Local iTech market stats for this past quarter

Our local MLS is called iTech, and an agent (thank you Nancy Morris) in our office extrapolated data to find trends. Average listing price and average selling price are not as significant in predicting trends as is the average price per square foot. This is because the average listing and selling prices can vary depending on the mix of houses that are sold in any one period. Trends noticed:

1. Prices for most of our areas are very close to flat or slightly increasing with just a few exceptions. For example it appears that La Canada prices are continuing to slide and NW Pasadena may have turned the corner.

2. The number of houses sold increased over last quarter except for one area in Glendale where volume was the same as last quarter.

3. All areas except SW Pasadena have flipped over to a seller's market with less than six months of inventory. Several areas have 3 or less months of inventory. The amount of inventory dropped sharply in a couple of areas.