The chart represents the number of new monthly listings in the Los Feliz area . These numbers do not include pocket listings or homes that were in escrow and fell out for one reason or another.
Last year at about this time, Nov 08, the number of new listings were about the same as Nov. 09. However, in Dec. 08 they dropped down to almost half. A drop in December is typical in any Real Estate Market due to several factors like the holidays and end of year circumstances. Numbers usually do pick up mid January, as they did last year as well.
New listings hit its peak in 2009 in March, when people started feeling better about the way things were headed. That number did not last long and fell again in July to Aug. 09. One reason new listings are being held off is people “waiting” to see how Obama’s Administration and his “changes of stimulus” actually make an impact. A steady number of new listings is still good in this market and the last few months have been steady. We hope to see a rise in listings and sales in the upcoming year of 2010.