Pasadena Real Estate

No surprises in January 2009 for South Pasadena's real estate market.  For the most part, the activity picked up a bit and the inventory decreased for both condos and townhomes as well as South Pasadena single family homes.  Low interest rates helped South Pasadena home buyers afford to buy more home for their money. 

Most single family South Pasadena homes closed 5 to 11% below asking price.  Home sellers are still over pricing their homes at $510 per square foot on average vs. the $430 that these homes are closing at.

Highest priced home is at 851 Lyndon in South Pasadena priced at $3,450,000 and has been on the market for over 4 months now.

Lowest priced South Pasadena home is at 1823 Gillette and is priced at $550,000.

Learn more about South Pasadena by visiting our South Pasadena City Guide.

READ MORE:  South Pasadena real estate statistics and analysis for 2003-2008

South Pasadena real estate market statistics and trends for November 2008 through January 2009:

Information gathered from ITEC (Pasadena Foothill Association Multiple Listing Service)

Search all South Pasadena properties on the market below:

South Pasadena real estate market activity with real time updated data can be found on Pasadena California Real Estate Blog's How is the Real estate Market tab. These South Pasadena real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Read More: November South Pasadena Real Estate Market Report

Read More: South Pasadena Real Estate market report for December 2008

Posted by Irina Netchaev, Pasadena Real Estate Agent.

Monterey Hills condo and townhome inventory is almost non-existent in January.  Two new condos came up on the market and two condos closed escrow. Only one townhome is available for sale on the hill.

Considering there are 21 condo complexes with close to 1,800 condo and townhome units, the supply of condos isn't quite there.  The demand is not quite there as well with price per square foot falling to $277.

It'll be interesting to track the developments on the hill over the next few months.  In the meantime, here're Monterey Hills statistics for the last three months:

Search for available Monterey Hills condos and townhomes:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

Here's a quick summary of statistics for the San Marino Real Estate market.  The full post with commentary can be found on the San Marino California real estate site.

Here's what the San Marino Statistics for the last three months looked like - November 2008 through January 2009:

Data above compiled from ITEC (Pasadena Foothill Association of Realtors and Multiple Listing Service)

Read More: San Marino real estate statistics for December 2008

San Marino Real Estate - Five Years in Review

To see homes available for sale in San Marino, take a look at the list below:

January has seen a 31% increase in homes for sale in Altadena California.  The inventory stands at 105 single family residences and 2 condos and townhomes.  The number of Altadena foreclosures is on the rise 25 out of 105 houses for sale are either foreclosures or short sales, with 5 new foreclosures hitting the market in January.

This is not surprising since the banks are releasing their foreclosures after the first of the year and we expect to see that number rise over the next few months. 

Price per square foot of sold homes is holding it's own in Altadena at $310 per sold sq. ft.

Los Angeles Times Dataquick service reports that Altadena ended 2008 with 356 sales at an average price of $509,500 which represents a 19.19% decrease in average sales price from 2007.

There are certainly Altadena home deals to be found for home buyers and a nice home can now be found in the $400,000 range.

Altadena Real Estate statistics for November 2008 through January 2009:

Data above is compiled from the Pasadena Foothill Association MLS (Multiple Listing Service)

READ MORE:  How does January's report compare to the August 2008 statistics for Altadena Real Estate?

Below is a list of all Altadena homes for sale in the Multiple Listing Service. To get notified of new Altadena listings as they come up on the market, please register for a free VIP account and set up your own Altadena home criteria and as many searches as you would like:

To search Altadena foreclosures, as well as, foreclosures in Pasadena and surrounding cities, please see the list below:

I invite you to request Altadena's real estate market real time reports by clicking How's the Market button on my real estate blog. These reports are compiled by Altos Research and the analysis is emailed to you weekly. I also offer real estate market reports for San Gabriel, San Marino, South Pasadena, Pasadena, Arcadia, Altadena, Monterey Hills and more.

If you would like to search for homes in Altadena, please visit the free home search here on this real estate website.

For a private consultation about buying or selling your Alhambra home, or if you have other real estate related questions, I'd love to hear from you at 626.627.7107.

Posted by Irina Netchaev, real estate broker

In reviewing the market statistics for Alhambra real estate, it is clear that 2009 started strong with almost double the home sales and Alhambra homes that went under contract compared to the last several months of 2008.

It's interesting to note that 14 homes came up on the market for sale in Alhambra and only one of the 14 is a short sale.  There were no new foreclosure homes.

READ MORE:  Why foreclosure homes are not what you think they are!

Alhambra home sellers that listed their homes for sale in January were much more realistic in their pricing with the average price per square foot running at $354 vs. the homes that have been marketted prior to January averaging closer to $385 per sq.ft.  Compare that to actual home sales at $322 per sq. ft. in January. 

Interest rates were the lowest in 50 years hitting to below 5% which encouraged buyers to finalize their home purchase and take advantage of low prices as well as low monthly payments.

The highest priced home available for sale in Alhambra is at 1301 Hoeffer Drive listed for $1,890,000.  It's a 5 bedroom home with 3,600 sq. ft. and was built in 2008.

The lowest priced home available for sale in Alhambra is at 1304 Milton Avenue and is offered for sale at  $319,000.  This home is 740 sq. ft. and has 2 bedrooms and 1 bath.

Alhambra condos had no sales at all in January.  Although 9 Alhambra condos went under contract in January 2009 compared to only 2 in December 2008.  The inventory is remaining pretty constant at 30 available units, but priced fairly high at $324 per sq. ft. 

2 Alhambra townhomes closed escrow in January and only 1 townhome went under contract.  13 Alhambra townhomes are available for sale.

I anticipate condos and tonwhomes in Alhambra dropping in value pretty fast given the amount of inventory and the rate of sales.  If everything remains constant, it'll take Alhambra condo sellers over a year and half to sell their homes!  Alhambra home sellers need to realize that time is not their friend.  Each day their home stays on the market, it will value less and less.  Only sell your Alhambra home if you are serious and need to sell!  Don't torture yourself with placing your home on the market at an unreasonable price.

Here's the Alhambra real estate data for the last three months for your review (November 2008 through January 2009):

If you are interested in seeing all current Alhambra homes for sale, see the list below.

Feel free to sign up for a VIP membership which will allow you to save home searches and be notified via email every time a new Alhambra home is listed with your saved criteria.

If you are interested in seeing all foreclosures in Alhambra and surrounding cities, see the list below:

Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service)

I invite you to request Alhambra's real estate market real time reports by clicking How's the Market button on my real estate blog.  These reports are compiled by Altos Research and the analysis is emailed to you weekly.  I also offer real estate market reports for San Gabriel, San Marino, South Pasadena, Pasadena, Arcadia, Altadena, Monterey Hills and more.

If you would like to search for homes in Alhambra, please visit the free home search here on this real estate website.

For a private consultation about buying or selling your Alhambra home, or if you have other real estate related questions, I'd love to hear from you at 626.627.7107.

Posted by Irina Netchaev, real estate broker