Inventory & Market Report – 5/31/08

Zip Codes: 91006, 91007market_icon.jpg

Current Market Listings as of May 31st, 2008*
Properties for Sale: 243 (+13)
Median Listing Price: $759,900 (-1.15%)

Weekly Foreclosure Update*
Properties in Foreclosure: 25 (0%)
Properties in Pre-Foreclosure: 75 (+9)
*+/- is compared to previous week’s data.

Changing landscape for Realtors

Apparently, we’re not the only ones that think the average Realtor’s job description is about to change. Jeff Jarvis writes an excellent article on why this is so in Realtors, Prepare to Lose Your 6 Percent.

The only reason — only reason — that Realtors could hold onto their high commission for such little value and work is that they kept information away from the marketplace, making it inefficient.

Despite the changing role of Realtors, I still believe real estate professionals are invaluable in the selling and buying process. I see many FSBO (for sale by owner) listing which could really use some help. It just so happens we came across this photo today to reinforce that idea:


Property and foreclosure numbers obtained from U.S. Census, ZipRealty, Trulia, Yahoo Real Estate and Market listings and price data obtained from DataQuick News.

2 thoughts on “Inventory & Market Report – 5/31/08”

  1. Here’s a house north of the 210 that has extended the date from 5/31 to 6/2 for bids. Is it possible that the bids received by the original date are not acceptable or is this normal? I don’t know what the condition of the property is, but it’s quite a haircut from the $630k price in 2005. The ABC Unified School District…is that Monrovia?

  2. Supposedly there were access issues with that house which led to the exension. It is in the Arcadia school district (Highland Oaks, Foothills, and Arcadia High).

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