La Habra Home Sales ~ Real Estate Market Update

4th  Quarter Closings City of La Habra for 2009 vs. 2008:

• $327,445 Average Sales Price 2009 ~ Price Per Sq. Foot $205.95 ~ 48 Days on Market
• $344,425 Average Sales Price 2008 ~ Price Per Sq. Foot $197.95 ~ 76 Days on Market

 Not all type of sales are the same: 

2009 ~  130 Total Closings~ 43%  Standard Sales ~ 26%  Bank Repos ~ 20% Short Sales ~ 11% Other

2008  ~ 154 Total Closing ~  29% Standard sales ~ 41 % Bank Repos 19% Short Sales ~ 11% Other

In analyzing the info I think the numbers reflect several things:

(1) Sales for the first half of 2009 were at a record low, while sales at year-end increased dramatically, largely in anticipation of the expiration of the first-time home buyer credit.

(2) Bank repos sales were lower in 2009 vs. 2008 for several reasons, goverment imposed foreclosure moratorium, both federally and state, the Obama Work Out Plan in hopes of doing loan modification for home owners, and in my opinion, many lenders not wanting to add to the massive wave of foreclosures on their books.

If you’re looking to buy a home or sell a home in La Habra, contact me, direct or text  714 595-1494.