THE LATEST NEWS IS GREAT!
The National Association of Realtors – they have released their monthly real estate sales data for the nation and for all regions. Figures are up!
Single-family home sales rose 9.4 percent and condominium sales jumped 9.7 percent. Overall, existing-home sales, including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007! For the west of the country, Existing-home sales surged 13.0 percent to an annual rate of 1.30 million in September and are 5.7 percent above a year ago.
Also with this level of sales activity inventory has fallen, Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, which represents an 7.8-month supply at the current sales pace, down from an 9.3-month supply in August. Unsold inventory totals are 15.0 percent below a year ago.
Locally, the California Association of Realtors has released figures showing that the statewide median price of an existing single-family home increased 1.1% in September and that the level of home sales increased 0.6% from August and 2.1% from September 2008. Also, the median price of an existing, single-family detached home in California during September was $296,090, compared with the $292,960 median in August. This is fantastic news!
Naturally the first time homebuyer credit helped bolster these figures – there is still time to get a home and be eligible for the credit!
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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Judy Kunisaki – CA DRE license 00963582
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