Pasadena At-A-Glance Real Estate Statistics – May 2011
Here’s a latest list of the newest home listings in Pasadena:
- Tue, 16 Sep 2025 13:42:00 +0000: $920,000 :: 159 W Green Street #408, Pasadena CA, 91105 - Pasadena Home Search
2 beds, 2 baths
Home size: 1,190 sq ft
Lot Size: 0 sq ft
Added: 09/14/25, Last Updated: 09/16/25
Property Type: Condo/Townhouse/Co-Op
MLS Number: P1-24124
Community: 648 - Pasadena (SE)
Tract: Not Applicable
Status: Active
Modern Luxury Living in the Heart of Old Town Pasadena!This spacious 2-bedroom, 2-bath condo features an open-concept 1,190 SF floor plan with a bright living room, recessed lighting, and a well-appointed kitchen. The primary suite includes a modern en-suite bath, while the versatile second bedroom is perfect as a guest room or home office. Additional highlights include in-unit laundry and two side-by-side prime parking spaces in a secure garage.Set in a modern building on the historic corner of Green St. and Pasadena Ave., residents enjoy beautifully designed common spaces and premium amenities, including a fitness center GYM, rooftop patio with sunset views, and a serene courtyard.A superb location just steps from world-class dining, upscale shopping, and vibrant entertainment along Colorado Blvd. in Old Town Pasadena. Enjoy the ultimate in walkable city living with easy access to Downtown Los Angeles and beyond.Minutes to Caltech, JPL, Whole Foods, Trader Joe's, and major freeways--this condo combines luxury, convenience, and the vibrant charm of Old Pasadena.
Listed with Luis Montejano CalDRE: W | 323-333-0011, Metzo Realty 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/! - Tue, 16 Sep 2025 13:27:00 +0000: $599,000 :: 125 N Allen Avenue #312, Pasadena CA, 91106 - Pasadena Home Search
2 beds, 2 baths
Home size: 1,147 sq ft
Lot Size: 51,218 sq ft
Added: 09/02/25, Last Updated: 09/16/25
Property Type: Condo/Townhouse/Co-Op
MLS Number: PW25195065
Community: 648 - Pasadena (SE)
The price of this listing was last reduced on 9/16/2025 by 8%
Status: Active
Nestled in one of Pasadena's most sought-after neighborhoods, this immaculate 2-bedroom, 2-bath condo offers a perfect blend of peace and modern convenience. Whether you're looking to unwind or entertain, this thoughtfully designed home provides a serene escape while staying close to the vibrant city life. Unit 312 welcomes you with a spacious living room featuring a cozy decorative fireplace, and large sliding glass doors that lead to a private rear patio overlooking the pool and lush landscaped grounds. The open-concept layout connects a dedicated dining area to a well-equipped kitchen with ample counter space and storage. A stylish bathroom adds extra convenience for guests. The living area also opens to a private balcony"”ideal for morning coffee or unwinding in the evening. Both bedrooms are generously sized, perfect for hosting guests or setting up a home office. The primary suite serves as a true sanctuary with a sun-filled bedroom and en-suite bathroom. Enjoy resort-style amenities including a sparkling community pool, fitness center, saunas, onsite laundry, and two tandem parking spaces. The beautifully maintained complex also features an inviting lobby and serene green spaces. Just minutes from Colorado Boulevard, this prime location puts you close to Pasadena's best shopping, dining, and entertainment. Don't miss your chance to own this rare combination of comfort, style, and convenience.
Listed with Elizabeth Ramirez CalDRE: N | , Bricxone Realty, 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/! - Tue, 16 Sep 2025 10:00:00 +0000: $1,600,000 :: 250 S Berkeley Avenue, Pasadena CA, 91107 - Pasadena Home Search
5 beds, 1.75 baths
Home size: 2,094 sq ft
Lot Size: 7,184 sq ft
Added: 06/19/25, Last Updated: 09/16/25
Property Type: Single Family
MLS Number: P1-22831
Community: 648 - Pasadena (SE)
The price of this listing was last reduced on 8/26/2025 by 5%
Status: Active
A wonderful Traditional Cape Cod home in a prime location nestled on a picturesque street in one of Pasadena's most coveted neighborhoods. This spacious single level residence offers timeless elegance and comfort just minutes from Cal Tech, The Huntington Library, Art Museum & Botanical Gardens, shopping & dining along Lake Avenue. Boasting five generously sized bedrooms and two well-appointed bathrooms (1 full and 1 three quarter), the home features a desirable central hall floor plan that seamlessly connects the living spaces. The sun drenched living room is a warm and inviting space, complete with a wood burning fireplace and expansive windows that fill the room with natural light. Entertain guests in the formal dining room, adorned with a stunning chandelier and framed by two large windows. The kitchen offers classic- wood cabinetry, granite countertops and backsplash, modern appliances and a convenient breakfast bar that opens into a breakfast room featuring charming built-in shelves & cabinetry. Adjacent to the kitchen is a laundry room with washer & dryer hookups, access to the California basement (9.5 X 8) and an exterior door to the driveway. Primary bedroom is spacious enough to accommodate a king-sized bed with additional furnishings and includes a walk-in closet. A secondary bedroom with the convenience of an ensuite three quarter bath, while a full bathroom serves the additional bedrooms. The fourth and fifth bedrooms are situated at the rear of the home, offering peaceful backyard views-perfect for guests or home office. Additional highlights include central air and forced air heating system throughout. There is a second rear exit leading to a covered patio , backyard with a grassy area and mature fruit trees. (Orange & Tangerine ). Ideal for entertaining or relaxing! The detached two car oversized garage is located at the rear of the property, is complemented by an extended driveway with ample parking for multiple vehicles. This rare gem offers comfort, space and an unbeatable location-truly a special opportunity to own a home that blends classic details with everyday functionality. Don't miss your chance to see this Pasadena treasure!
Listed with Barbara Campanella CalDRE: S | 626-523-2826, Coldwell Banker 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/! - Tue, 16 Sep 2025 08:57:00 +0000: $1,435,000 :: 525 E Jackson Street, Pasadena CA, 91104 - Pasadena Home Search
4 beds, 3 baths
Home size: 2,198 sq ft
Lot Size: 10,464 sq ft
Added: 06/27/25, Last Updated: 09/16/25
Property Type: Single Family
MLS Number: OC25144639
Community: 645 - Pasadena (NW)
The price of this listing was last reduced on 9/16/2025 by 3%
Status: Active
Looking for a project with an incredible payoff? This 1920s Craftsman, on the market for the first time in 54 years, is a rare find in the historic Orange Heights neighborhood. This home is a complete fixer-upper and a blank canvas for a visionary buyer. While it needs a top-to-bottom renovation, its original soul is intact, offering a truly unique opportunity to restore a piece of history. This property may qualify for the Mills Act, which could provide a massive property tax reduction, making this a smart long-term investment. The home retains many of its original features, including stained-glass windows, Batchelder tile fireplace, and intricate built-in cabinets with leaded-glass fronts. The hardwood floors, sanded only twice in over five decades, are ready to be stripped and brought back to life. The kitchen requires a full gut and remodel, and the entire home is a blank slate. The floor plan includes a main-level living room, a formal dining room, one bedroom, and a full bath. A sunroom offers a small retreat, and a half basement provides extra storage. Upstairs, there are three bedrooms and a full bath, with the potential to convert the space back into a large primary suite. The oversized lot includes a private yard with a large pool, perfect for entertaining. The detached Accessory Dwelling Unit (ADU) has a full bath and kitchenette, offering possibilities for rental income, a studio, or a guest house or take it down and use it for outdoor entertaining space ! The property has some recent updates, including replaced sewer lines under the house, new pipes from the 1990s, and a water heater from three years ago. The roof was inspected and repaired in 2024. The property also includes an original garage, a shed, and a storage barn. This is more than a house; it's a chance to embark on an incredible restoration project and own a home with both historic significance and huge potential.
Listed with Karyn Sontag CalDRE: E | 949-290-2129, Keller Williams OC Coastal 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/! - Tue, 16 Sep 2025 06:05:00 +0000: $755,000 :: 382 E California Boulevard #101, Pasadena CA, 91106 - Pasadena Home Search
2 beds, 2 baths
Home size: 1,331 sq ft
Lot Size: 21,841 sq ft
Added: 08/07/25, Last Updated: 09/16/25
Property Type: Condo/Townhouse/Co-Op
MLS Number: PF25177913
Community: 647 - Pasadena (SW)
Status: Active
Experience the best of Pasadena living! Nestled in the sought-after Madison Heights neighborhood, this condo offers the perfect blend of city convenience and serene treetop views. With an impressive Walk Score of 80, you're just a short stroll northeast to Lake Avenue or northwest to Old Town Pasadena"”where you'll find The Paseo mall, charming boutiques, acclaimed restaurants, museums, spas, the Playhouse District, movie theaters, sought after schools and colleges. Step inside to a bright, open-concept entry and living room that flows seamlessly to your private balcony"”perfect for morning coffee or evening relaxation. The spacious dining area sits beside a well-appointed galley kitchen featuring a dishwasher, microwave, and gas stove. The first bedroom boasts a generous double closet, while the hall bath includes an oversized vanity and extra storage. The primary suite offers the luxury of a double walk-in closet and a private bath with another oversized vanity and even more storage space. Located just across the hall from the elevator, you'll enjoy easy access"”only one floor down to the lobby, garage entry, and your two tandem parking spaces (#4). Community amenities include a fitness center, meeting room, and laundry facilities. City living, tree-top tranquility, and unbeatable location"”it's all here waiting for you!
Listed with Todd Lethbridge CalDRE: E | 626-376-3231, TODD REAL ESTATE
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).