The following graphs show the median days on market for the 12 months to September 2008. These include Glendale and La Crescenta; La Canada; and Sunland Tujunga California. “Days on Market” is an important indicator – longer “Days on Market” indicates a “Buyers’ Market”. As you can see, home sales in La Crescenta (orange line) are much more brisk than in surrounding portions of Glendale.
Here we compare the Median Days on Market for Glendale and La Crescenta, California

Here we compare the Median Days on Market for Glendale and La Crescenta, California

 

La Canada home sales in the following chart slowed tremendously as the summer progressed. One interpretation is that as buyers’ sought lower prices, sellers’ refused to cut their price. The result – longer market times. To understand what this really means we also need to see what the absorption rate (how many homes are selling) and the pricing trends have been. Stay tuned – we’ll have this information in upcoming posts. If you would like additional information on your market area please request your personal report.

Median Days on Market for La Canada, CA

Median Days on Market for La Canada, CA

 

In contrast, Sunland went up early in 2008 to almost 4 months of “Days on Market”, dropped by half and has now gone back up to 3 months and rising…

Here we compare the Median Days on Market for Sunland and Tujunga, California (click chart for larger picture)

Here we compare the Median Days on Market for Sunland and Tujunga, California (click chart for larger picture)

 

Sunland Tujunga has been under constant pressure from foreclosures – for more information be sure to get you personal report!