Altadena Real Estate Report from July 2012 through September 2012
The months of July, August and September are busy real estate months in Altadena. We shall see how Altadena scored in the third quarter of 2012.
In July, we had 59 homes for sale, and 48 new listings were introduced to the market. August was 52 homes and 38 new listings. September, the for sale went up to 62 homes and 48 new listings.
Total of 111 homes went into escrow. Total of 102 homes were sold in the 3rd quarter. There were less than two months of inventory.
The average active price ~ July/ $846,000, August/ $753,000, September/ $712,000.
The average original list price ~ July/ $527,000, August/ $513,450, September/ $676,600.
The average square feet price ~ July/ $334, August/ $309, September/ $286.
17 properties were sold at/or over list price in July and September.
28 properties were sold at/or over list price in August.
Market Trend Data:
| Date | July 2012 | August 2012 | September 2012 |
| For sale | 59 | 52 | 62 |
| New listings | 48 | 38 | 48 |
| Pended | 33 | 36 | 42 |
| Sold | 31 | 37 | 34 |
| Month of inventory based on closed sale | 1.9 | 1.4 | 1.8 |
| Absorption rate based on closed sale (%) | 52.5 | 71.2 | 54.8 |
| Average Active price | $846,000 | $753,000 | $712,000 |
| Average Sold Price | $521,000 | $511,000 | $625,000 |
| Average Sq. Ft. Price | $334 | $309 | $286 |
| Sold to original list pricedifference (%) | 99 | 100 | 92 |
| Average Days on Market | 55 | 64 | 86 |
| Median Price | $480,000 | $425,000 | $445,000 |
| Highest Price | $965,000 | $1,450,000 | 3,975,000 |
| Lowest Price | $263,000 | $225,555 | $265,000 |
The least expensive home sold:
| Month | Address | Bed/Bath | SQ FT | Lot Size | Year |
| July | 2508 La Venzia ($263,000) | 2/1 | 1003 | 3228 | 1926 |
| August | 2206 Spaulding($225,555) | 2/1 | 878 | 4927 | 1041 |
| September | 140 W Terrace($265,000) | 3/1 | 1196 | 6558 | 1923 |
The highest priced home sold:
| Month | Address | Bed/Bath | SQ FT | Lot Size | Year |
| July | 2150 Holliston($965,000) | 4/4 | 3076 | 18,596 | 1911 |
| August | 3917 Lilac Canyon ($1,450,000) | 6/6 | 5128 | 7524 | 2001 |
| September | 1369 E Altadena ($3,975,000) | 7/8 | 12,828 | 68,953 | 1915 |
As I mentioned in the last Market Trend Report, there are many buyers looking to purchase a home. The low inventory is making it very challenging for many first time home buyers, especially dealing with multiple offer situations and competing with all cash buyers. I recommend working with your Realtor in writing a strategically prepared offer. Lastly, make sure you have a homebuyer’s consultation. The education you obtain from the usually free, no obligation, consult will allow you to make smart decisions and eliminate surprises during the escrow period.
Register for free to get all the listings from the Multiple Listing Service right here.
