Burbank Closed Sales for September 2008
|
|
Bedrooms |
Baths |
Square Feet |
List Price |
LP/SqFt |
Sale Price |
SP/SqFt |
DOM |
|
Min |
0 |
1 |
465 |
$199,900 |
$270.57 |
$185,000 |
$268.03 |
1 |
|
Avg |
2.7 |
2.25 |
1524 |
$560,785 |
$375.35 |
$540,557 |
$363.34 |
80 |
|
Max |
5 |
5 |
3951 |
$1,490,000 |
$513.65 |
$1,400,000 |
$547.46 |
345 |
Month to month average sale price from August to September 2008 is down $14,258, year over year, average sale prices are down by $127,253 or 19%.
Average days on market, year over year are up 23 days.
Average square footage is down by 8% year over year.
Most notably number of sold properties is down 34% from August 2008 and down 22% from September 2007.
These numbers are reflecting several factors……
- More foreclosures have been coming online, loans are hard to come by in the current credit environment.
- Mortgage applications have been down, despite lower rates, but mainly due the seizing up of the credit markets.
