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Alhambra Real Estate Market Report - October 2008

Alhambra real estate market update for October 2008

The median sales price in Alhambra in October is $525,000. On average, Alhambra homes stayed on the market for 145 days before selling.

Alhambra inventory is tightening and days on the market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.

The ALHAMBRA market is currently quite strongly in the Buyer's Market zone (below 30). The 90-day Market Action Index stands at 17. With several months of inventory available at the current sales rate, buyers should find ample choice. The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall.

Alhambra Market Action Index

Search Alhambra MLS (Multiple Listing Service) below:

Alhambra real estate trends and statistics for August through October 2008:

Single Family Residence	Aug-08	Sep-08	Oct-08
New Listings	18	14	12
Total Listings	67	54	52
Sales Pending	9	12	8
Homes Sold	21	13	13
Listings Expired	9	12	12
Average Days on the Market	82	213	145
Average Price Per Sq. Ft.	$363	$328	$360
Average Median Price		$495,000	$525,000
Average Selling Price	$484,967	$693,241	$517,808
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	13.8	18.0	17.3

Condos and Townhomes	Aug-08	Sep-08	Oct-08
New Listings	11	10	10
Total Listings	36	37	35
Sales Pending	10	4	11
Homes Sold	8	9	5
Listings Expired	7	10	6
Average Days on the Market	103	40	66
Average Price Per Sq. Ft.	$296	$316	$271
Average Median Price		$412,500	$365,000
Average Selling Price	$364,944	$403,299	$349,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	19.5	17.8	30.3

Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service)

I invite you to request Alhambra's real estate market real time reports by clicking How's the Market button on my real estate blog. These reports are compiled by Altos Research and the analysis is emailed to you weekly. I also offer real estate market reports for San Gabriel, San Marino, South Pasadena, Pasadena, Arcadia, Altadena, Monterey Hills and more.

If you would like to search for homes in Alhambra, please visit the free home search here on this real estate website.

For a private consultation about buying or selling your Alhambra home, or if you have other real estate related questions, I'd love to hear from you at 626.627.7107.

Posted by Irina Netchaev, real estate broker

http://www.pasadenacarealestatehomes.com/0084FE