Pasadena At-A-Glance Real Estate Statistics – May 2011
Here’s a latest list of the newest home listings in Pasadena:
- Thu, 09 May 2024 14:03:00 +0000: $999,000 :: 307 Arlington Drive, Pasadena CA, 91105 - Pasadena Home Search
2 beds, 2 baths
Home size: 1,667 sq ft
Lot Size: 60,941 sq ft
Added: 04/29/24, Last Updated: 05/09/24
Property Type: Condo/Townhouse/Co-Op
MLS Number: P1-17445
Community: Pasadena (SW)
Status: Conditional
Welcome to this absolutely beautiful two bedroom, two bath townhome in one of Pasadena's mostsought-after areas. The gorgeous Mediterranean inspired Arlington Green development, designed byacclaimed architect Bob Ray Offenhauser, exudes elegance and grace. There are meandering paths, afragrant rose garden, climbing bougainvillea and a welcoming, sparkling pool all nestled between SouthOrange Grove's millionaire's row and the celebrated Arlington Garden that occupies a 3-acre botanicalparadise right next door. This is truly a sanctuary in the middle of town allowing you to feel as thoughyou have been transported to a far-off resort while having easy access to all the amazing shops andrestaurants Pasadena is known for.The interior has been impeccably remodeled throughout. You enter the residence via a formal entrythat leads up to the expansive landing that connects to the living room with a central fireplace. Thereare French doors that lead to the shaded, entertainer's patio that overlooks the park-like grounds thatsurround the unit. There is also a formal dining room that is ideally sited to offer views of the ceruleanblue pool below. The public spaces of the home have been beautifully redone from top to bottom. Thekitchen has high-end, stainless-steel appliances, gleaming granite counters and custom cabinetry. Thereare two spacious bedrooms, including a luxurious primary suite that has a spa-like bathroom with a largecloset, a dressing room, as well as a wide skylight that makes the space inviting, sunlit and bright. Inaddition, there are numerous amenities including wood floors, elegant crown molding, hand-craftedbuilt-ins, a laundry area and a full two-car garage.No detail has been overlooked. Don't miss the opportunity to be enchanted by this stunning example ofCalifornia living at its finest.
Listed with Dhari Thein CalDRE: 01403784 | (626) 437-7414, 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/! - Thu, 09 May 2024 11:30:00 +0000: $1,399,900 :: 484 N Daisy Avenue, Pasadena CA, 91107 - Pasadena Home Search
3 beds, 2 baths
Home size: 1,711 sq ft
Lot Size: 6,826 sq ft
Added: 04/25/24, Last Updated: 05/09/24
Property Type: Single Family
MLS Number: CV24082720
Community: Pasadena (NE)
The price of this listing was last increased on 5/9/2024 by 0%
Status: Active
Introducing 484 N Daisy Ave, Pasadena - a captivating residence nestled on a beautiful tree-lined street in the highly sought-after Daisy-Villa area. This home exudes charm and sophistication, offering an array of desirable features for modern living.Upon arrival, you're greeted by the inviting curb appeal of this meticulously maintained property. Step inside to discover a spacious living area adorned with a fireplace and a picturesque window, creating an inviting ambiance for gatherings and relaxation. Wood flooring graces the living room, dining room, hall, and two of the bedrooms, adding warmth and character to the interior.The recently remodeled kitchen is a chef's dream, boasting granite countertops, stainless steel appliances, and ample cabinetry for storage and organization. Adjacent to the kitchen, a cozy family room awaits, complete with indoor laundry and direct access to the rear yard oasis.Outside, a refreshing pool and spa beckon, offering the perfect setting for outdoor entertaining and leisure. Imagine hosting summer barbecues or enjoying a relaxing soak under the stars in your own private retreat. The finished detached garage can easily be converted in to an ADU or Pool House This home also features updated bathrooms, HVAC, plumbing, electrical, and a tankless water heater, providing peace of mind and modern convenience. Additionally, the back yard has been completed updated including custom lighting Conveniently located near shopping, dining, parks, and entertainment options, 484 N Daisy Ave epitomizes the quintessential Pasadena lifestyle. With its blend of timeless elegance and modern amenities, this home offers a rare opportunity to experience the best of Pasadena living. Don't miss your chance to make this remarkable property your own!
Listed with Eli Strickland CalDRE: 01991218 | 909-910-6654, RE/MAX INNOVATIONS
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/! - Thu, 09 May 2024 10:19:00 +0000: $1,129,000 :: 1462 Mentone Avenue, Pasadena CA, 91103 - Pasadena Home Search
2 beds, 2 baths
Home size: 1,120 sq ft
Lot Size: 6,060 sq ft
Added: 04/15/24, Last Updated: 05/09/24
Property Type: Single Family
MLS Number: P1-17246
Community: Pasadena (NW)
Tract: Not Applicable
The price of this listing was last increased on 5/1/2024 by 5%
Status: Conditional
This charming home is so special it deserves a name! Casa De Los Arbores is that special home that exudes quality, comfort, style and attention to details that's so rare to find. Meticulously redesigned and remodeled in 2017, and further enhanced by its current stuards, this Spanish bungalow pleases the senses in so many ways. From the lush, inviting gardens to the contemporary floor plan, to the entertainer's yard canopied by mature trees, to the courtyard and sanctuaries accented by decorative fountains; all create the experience of a private retreat away from the heart of the city. The thorough remodel was completed with quality craftsmanship and the highest consideration for modernization, and comfort. Included among the many upgrades are a well-proportioned master bedroom with walk-in closet, a second bedroom with large en-suite bathroom, all new copper plumbing, new electrical throughout, new HVAC, complete restructuring and subflooring, new roof, complete insulation (walls, attic and sub areas), all new stainless steel energy efficient appliances, new tankless water heater and LED recessed lights throughout. The custom built-ins, Kohler fixtures and sinks, honed black granite kitchen counters, marble bathroom floors and durable bamboo floors all combine to make this a home to be lived in and enjoyed for many years to come. Whether the busy professional, the artist, if looking for the perfect fit to downsize and unwind in, this lovely home is sure to be a complement to your chosen lifestyle.
Listed with Sarkis Aleksanian CalDRE: 01214017 | (626) 399-9060, 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/! - Thu, 09 May 2024 09:56:00 +0000: $1,050,000 :: 330 W California Boulevard #201, Pasadena CA, 91105 - Pasadena Home Search
3 beds, 3 baths
Home size: 1,754 sq ft
Lot Size: 43,491 sq ft
Added: 05/09/24, Last Updated: 05/09/24
Property Type: Condo/Townhouse/Co-Op
MLS Number: 24385043
Community: Pasadena (SW)
Status: Active
This spacious, sun-drenched 1754 sq ft. corner unit is located near the upscale Orange Grove neighborhood and Old Town Pasadena's Colorado Boulevard. Nestled within a secure, well maintained complex, this 3-bedroom, 3-bathroom residence boasts a spacious layout with lots of natural light. Upon entry through the grand double front doors, discover an inviting open concept living area that transitions to the outdoors through expansive sliding glass doors. A generously sized guest bedroom beckons with its own balcony access and ample storage, while the living room opens to an oversized balcony overlooking meticulously landscaped grounds as well. The well-appointed kitchen, complete with stainless steel appliances and ample cabinetry, promises culinary delight and functionality. Continuing down the hall, a second bedroom offers tree-lined views and ample closet space, accompanied by a conveniently located bathroom. At the end of the hallway, the primary suite awaits, offering a peaceful sanctuary with its spacious walk-in closet and additional storage solutions. This coveted unit also includes two side-by-side covered parking spots, ensuring convenience and security. Residents can further indulge in the luxury of top-tier amenities, including a rec room and sparkling pool for hot summer days. With the added assurance of 24-hour building security, relish in the peace of mind that comes with calling this exceptional residence your own. Singer Park with trees, paths and playgrounds is on 2.9 acres next door. Don't miss out on this rare opportunity to embrace a lifestyle of comfort and sophistication in the heart of Pasadena's most sought-after locale. Broker/Agent does not guarantee accuracy of square footage, lot size, zoning, rent control, permits, use code, schools and/or other information concerning the conditions or features of the property provided by the seller or obtained from public records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals.
Listed with Andrew R. Liberty CalDRE: 01965696 | 310-709-0581, 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/! - Thu, 09 May 2024 05:56:00 +0000: $5,200,000 :: 1265 Chateau Road, Pasadena CA, 91105 - Pasadena Home Search
6 beds, 7 baths
Home size: 5,955 sq ft
Lot Size: 33,171 sq ft
Added: 05/08/24, Last Updated: 05/09/24
Property Type: Single Family
MLS Number: TR24092755
Community: Pasadena (NW)
Status: Active
Perched majestically above the tranquil Annandale Golf Club on a quiet cul-de-sac, this extraordinary custom estate, envisioned by renowned architect Michael C. F. Chan, unfolds a timeless masterpiece of French neoclassical opulence. The home is approached through secured front gate and a cobbled circular motor court. The grand entrance, lit by skylights, sets the tone for the home’s elegant interior and opens to a magnificent curved staircase with custom brass railings. Descending a few steps, the living room reveals itself, boasting a limestone fireplace beneath a soaring 15-foot ceiling and a panoramic wall of large windows framing views of the garden and lap pool & spa. The adjacent formal dining room, adorned with a RH chandelier, offers vistas of both the side garden and the atrium with a fountain, creating a seamless blend of indoor and outdoor splendor. An elegant library/office, which can serve as a sixth bedroom, shares the atrium view downstairs. The gourmet kitchen, a triumph of culinary design, showcases top-tier appliances, including dual Miele dishwashers, a Wolf range and oven, and a Sub-Zero refrigerator. Marble-topped islands, granite countertops, custom oak cabinets, a built-in desk, and designer tile flooring complete the picture. The adjoining family room, with a marble fireplace and a mirrored wet bar with a wine fridge, opens onto the back terrace, featuring a convenient poolside bathroom. As you ascend to the upper level, you'll find two exquisite master suites, each boasting lavish baths. One of them includes a study room within the suite. Two additional bedrooms share a bath, with three of them offering enchanting views of the golf course. All upstairs bedrooms include unique tilt & turn windows. A separate guest suite, accessed by its own staircase to the north of the entry, offers a secluded haven for visitors above the 3-car garage. This is a unique opportunity to own a sanctuary of privacy and serenity in one of Pasadena's most prestigious locales. Close proximity to Old Town Pasadena, the Rose Parade route, Rose Bowl Stadium, top private schools, and easy access to multiple freeways further enhance the allure of this exceptional residence.
Listed with Ethan Jeng CalDRE: 01859720 | 888-584-9427, Exp Realty of California Inc
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).