MarketWATCH Northridge

Sales Contracts Hit Highest Level in Months

So last week, I gave you the doom and gloom about buying in a HOT market. Now here's a slightly different perspective that shows that buyers are still buying!

The National Association of Realtors (NAR) just announced that the February Pending Home Sales Index reached it’s highest reading since July 2015.

This index means that more contracts have been signed by buyers that will soon translate to sales. February’s Index rose 3.5% month-over-month to 109.1.

What does this mean for the market?

Lawrence Yun, NAR’s Chief Economist explained:

"After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year and a modest, seasonal uptick in inventory." "Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what's being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau."

So What Does This Mean For Buyers?

There is a lot of competition out there right now for your dream home. Prices are going to continue to climb, act now before you are priced out of your future home. [My advice: Talk to me, let's be reasonable about this] If you're really wanting to buy right now, let's sit down over a cup of coffee and set out our plan. First things are first though, let's see how much home you can truly afford based on your income and your comfort zone, simply ask for our Free Home Loan Report, and we'll get the ball rolling. CLICK HERE

Now, let's look at what's for sale this week.

There were 15 new listings this week in Northridge. They range in price from $239,000 -$929,000; size 931sf - 4504sf; age from 1949 - 1995.

Here's our featured listing this week...

18925 Halsted ST, Northridge, CA 91324 MLS# SR16068984 - $639,000

Wonderful family home in prime Northridge on a cul-de-sac is move in ready. Bright open floorplan with loads of natural light. Living room with fireplace, hardwood floors and French windows. Remodeled kitchen with corian counters, newly refinished cabinets, newer appliances, ceramic tile floors and a breakfast area. True formal dining with a stunning custom beveled glass panel. Master suite features a remodeled bath with a brand new vanity, hardwood floors and a walk in closet. Private backyard with a covered patio, fruit trees, a conversation pit and built in bar* Garage is currently converted to an office/play room with loads of storage but can also be a garage. Other features include central air and heat, copper plumbing and PRICED TO SELL. This home is ready to go.

Check out all the new listings this week in Northridge – HERE

Warmly,

Anne-Marie Stone Pinnacle Estate Properties Cal BRE# 00923192

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