Pasadena At-A-Glance Real Estate Statistics – May 2011
Here’s a latest list of the newest home listings in Pasadena:
- Mon, 05 Jun 2023 12:48:00 +0000: $1,095,000 :: 433 Maple Way, Pasadena CA, 91101 - Pasadena Home Search
5 beds, 4 baths
Home size: 1,677 sq ft
Lot Size: 4,579 sq ft
Added: 06/05/23, Last Updated: 06/05/23
Property Type: Single Family
MLS Number: 23270205
Community: Pasadena (NE)
Status: Active
This newly renovated property offers not just 1, but 3 living spaces, providing incredible versatility & income potential.The main house features 3 beds/2 baths, a bonus office, with ample space for comfortable living. It boasts modern upgrades & a fresh, contemporary aesthetic, making it an inviting & stylish place to call home while keeping it's original charm. In addition to the main house, there is a studio located in the backyard. Complete with its own kitchen & bathroom, this separate living space presents an excellent opportunity for rental income or as a guest retreat. As if that wasn't enough, there is also a guest suite located in the attic with its own private entrance, kitchen, & bathroom. This unique and self-contained space adds yet another layer of income potential or can be utilized as an additional living area for extended family or guests. The property includes a detached 2-car garage, ensuring convenience and security for your vehicles and storage needs. A long driveway easily accommodates up to 4 cars, making parking a breeze for residents and visitors alike. Outside, you'll find a spacious patio area, perfect for hosting gatherings, enjoying al fresco dining, or simply relaxing in the California sunshine. The property's location is simply unbeatable, placing you in the vibrant heart of Pasadena, with its charming neighborhoods, trendy shops, delicious dining options, and cultural attractions just moments away. Don't miss out on this exceptional opportunity, where you can live in one unit and rent out the others to help cover your mortgage or generate additional income. Embrace the potential of this versatile property and seize the chance to make a wise investment in one of Pasadena's most desirable areas. Schedule your viewing today and start envisioning the endless possibilities that await you!
Listed with Devin McNichol CalDRE: 02038322 | 310-910-4075, Keller Williams Beverly Hills
Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/! - Mon, 05 Jun 2023 11:31:00 +0000: $1,495,000 :: 2336 E Mountain Street, Pasadena CA, 91104 - Pasadena Home Search
3 beds, 2 baths
Home size: 2,250 sq ft
Lot Size: 7,253 sq ft
Added: 05/23/23, Last Updated: 06/05/23
Property Type: Single Family
MLS Number: AR23067334
Community: Pasadena (NE)
Status: Conditional
Prepare to be blown away! Location, privacy, convenience, and recent updates abound at this turn-key, single-level, open floor plan home in Pasadena’s highly desired neighborhood. The pride of ownership is evident in this newly equipped home with over $150k in upgrades! The home features paid off solar, tankless “Noritz” water heater, insulated 2 car garage, irrigated landscaping systems, security lighting, custom outdoor lighting, outdoor kitchen with built in gas grill/range and mounted tv, powered driveway gate, copper plumbing, bay windows, insulated attic, “Thermador” stainless steel appliances, hardwood flooring, recessed LED lighting throughout, in-ceiling audio speakers, custom kitchen cabinetry, and dazzling quartz countertops. Recently in 2021, the homeowners refitted and remodeled: the kitchen, 2 full bathrooms, and repainted the exterior with “Cool Life” paint. The naturally lit and inviting main entry opens to the kitchen and formal living room. You’ll love the abundant open floor plan connecting both the dining and living rooms. A see-through gas operated fireplace seamlessly transitions you into the family room. Here you’ll feel a crisp breeze wafting in from an opened sliding door. Wood flooring leads you from one stunning space to the next, each room crafted with close attention to detail with modern finishes and a tasteful color palette. A private hallway carries you to 3 bedrooms and 2 full baths. The master suite is appointed with a large walk-in closet and ensuite master bath. Connected to the master suite is a spacious bonus room, perfect for an office space or nursery. The insulated garage sits atop an expansive driveway, easily fitting 6+ vehicles. Enjoy the gorgeous views of the mountains from every angle. The beautifully designed, pergola shaded outdoor kitchen will surely make entertaining and al fresco dining a hit this summer. The yard is framed with tall hedges and wood fencing to ensure privacy. The exterior front/rear landscaping and custom lighting shines bright like a diamond, making this the most securely lit home in the neighborhood! Outdoor lighting includes, security lights, path lights, in-ground lights, step lights, wall sconces, and spotlights. Conveniently located minutes from the Metro Gold Line, Hastings Ranch, Victory Park, Farmers Markets, Dog Parks, delicious ethnic restaurants, coffee houses, grocery stores, and top private and public schools. This move in ready home truly has it all, come see for yourself!
Listed with Alvin Yang CalDRE: 02043498 | 626-787-1299, Moon Realty
Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/! - Mon, 05 Jun 2023 10:48:00 +0000: $1,749,000 :: 2148 E Crary Street, Pasadena CA, 91104 - Pasadena Home Search
4 beds, 3 baths
Home size: 2,370 sq ft
Lot Size: 8,185 sq ft
Added: 05/24/23, Last Updated: 06/05/23
Property Type: Single Family
MLS Number: 23273811
Community: Pasadena (NE)
Status: Conditional
Framed by a majestic Oak, this elegant beauty has been lovingly restored and updated, making it the crown jewel of the neighborhood once again. The living room, framed by a sweeping staircase on one end and fireplace on the other, is lined with French windows that carry into the formal dining room, providing maximum light and views of the lush, mature landscaping. Gorgeous white oak floors were brought back to life downstairs, while new wood floors were installed to match upstairs. The downstairs bedroom opens to a large, raised deck, as does the expansive den, which functions perfectly as an en suite studio for someone needing their own space. Upstairs, you'll find three additional bedrooms, the primary boasting soaring, vaulted ceilings and a walk-in closet. Prime for outdoor entertaining, the back yard features a gas fire pit, built-in grill with bar seating, pool room with fridge & food prep area and multiple seating areas. The sparkling saltwater pool, safely enclosed with a custom glass fence so as not to block the view, has a Baja shelf ready for new swimmers or those wanting to lounge on a hot summer day. In addition to kitchen and bathroom renovations, this home recently received a new roof, sewer line and tankless water heater, and approved plans for an ADU are available upon request. Laundry located on both levels for optimum convenience. Open Saturday and Sunday from 1-4pm, don't miss your chance to see this gem in person!
Listed with Jackie Fiske CalDRE: 01943216 | 310-467-1046, Compass
Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/! - Mon, 05 Jun 2023 10:39:00 +0000: $900,000 :: 1203 N Summit Avenue, Pasadena CA, 91103 - Pasadena Home Search
3 beds, 1 bath
Home size: 1,380 sq ft
Lot Size: 10,307 sq ft
Added: 06/05/23, Last Updated: 06/05/23
Property Type: Single Family
MLS Number: PF23094776
Community: Pasadena (NW)
Status: Active
Step back in time to the turn of the 20th century with this 1905 Garfield Heights, Craftsman. Located in the heart of Pasadena this is a blank canvas awaiting your personal touch. Bring your best design ideas and restore this property to its original glory while incorporating modern elements for a perfect blend of old-world charm and contemporary living. This home features a classic Craftsman front porch, original windows, dining room built-ins and hardwood floors. Enjoy the tranquility of the peaceful Garfield Heights neighborhood while still being just minutes away from the vibrant energy of Pasadena and the surrounding areas. Abundant, oversized lot makes for endless possibilities to expand or even add a pool! Close to Old Town, the Rose Bowl, JPL and the 210/134 freeways. This is an as-is sale.
Listed with Jennifer Wenzlaff CalDRE: 01893083 | 3234814437, Proper Dwelling
Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/! - Mon, 05 Jun 2023 09:29:00 +0000: $899,000 :: 1260 N Dominion Avenue, Pasadena CA, 91104 - Pasadena Home Search
2 beds, 1 bath
Home size: 1,227 sq ft
Lot Size: 7,502 sq ft
Added: 05/26/23, Last Updated: 06/05/23
Property Type: Single Family
MLS Number: P1-13747
Community: Pasadena (NE)
Status: Conditional
Welcome to this beautiful character home in Pasadena that features 2 well-sized bedrooms, 1 bathroom, and an expansive backyard! Adorned with vibrant trees, a lush green lawn, blossoming flowers, and a welcoming covered porch, this picturesque home exudes warmth and tranquility. Passing through the front door, one is struck by the hardwood floors which are consistent throughout the living spaces and bedrooms. The living room is light and bright and boasts a magnificent, coved ceiling, built-in bookshelves, picture rail molding, and a breathtaking decorative fireplace that was done by the well-known, early 1900s Pasadena artist, Ernest A. Batchelder. The adjacent dining room features a coved ceiling, built-in shelving, chair rail molding, and crown molding. The large window invites the sunlight to enter the home, creating a captivating atmosphere for sharing meals and creating cherished memories. The stunning kitchen is adorned with marble tile floors, granite countertops, a custom tile backsplash, and recessed lighting. Its abundant cabinets provide ample storage space, ensuring that all your kitchen essentials are within reach. The kitchen also has a door that leads to the oversized backyard. The first bedroom boasts crown molding, a ceiling fan, a well-sized closet, and large windows that frame the breathtaking views of the front grounds. The luxurious hallway bathroom features a marble tile floor, a generously sized tub with a rain shower, floor-to-ceiling tiling, and a pedestal sink. The second bedroom features a ceiling fan, a well-sized closet, and doors that lead to the laundry room. The laundry room itself offers a serene view of the outdoors. Right off the laundry room, there is a powder room. This home also has an upgraded 200-amp electric panel and updated wiring. There are many things to love, especially the expansive backyard which features a large covered patio, ideal for al fresco dining. The grassy lawn invites you to lounge, while the trees provide shade and a sense of serenity. Additionally, a bonus space and a 1-car garage grace the backyard, further enhancing its functionality and charm. The bonus space is perfect for creating an at-home exercise space. This character home has so much to offer. Don't miss the opportunity to call this character-filled home yours!
Listed with Jason Berns CalDRE: 01787757 | (626) 826-4544, Keller Williams Realty
Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/!
Prior Real Estate Market Reports for Pasadena California
April 2011
Pasadena Real Estate Market Overview – 2009 vs 2010
As we start a new year, it’s always interesting to look at year over year data to see the trends in real estate activities.
Media keeps regurgitating national statistics and I get constant calls from my mom in panic that the real estate market is crashing. 🙂 So… let’s look at a few of the critical local stats.
- The volume of home sales was definitely down in 2010. 662 homes were sold in 2010 vs 775 in 2009 – a 17% reduction in inventory.
- The average sales price, however, went up by almost 6% from $755,626 in 2009 to $803,296 in 2010.
- Foreclosures have been on everyone’s mind. I’ve been talking about shadow foreclosure inventory for awhile now. However, there were only 31 sales in 2010 compared to 21 sales in 2009. Most REOs that sell are in the lower price point with the average sales price $441,909 for 2010.
- Investors are out in force. 58% of all single family home short sale that successfully closed escrow were purchase for ALL cash.
- Only 1 in 4 properties that were being sold in a short sale process closed escrow.
Sold Pasadena Real Estate Market Statistics:
Data is based on information from the Pasadena Foothill Association of Realtors ITEC MLS for the periods shown.
Display of MLS data is deemed reliable but is not guaranteed accurate.
| 2010 | 2009 | % Chg | |
| Single Family Homes | |||
| Volume | 662 | 775 | -17.1% |
| Price/Sq. Ft. | $390 | $383 | 1.8% |
| Ave Sales Price | $803,296 | $755,626 | 5.9% |
| Days on Market | 69 | 70 | -1.4% |
| Size/Sq. Ft. | 1,986 | 1,924 | 3.1% |
| REO Volume | 51 | 50 | 2.0% |
| Short Sales Volume | 27 | 12 | 55.6% |
| Condos & Townhomes | |||
| Volume | 416 | 463 | -11.3% |
| Price/Sq. Ft. | $360 | $351 | 2.5% |
| Ave Sales Price | $482,987 | $455,724 | 5.6% |
| Days on Market | 81 | 83 | -2.5% |
| Size/Sq. Ft. | 1,333 | 1,301 | 2.4% |
| REO Volume | 31 | 21 | 32.3% |
| Short Sales Volume | 27 | 12 | 55.6% |
Pasadena’s Single Family Homes – Real Estate report for August 2010
When we are looking at Pasadena home sales data for August 2010, please keep in mind that most of these homes have actually went under contract sometime in June or July. Hot summer months – in more ways than one. Yes… it was hot. 🙂 But, for real estate purposes, this is also the busiest home selling activity.
Many Pasadena home buyers take advantage of vacation time or kids being out of school to go shopping for their next home.
August in itself, had the lowest number of new home listings in Pasadena at only 77 comparing to close to 100 in the previous months.
The lowest priced home for sale listed in Pasadena was $220,000.
The highest priced home for sale listed in Pasadena was $6,650,000
Pasadena Single Family Home Sales statistics:
| Single Family Residence | May-10 | Jun-10 | Jul-10 | Aug-10 |
| New Listings | 96 | 97 | 100 | 77 |
| Total Listings | 310 | 308 | 342 | 282 |
| Sales Pending | 87 | 90 | 84 | 50 |
| Homes Sold | 70 | 76 | 73 | 50 |
| Listings Expired | 25 | 29 | 33 | 46 |
| Average Days on the Market | 59 | 58 | 68 | 68 |
| Average Price Per Sq. Ft. | $378 | $401 | $373 | $388 |
| Median Selling Price | $548,000 | $687,000 | $668,000 | $565,000 |
| Average Selling Price | $620,090 | $862,668 | $825,831 | $823,022 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 19.2 | 17.6 | 20.3 | 24.4 |
Let’s take a look at the actual Pasadena home sales prices by area:
South West Pasadena
Average price per square foot for homes in the South West Pasadena neighborhood increased by 40.3% from August 2009 to August 2010 from $423 per sq. ft. to $593 per sq. ft.
The South West Pasadena homes also sold 54% faster in the same span of time. The average time on the market for these homes in August 2009 was 93 and in August 2010 was 43 days.
On average the homes in South West Pasadena sold at 98% of list price.
See all Pasadena South West homes for sale here. These home listings are updated “real time”.
READ THE FULL POST ON PASADENA REAL ESTATE 2010 SUMMER STATISTICS HERE
Pasadena real estate housing statistics for January 2010
In reviewing the numbers of home sales in Pasadena California for January 2010 and comparing it to January 2009, the stats that jump out at me are:
Pasadena Single Family Houses for Sale
- The inventory is a bit lower and it takes a lot less time to sell a home in Pasadena this year than last.
- Price per square foot of sold homes is actually higher this year than last.
- Even though there’s less inventory, almost twice as many units sold in January of this year than last.
- And, fewer home listings expired.
Pasadena Condos for Sale
- Again less inventory this year, but significantly higher number of sales – in January of 2009, only 5 condos sold and 33 in January of 2010.
- Price per sq. ft. of sold condos is a bit lower at $367 vs. $379
- Absorption rate is only 19.6 weeks in 2010 vs 158 weeks in 2009
Pasadena Townhouses for Sale
- A lot more new townhome listings this January than last year. However, the total number of units is consistent at 67.
- Only 4 townhomes sold in January of 2010 vs 11 in 2009
- Price per square foot is significantly higher and is over $400. This is most likely driven by a small number of sales. That number will come down in February as volume of sales rises.
| Single Family Residence | Jan-09 | Nov-09 | Dec-09 | Jan-10 |
| New Listings | 81 | 53 | 45 | 67 |
| Total Listings | 239 | 226 | 204 | 207 |
| Sales Pending | 31 | 67 | 65 | 61 |
| Homes Sold | 28 | 69 | 68 | 48 |
| Listings Expired | 48 | 36 | 53 | 22 |
| Average Days on the Market | 130 | 67 | 84 | 87 |
| Average Price Per Sq. Ft. | $333 | $368 | $330 | $355 |
| Median Selling Price | $505,000 | $620,000 | $810,000 | $531,500 |
| Average Selling Price | $548,981 | $714,001 | $729,829 | $664,954 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 37.0 | 14.2 | 13.0 | 18.7 |
| Condos | Jan-09 | Nov-09 | Dec-09 | Jan-10 |
| New Listings | 44 | 24 | 23 | 56 |
| Total Listings | 183 | 172 | 143 | 149 |
| Sales Pending | 2 | 35 | 29 | 33 |
| Condos Sold | 5 | 29 | 31 | 33 |
| Listings Expired | 24 | 17 | 24 | 37 |
| Average Days on the Market | 113 | 86 | 67 | 79 |
| Average Price Per Sq. Ft. | $379 | $377 | $369 | $367 |
| Median Selling Price | $207,450 | $485,000 | $398,000 | $413,000 |
| Average Selling Price | $427,950 | $491,121 | $474,298 | $414,088 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 158.6 | 25.7 | 20.0 | 19.6 |
| Townhomes | Jan-09 | Nov-09 | Dec-09 | Jan-10 |
| New Listings | 8 | 14 | 11 | 26 |
| Total Listings | 67 | 67 | 54 | 67 |
| Sales Pending | 6 | 23 | 12 | 2 |
| Townhomes Sold | 11 | 15 | 27 | 4 |
| Listings Expired | 8 | 4 | 20 | 0 |
| Average Days on the Market | 115 | 59 | 67 | 65 |
| Average Price Per Sq. Ft. | $349 | $397 | $373 | $421 |
| Median Selling Price | $ 462,500 | $ 520,000 | $ 545,000 | $ 503,500 |
| Average Selling Price | $ 436,991 | $ 539,267 | $ 585,007 | $ 504,250 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 26.4 | 19.4 | 8.7 | 72.6 |
Year To Date Pasadena Real Estate Market Statistics:
[altos_chart st=”CA” cid=”1994″ zid=”2894335″ rt=”sf,mf” ra=”a” q=”a” left=”median_price” size=”m” timeSpan=”e” endDate = “2009-11-20” /] [altos_chart st=”CA” cid=”2018″ zid=”2898911″ rt=”sf,mf” ra=”a” q=”a” left=”median_per_sqft” size=”m” timeSpan=”e” endDate = “2009-11-20” /]July 2009 Real Estate Market Report:
See the latest Pasadena Real Estate Market and Housing Report for housing trends as of August 2009.
As expected, the volume of sales has increased dramatically from April to May.
Pasadena home sales increased by 20% from April and homes under contract are 23% higher. Average selling price increased a bit as well. Close to 100 new home listings came up on the market, but the inventory is still a bit under 300 homes.
Here’s a chart from Altos Research group with the historical look at Median prices of Pasadena homes:
As I published March 2009, Pasadena Real Estate Market Housing statistics and report, there were several key points that jumped out at me when I looked at the numbers:
1. The housing inventory is falling in every category – Pasadena homes, Pasadena condos and Pasadena townhomes. In a normal real estate market the inventory will pick up as we get closer to spring and summer months. The number of newly listed Pasadena properties stays the same, but the number of Pasadena home sales almost doubled in March 2009.
2. Absorption Rate – a key real estate statistic – is significantly lower for each of the tracked categories. Absorption rate is an indicator that sellers use to anticipate how long it will take to market their homes for sale. For example, looking at Pasadena single family homes, a Pasadena home seller should understand that if the rate of sales and current inventory remains the same, it will take them on average 21.7 weeks to sell their home. That’s a significant drop in home marketing time from 35.7 and shows a trend towards getting back to a more balanced real estate market.
3. The most significant change in pricing is seen at the Pasadena condo level. Now is the time to get excellent Pasadena condo deals. The price per square foot on a Pasadena condo is at an all time low of $315 per sq. ft. Take a look at Pasadena’s real estate market analysis for the last five years and you’ll see that we’re back to 2003 price levels.
Read the full Pasadena Real Estate Market Report for March 2009 here.
Real estate market Pasadena California statistics for January and February 2009:
nventory of Pasadena homes each month for both January and February almost doubled from December of 2008. More homes are available for sale and more homes are selling. February 2009 ended the month with 37 Pasadena homes sold and 57 homes under contract. This is very much in line with what I’ve been seeing with my clients. A lot of offers are being placed on homes and once again we are seeing multiple offers in homes under $500,000. It’s also interesting to note that single family residences (SFR) in Pasadena sold a bit over 97% of asking price.
The number of available Pasadena condos for sale doubled as well from the end of 2008. A huge increase in the number of Pasadena condos under contract from last year was seen in the month of February. This doesn’t surprise me since condos have experienced a more significant price drop. I was able to help my buyers purchase a condo last month in the South Lake Avenue district just steps from Macy’s for only $249,500. And the price included a seller concession of an additional $7,500 towards closing costs. Quite frankly, this type of purchase was impossible only a few months ago.
READ MORE: Complete statistics and inventory for Pasadena housing – beginning of 2009
Pasadena real estate market report for December 2008:
December has been uneventful for Pasadena’s real estate market. Inventory of homes and condos dropped from last several months to 250 homes and 158 condos. While the number of available Pasadena townhomes for sale increased to 76 units.
Since, there was an increase in the number of homes sold and the number of Pasadena sellers that decided to take their homes off the market, absorption rate dropped dramatically.
I expect that we will see a lot more Pasadena property listings hit the market in January since many home sellers wait until after the holidays to list their Pasadena home for sale. I also expect banks to start releasing foreclosures that they’ve been holding on to for book keeping purposes.
While prices have been basically flat over the last several weeks, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are becoming more available and Pasadena buyers are tending to get more home for their money.
Read More: Complete statistiscs for Pasadena real estate – December 2008
Interested in searching for Pasadena homes and condos for sale? Here’s a list of all available properties including foreclosures:
Pasadena Real Estate Market Statistics for October 2008 through December 2008:
| Single Family Residence |
Oct-08 | Nov-08 | Dec-08 |
| New Listings |
72 | 56 | 46 |
| Total Listings |
303 | 261 | 250 |
| Sales Pending |
61 | 29 | 40 |
| Homes Sold | 71 | 42 | 69 |
| Listings Expired |
54 | 53 | 83 |
| Average Days on the Market |
141 | 115 | 102 |
| Average Price Per Sq. Ft. |
$411 | $402 | $373 |
| Average Selling Price |
$811,092 | $699,591 | $760,146 |
| Median Selling Price |
$620,000 | $445,750 | $560,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
18.5 | 26.9 | 15.7 |
| Condos | Oct-08 | Nov-08 | Dec-08 |
| New Listings |
43 | 39 | 26 |
| Total Listings |
165 | 159 | 158 |
| Sales Pending |
26 | 7 | 22 |
| Homes Sold | 31 | 17 | 19 |
| Listings Expired |
16 | 27 | 29 |
| Average Days on the Market |
135 | 110 | 60 |
| Average Price Per Sq. Ft. |
$401 | $377 | $355 |
| Average Selling Price |
$442,758 | $428,641 | $410,363 |
| Median Selling Price |
$415,000 | $455,000 | $380,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
23.1 | 40.5 | 36.0 |
| Townhomes | Oct-08 | Nov-08 | Dec-08 |
| New Listings |
12 | 27 | 20 |
| Total Listings |
68 | 68 | 76 |
| Sales Pending |
3 | 10 | 13 |
| Homes Sold | 15 | 5 | 14 |
| Listings Expired |
10 | 5 | 26 |
| Average Days on the Market |
72 | 36 | 116 |
| Average Price Per Sq. Ft. |
$347 | $426 | $351 |
| Average Selling Price |
$ 544,820 |
$ 604,600 |
$540,214 |
| Median Selling Price |
$ 519,900 |
$ 575,000 |
$465,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
19.6 | 58.9 | 23.5 |
Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service)
Read More: going into escrow in October.
Pasadena real estate market report for October 2008:
Pasadena’s real estate inventory of homes has decreased in October to 127 units overall – inclusive of single family residences, condos and townhomes. It is not surprising as folks are getting ready for the holiday season and in the natural annual cycle of real estate, we expect to see less inventory to choose from. The sales have closed strongly in October at 117 units. Next month, we will see a marked decrease in this number as evidenced by the decline in the
This month, I was able to catpure the median Pasadena home sales price and will be adding that information to all future reports. Median home sales prices provide a more accurate picture since the median signifies that 50% of Pasadena homes sold for more and 50% of these homes sold for less. Hope that you will find it useful.
Market Action Indicator for Pasadena’s real estate is currently in the buyer’s zone though not strongly so. The 90-day Market Action Index stands this week at 22 so buyers should expect find reasonable levels of selection. Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.
The highest sold home in Pasadena for October was at 485 South Grand Avenue, a 4 bedroom/4 bath luxury estate with 6,000 sq. ft. on a 24,345 sq. ft. lot which sold for $4,300,000 at 95.56% of its asking price.
The lowest sold home in Pasadena for October was 476 East Mountain Street, a 1 bedroom and 1 bath with 624 sq. ft of a 2,580 sq. ft. lot whcihc sold for $233,000. This home sold over its original asking price of $226,900.
Overall, October’s single family residences sold at 95.20% of their asking price.
Housing Market Statistics for Pasadena California for August 2008 through October 2008:
| Single Family Residence |
Aug-08 | Sep-08 | Oct-08 |
| New Listings |
80 | 78 | 72 |
| Total Listings |
325 | 341 | 303 |
| Sales Pending |
43 | 95 | 61 |
| Homes Sold | 69 | 59 | 71 |
| Listings Expired |
36 | 59 | 54 |
| Average Days on the Market |
133 | 115 | 141 |
| Average Price Per Sq. Ft. |
$407 | $396 | $411 |
| Average Selling Price |
$923,986 | $751,228 | $811,092 |
| Median Selling Price |
$657,000 | $655,000 | $620,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
20.4 | 25.0 | 18.5 |
| Condos | Aug-08 | Sep-08 | Oct-08 |
| New Listings |
31 | 46 | 43 |
| Total Listings |
136 | 156 | 165 |
| Sales Pending |
9 | 38 | 26 |
| Homes Sold | 27 | 21 | 31 |
| Listings Expired |
22 | 35 | 16 |
| Average Days on the Market |
115 | 121 | 135 |
| Average Price Per Sq. Ft. |
$397 | $445 | $401 |
| Average Selling Price |
$515,896 | $459,540 | $442,758 |
| Median Selling Price |
$399,500 | $350,000 | $415,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
21.8 | 32.2 | 23.1 |
| Townhomes | Aug-08 | Sep-08 | Oct-08 |
| New Listings |
11 | 16 | 12 |
| Total Listings |
57 | 69 | 68 |
| Sales Pending |
6 | 18 | 3 |
| Homes Sold | 13 | 15 | 15 |
| Listings Expired |
4 | 12 | 10 |
| Average Days on the Market |
111 | 130 | 72 |
| Average Price Per Sq. Ft. |
$385 | $358 | $347 |
| Average Selling Price |
$ 597,477 |
$ 512,933 |
$ 544,820 |
| Median Selling Price |
$ 539,000 |
$ 500,000 |
$ 519,900 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
19.0 | 19.9 | 19.6 |
Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service).