Glendale volume picked up well in March 2012. Although this is primarily due to February being very slow, this is still good news for the Glendale Market. Single family homes picked up nearly 20%, while condos picked up 70%. Hopefully this is a sign that Glendale is now in its recovery phase. Prices of condominiums also had a strong showing in March; they were up 20% from February. However, single family home prices fell 10% in the same period.
March 2012 say significant volume increases across the board when compared to February 2012. Single family home volume was up 25% and Condo volume was up almost 20%. Prices did not fare as well as the volume. Prices of single family homes were down more than 25% from February 2012 and March 2011. Condo prices were up slightly compared to the previous month, but up 25% from March of last year.
March 2012 showed promising volume increases in Pasadena. We saw an increase across the board of 10% from February. This, however is down significantly from March 2011. The volume slowed throughout 2011, but hopefully this is a sign that 2012 will be strong for Pasadena. Prices did not fare as well overall. Single family home prices have been stable, but condo prices are down significantly. Prices of condominiums in Pasadena were down more than 20% in March compared to February. This is also the case when comparing March 2012 to 2011.
The statistics are off in Santa Monica for the month of March. This could be signalizing that the bottom is here or near. Volume was up in total on an aggregate basis, but March is a longer month than February, we should have seen a larger gain. Prices were down across the board. Single family homes did not take as steep a hit as the condominiums. Condo prices were down more than 30% in March when compared with February.
The Woodland Hills market is showing signs that the bottom has been reached and recovery is underway. Volume was up in both product types from February. Prices of single family homes were down in March, but condo prices were up more than 20%.