Pasadena real estate market has seen another month of pretty high foreclosure process cancellations. The banks are canceling or postponing auction sales in record number.
Foreclosure Radar reports 672 Pasadena homes in some sort of foreclosure process as of today. 68 of these homes are already bank owned. 31 of these homes are currently listed with real estate agents and are available for sale on the Multiple Listing Service.
26 of these REO homes are in escrow or under contract. The other dozen or so Pasadena foreclosures have not been listed for sale yet.
In February 2010, Pasadena Multiple Listing Service (ITEC) reported 15 Pasadena foreclosure sold with an average price per sq. ft. of $257.97 and a median sales price of $277,500.
Compare this to Pasadena real estate single family home sales statistics for the same period of time:[altos_chart st=”CA” cid=”1994″ zid=”2894335″ rt=”sf” ra=”a” q=”a” left=”median_price” size=”m” timeSpan=”e” link=”http://www.pasadenaviews.com/real-estate-market-reports-and-statistics-real-time-housing-data/” endDate = “2010-03-05” /]
The lowest priced Pasadena foreclosure home closed escrow and sold for $128,000. This home was at 153 West Washington Blvd and had 663 sq.ft. with 3 bedrooms and 1 bath.
The highest priced Pasadena foreclosure home closed escrow and sold at $968,888 – at 1415 South Marengo. So, higher priced, luxury homes are coming up on the market and we’ll see more of them as banks will start foreclosing on more properties which will most likely start hitting the market sometime in June per my lender sources.
Here’s a list of all Pasadena foreclosure homes for sale updated every 2 hours:[idx-listings linkid=”58701″ count=”100″]
As always, we are here to answer all your real estate questions, so feel free to contact us at 626-629-8439.
PasadenaViews Real Estate Team
Pasadena Real Estate Agents