In reviewing the last four months of Arcadia’s real estate market activity, it was interesting to note that the price per square foot of sold homes has remained fairly constant throughout the summer for all types of housing. The number of homes sold during July was the highest which is in line with the cyclical nature of real estate driven by summer moves and parents not wanting to disrupt their kids with school changes.
The inventory of Arcadia homes for sale is beginning to decrease which is a good sign since at the height of the summer season, we had over 22 weeks of absorption of existing homes on the market.
Arcadia real estate is still very clearly a buyers market and I anticipate it will remain a buyers market throughout the slower winter months.
In August, 31 SFR (Single Family Residences) sold at 95.16% of asking price. Having said that, the asking price of 9 of these homes was reduced from the original price and that was not included in the calculation of this statistic. A lot of Arcadia home sellers are still not realistic in setting their home prices and are overpricing their homes thereby chasing the market down and losing more money in the end.
If you are not a motivated seller, don’t put your home on the market and save yourself a lot of grief.
Altos Research group after analyzing the Arcadia real estate market says the following:
“Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.”
Read More: Arcadia Real Estate statistics – October 2008
Here’re the last four months of real estate market statistics for Arcadia, California:
| Single Family Residence | May-08 | Jun-08 | Jul-08 | Aug-08 |
| New Listings | 77 | 46 | 48 | 31 |
| Total Listings | 156 | 157 | 132 | 106 |
| Sales Pending | 20 | 48 | 22 | 16 |
| Homes Sold | 27 | 30 | 50 | 31 |
| Listings Expired | 23 | 16 | 28 | 19 |
| Average Days on the Market | 80 | 193 | 93 | 188 |
| Average Price Per Sq. Ft. | $420 | $414 | $431 | $416 |
| Average Selling Price | $972,274 | $991,057 | $917,052 | $1,007,310 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 25.0 | 22.7 | 11.4 | 14.8 |
| Condos | May-08 | Jun-08 | Jul-08 | Aug-08 |
| New Listings | 6 | 5 | 8 | 4 |
| Total Listings | 18 | 20 | 20 | 17 |
| Sales Pending | 4 | 3 | 2 | 3 |
| Condos Sold | 3 | 5 | 7 | 5 |
| Listings Expired | 6 | 1 | 2 | 2 |
| Average Days on the Market | 153 | 98 | 74 | 153 |
| Average Price per Sq. Ft. | $299 | $343 | $315 | $303 |
| Average Selling Price | $503,296 | $559,300 | $475,357 | $456,800 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 26.0 | 17.3 | 12.4 | 14.7 |
| Townhomes | May-08 | Jun-08 | Jul-08 | Aug-08 |
| New Listings | 10 | 16 | 16 | 6 |
| Total Listings | 33 | 34 | 35 | 20 |
| Sales Pending | 8 | 14 | 6 | 1 |
| Townhomes Sold | 15 | 6 | 18 | 7 |
| Listings Expired | 2 | 8 | 7 | 11 |
| Average Days on the Market | 111 | 80 | 86 | 83 |
| Average Price Per Sq. Ft. | $329 | $353 | $316 | $349 |
| Average Selling Price | $579,700 | $579,333 | $553,111 | $603,571 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 9.5 | 24.6 | 8.4 | 12.4 |
See all current Arcadia properties on the market in the Multiple Listing Service (MLS) below:
SEARCH ARCADIA HOMES FOR SALE (Single Family Residence)
SEARCH ARCADIA CONDOS AND TOWNHOMES FOR SALE
Data taken from ITEC (Pasadena Foothills Association MLS service)
- Fri, 03 Feb 2012 17:06:00 +0000: $649,000 :: 1012 North 1st Avenue, Arcadia CA, 91006 - Arcadia Condos and Townhomes
3 beds, 3 full baths
Home size: 2,094 sq ft
Lot Size: 0 sq ft
Added: 02/03/12, Last Updated: 02/03/12
Property Type: Condominium, Residential
MLS Number: A12015656
Community: Arcadia
Beautiful PUD in North Arcadia built in 2002 with upgrades. This home features 3 bedrms/3 full bathrms and a bonus den/office. The open floor plan provides for 2,100 Sq.Ft. living space (approx), brightly lit by natural lighting. The entry way has a high ceiling, marble floors throughout the entry and living room, the fireplace makes a great focal point in the living room. Updated kitchen with garden window, granite countertops and custom cabinets with frosted glass, the breakfast bar by the formal dining room has a view of the patio. Upstairs is the family room which provides more room for entertaining. The master suite has a large walk in closet and master bathroom with spa tub, dual sinks and a vanity area. Enjoy all the details of this home, built in fire sprinkler system, recessed lighting, custom drapes, etc. There is an attached 2-car garage with direct access into the home plus an extra parking space. Just minutes from Highland Oaks and Foothill Middle Schools.
Listed with Peggy Fong Chen, Coldwell Banker Arcadia
Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com! - Thu, 02 Feb 2012 15:53:00 +0000: $488,000 :: 910 LA CADENA #1, Arcadia CA, 91007 - Arcadia Condos and Townhomes
3 beds, 1 full, 2 part baths
Home size: 1,548 sq ft
Lot Size: 10,571 sq ft
Added: 09/17/11, Last Updated: 02/02/12
Property Type: Townhouse, Residential
MLS Number: A11123756
Community: Arcadia
The price of this listing was last reduced on 12/9/2011 by 2%
BACK ON MARKET. PRICE REDUCED $40,000. Beautiful townhome located in the heart of Arcadia. Walking distance to schools (Holly elementary and Arcadia high), Santa Anita Mall, 99 Ranch market, LA Fitness, restaurants, bank and more... 3 bedrooms (1 large master bedroom with mountain view balcony), 2.5 bath with 1548 square feet floor plan. Very low HOA fee includes: inside/outside water, fire insurance, trash, garden maintenance. Brand new cabinet and granite countertop in garage, looks very nice. Total of 4 units in beautiful community, 2 are attached. Don't miss this one!
Listed with Lisa Jin, Treeline Realty & Investment
Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com! - Thu, 02 Feb 2012 11:35:00 +0000: $412,000 :: 1146 Arcadia Avenue #C, Arcadia CA, 91007 - Arcadia Condos and Townhomes
2 beds, 2 full, 1 part baths
Home size: 1,390 sq ft
Lot Size: 76,818 sq ft
Added: 02/02/12, Last Updated: 02/02/12
Property Type: Condominium, Residential
MLS Number: A12014774
Community: Arcadia
ARCADIA SCHOOLS! Location, Location, Location! Fantastic townhome with tiled entry and laminate wood floors at main level living room and dining room.. Kitchen boasts granite countertops, new stainless steel dishwasher, stove/oven & microwave hood.. Bright and airy floorplan.. Master bedroom suite features mirrored wardrobe doors, sliding glass door which leads to a private balcony and tiled bathroom floor.. Second bedroom has a large closet and private balcony.. Nice hall bath with tile floors.. Laundry closet at upstairs hallway for convenience.. Private patio sized yard accessible from Dining room and Living room, great for entertaining.. Two car garage, 1 can be used as front patio/yard.. Walking distance to groceries, restaurants and shops! HOA $240/month includes: water, trash, gardener, fire insurance, earthquake, pool, spa, recreation room!
Listed with Bobby Lee, IRN Realty
Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com! - Wed, 01 Feb 2012 18:04:00 +0000: $335,000 :: 471 W Duarte Rd 109, Arcadia CA, 91007 - Arcadia Condos and Townhomes
2 beds, 1 full, 1 part baths
Home size: 1,375 sq ft
Lot Size: 55,924 sq ft
Added: 01/27/12, Last Updated: 02/01/12
Property Type: Condominium, Residential
MLS Number: P810129
Community: Arcadia
Tract: 0 (OTHR)
The price of this listing was last reduced on 2/2/2012 by 1%
STANDARD SALE!!! Spacious floor plan with big master bedroom, completely remodeled, beautiful brick fire place in the living room, great school district, perfect location that won't last, must see!
Listed with Christian Fernandez, Inc Real Estate
Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com! - Wed, 01 Feb 2012 17:33:00 +0000: $69,900 :: 1025 W Huntington Dr E, Arcadia CA, 91007 - Arcadia Condos and Townhomes
2 beds, 2 full, 1 part baths
Home size: 1,179 sq ft
Lot Size: 0 sq ft
Added: 10/15/11, Last Updated: 02/01/12
Property Type: Condominium, Residential
MLS Number: S676922
Community: Arcadia
Tract: Custom (CUST)
The price of this listing was last reduced on 1/30/2012 by 13%
Why rent when you can buy? Cute townhome, 2 master bedrooms + loft, spacious living room & kitchen, side yard, 2 attached car garages, end unit (conveniently located on Huntington Dr. but last end unit, away from the traffic noise). Land lease ~$671 per month, need to renew year 2028. HOA of $231 per month includes the water & trash. CASH OFFERS ONLY. Great floor plan, with some remodeling will make this a very comfortable home! Come see for yourself!
Listed with Alisha Chen, Cornerstone Real Estate Intern
Brought to you by Irina Netchaev, John Aaroe Group. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com!
