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Altadena Market Trends January through June 2012

Altadena Real Estate Market – January 2012 through June 2012

Has the market bounced back?  It sure feels like it in our community.  Altadena real estate market is moving and shaking.  Open houses are full with buyers and we even see buyers sneaking into the weekly broker’s open houses trying to take a look before the SAT/SUN public open houses.

Competition is fierce with multiple offers on new listings that enter the market, especially properties priced to sell and staged like the HGTV show.

With low interest rates and affordability rising, waiting for the price to bottom out seems a gone by story.

That being said, let’s look at the market trends in Altadena, situated just north Pasadena, CA.

In January, we had 92 homes for sale.  That started to diminish as we got into the year, with only 57 homes available for sale in June.  New listings stayed somewhat the same, and homes sold have definitely increased over the 6 months.  Pending sales in January was 25, and up to 47 in June.

The average active listing price has changed from $557,000 in January to $850,000 in June.   Average square feet price increased from $283 per SF to $308 per SF in June.  The average sold price to original list price was 95.33% 

See below for additional stats in Altadena.

Date Jan 2012 Feb 2012 Mar 2012 Apr 2012 May 2012 June 2012
For sale 92 88 83 73 72 57
New listing 55 44 46 43 49 45
Sold 28 28 22 29 31 44
Pending 25 35 32 42 38 47
Average active price 557,000 565,000 647,000 728,000 741,000 850,000
Average sold price 417,000 515,000 490,000 530,000 566,000 569,000
Average Sq Ft Price 283.00 287.00 291.00 318.00 288.00 308.00
Sold/List Price Diff % 97 97 98 98 98 101
Sold/OriginalList Price % 96 92 94 98 95 97
Days on Market 61 87 57 61 78 75
Median Price 370,000 429,000 461,000 405,000 481,000 418,000

*All reports are published Jul. 2012, based on data available at the end of Jun. 2012. All reports presented are based on data supplied by CARETS. CARETS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by CARETS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. Statistics from TrendVision, Itech MLS.

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