The Verdugo Hills includes the communities of La Crescenta, La Canada, Montrose, Sunland/Tujunga and portions of Glendale. The May sales statistics are encouraging:

May sales were up strongly in many parts of the Foothills.

Verdugo Hills Active Listings May 2008

If sales rates continue at this pace AND the economy holds up, it’s possible that we will have a somewhat healthy summer sales period.  I say somewhat because foreclosures are still a big factor.  Foreclosures represent about 25% of the sales throughout the Foothills.  Some areas, La Canada for example, have very few foreclosures.  Other areas such as La Crescenta have more while Sunland & Tujunga have been very hard hit.

Absorption Rates in Verdugo Hills

6 months is considered a balanced absorption rate.   La Crescenta and other areas have improved somewhat.  More details in my next posting.