Everyone has been reading about what is selling and what is not selling but it is still hard to find out just how many homes have sold. Most cities within Los Angeles county have seen the demand for property drop. Overall rates have not shifted significantly from last year. It is still a great time to purchase when you look at where rates are historically. With that said the number of homes sold across Los Angeles County is down.
We thought we would chart for everyone the sales for the last couple of months of homes sold. This data comes from what has been recorded and does not include condos which we will include tomorrow.
So what does this chart tell us. It tells us a few things for sure.
- August 2007 sales are off slightly more than 42% from the same month as last year.
- September 2007 sales are off 57% from the same period as last year.
These numbers are quite sobering. 2006 was already a year that was down from the previous records and we are off well 2006 pace. The good news in this is that to borrow money and to use first time home buyer programs is still a great opportunity. If you are selling consider your listing price carefully and make sure that you are committed to selling your property. Understand as a seller the easier you make it for the buyer to purchase your property the easier everything will be.
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