |
Now, what does this mean for you? First of all, it looks like our prices fell, but not by much relative to 2008. The biggest declines were in the really low and really high end. The low end was plagued by short sales and foreclosures and financing for the high end homes was hard to get in 2009. The 1500sf-2000sf sized homes declined the least.
Right at this moment inventory is appallingly low. At the beginning of 2009 we had 92 homes available for sale. Right now we have 34. That is a 63% drop in available homes.
Were you even DREAMING about selling? Now is the time to do it. Right now, before anyone else gets their act together. Call me to list your home. I’ll see you at 2:00, ok? Just tell me where. 😉
