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Alhambra Real Estate Update for 2Q09

See Alhambra's real estate activity for 2nd quarter of 2009

Real estate activity is picking up in Alhambra. The number of home sellers has increased this month, but the number of buyers making offers and opening escrow is at it's highest at 25 in June. Alhambra homes are also selling pretty close to their asking price at 99.6% sold to list price.

The home buyers that I have been working with who are looking for Alhambra homes have experienced multiple offers and have to be fully prepared to act on homes they like otherwise they go into escrow fairly quickly.

Here are the Alhambra real estate statistics for your review for the months of April to June 2009:

Single Family Residence	Apr-09	May-09	Jun-09
New Listings	13	16	20
Total Listings	40	41	46
Sales Pending	19	17	25
Homes Sold	31	18	16
Listings Expired	4	15	5
Average Days on the Market	165	54	50
Average Price Per Sq. Ft.	$323	$332	$347
Median Selling Price	$455,700	$525,000	$475,000
Average Selling Price	$496,029	$572,278	$470,813
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	5.6	9.9	12.5

Condos and Townhomes	Apr-09	May-09	Jun-09
New Listings	9	11	10
Total Listings	32	41	36
Sales Pending	7	15	18
Homes Sold	10	7	8
Listings Expired	6	1	7
Average Days on the Market	115	105	77
Average Price Per Sq. Ft.	$263	$286	$282
Median Selling Price	$336,250	$400,000	$366,500
Average Selling Price	$342,440	$402,686	$361,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	13.9	25.4	19.5