Real Estate values in Shadow Hills are under pressure just as they are throughout the San Fernando & San Gabriel Valleys. As of June 9, 2008 there were 40 homes on the market in Shadow Hills. 2 homes sold in April and no homes sold in May. At that rate of sales it will take between 20 and 40 months to sell the remaining homes. This is in sharp contrast with the rest of the Verdugo Hills area. For example, in neighboring Sunland/Tujunga there were 174 homes on the market. And, in Sunland/Tujunga, 20 homes sold in April and 22 sold in May. At this rate of sales it will take between 8 and 9 months to sell the remaining homes.
Absorption Rate – Number of months to sell all homes on the market.
Shadow Hills: Approx 30 months – STRONG Buyer’s Market
Sunland/Tujunga: Approx 8 months – Slight Buyer’s Market
A balanced market is considered 5 – 7 months of inventory.
The final piece of the puzzle is the number of foreclosures on the market. In the Verdugo Hills communities including Shadow Hills, Sunland/Tujunga, La Crescenta, La Canada, Montrose and portions of Glendale there were 902 listings as of June 9, 2008. In April there were 113 sales and in May there were 143 sales. In each month foreclosures and short sales were approx. 21% of the sales.
|Area||Active Listings||April||May Sales||April||Months|
|Chevy Chase & Glenoaks Cyn||67||8||13||8.4||5.2|
|Rossmoyne & The Woodlands||73||15||13||4.9||5.6|
|Sparr Hts & Montecito||7||0||2||3.5|
|La Tuna Canyon||43||3||3||14.3||14.3|
|Shadow Hills & adj||109||5||3||21.8||36.3|