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Altadena Real Estate Market and Housing Report for January 2009

Altadena is experiencing an increase in inventory and foreclosures for sale. Opportunities for Altadena home buyers exist.

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:

Single Family Residence	Nov-08	Dec-08	Jan-09
New Listings	15	20	25
Total Listings	100	80	105
Sales Pending	18	5	22
Homes Sold	17	24	28
Listings Expired	13	24	14
Average Days on the Market	85	98	151
Average Price Per Sq. Ft.	$314	$311	$310
Average Median Price	$360,000	$469,350	$540,679
Average Selling Price	$543,082	$255,000	$273,500
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	25.5	14.4	16.3

Condos and Townhomes	Nov-08	Dec-08	Jan-09
New Listings	0	0	2
Total Listings	0	0	2
Sales Pending	1	0	1
Homes Sold	1	0	1
Listings Expired	0	0	0
Average Days on the Market	93	n/a	25
Average Price Per Sq. Ft.	$206	n/a	$333
Average Median Price	$220,000	n/a	$277,000
Average Selling Price	$220,000	n/a	$277,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	0.0	n/a	8.7

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

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

http://www.pasadenacarealestatehomes.com/009478