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Answers (2)
- Lisa Lucky, "Lisa Lucky"
- Contributions:976
In North Scottsdale, number of sales are up but sale prices are down. We have started to have higher priced homes sell BUT they are selling for less than they have in the past. Look at recent sales in your neighborhood. Buyers certainly will.
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- Alison Paoli, "AlisonPaoli"
- Contributions:23
Hi msbas,
Here is a link to the Zillow Real Estate Market Report for Woodland Hills, CA: http://www.zillow.com/local-info/CA-Los-Angeles/Woodland-Hills-home-value/r_48570/
Our data shows that home values are down 13.2% year over year to a Zillow Home Value Index of $524,800. This is the median value of all homes in the Woodland Hills area.
As for total homes sold, our data is showing us that it up 22.4% year over year, up 39.0% quarter over quarter and up 13.9% month over month. The suggested data point to use is the year over year number because of seasonality.
One other important data point to look at is foreclosure re-sales. In June 2009 25.9% off all homes sold were foreclosure resales. So, while total home sales are up, home values are down and it could be attributed to one in every four homes selling as a foreclosure resale.
Take a look at this blog post when you get a chance as well: http://www.zillow.com/blog/a-tale-of-two-bottoms-sales-and-home-values/2009/07/24/ It talks about the relationship between home sales and home values.
E-mail me at alisonp-at-zillow.com if you have any more questions, I'd be glad to help.
Best,
Alison
Here is a link to the Zillow Real Estate Market Report for Woodland Hills, CA: http://www.zillow.com/local-info/CA-Los-Angeles/Woodland-Hills-home-value/r_48570/
Our data shows that home values are down 13.2% year over year to a Zillow Home Value Index of $524,800. This is the median value of all homes in the Woodland Hills area.
As for total homes sold, our data is showing us that it up 22.4% year over year, up 39.0% quarter over quarter and up 13.9% month over month. The suggested data point to use is the year over year number because of seasonality.
One other important data point to look at is foreclosure re-sales. In June 2009 25.9% off all homes sold were foreclosure resales. So, while total home sales are up, home values are down and it could be attributed to one in every four homes selling as a foreclosure resale.
Take a look at this blog post when you get a chance as well: http://www.zillow.com/blog/a-tale-of-two-bottoms-sales-and-home-values/2009/07/24/ It talks about the relationship between home sales and home values.
E-mail me at alisonp-at-zillow.com if you have any more questions, I'd be glad to help.
Best,
Alison
My realtor says Prices & sales increased 5% to 10% this Aug Zillow doesn;t reflect that???
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