Altadena real estate is still seeing an increase in home listings. Inventory is increasing, prices are going down and sales will be decreasing in the next couple of months. Take a look at the number of Altadena homes with accepted offers (sales pending) and you will see a significant decrease from 37 in June to 22 in October.
Starting with October 2008, I will be able to include the Median Sales Price which will help us in tracking the real estate market a bit more effectively.
In the meantime, Altadena is still in a very strong buyer's market.
Condos and townhomes in Altadena are still almost nowhere to be found, but for the persistent few who want to buy an Altadena condo there are a couple available for sale.
Altadena Real Estate Market Statistics for October 2008 with comparison to June and September:
|Single Family Residence||Jun-08||Sep-08||Oct-08|
|Average Days on the Market||116||139||129|
|Average Price Per Sq. Ft.||$378||$360||$321|
|Average Median Price||$460,000|
|Average Selling Price||$745,097||$553,587||$528,987|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||19.2||15.6||17.5|
|Condos and Townhomes||Jun-08||Sep-08||Oct-08|
|Average Days on the Market||12||n/a||n/a|
|Average Price Per Sq. Ft.||$431||n/a||n/a|
|Average Median Price||n/a||n/a|
|Average Selling Price||$535,000||n/a||n/a|
Real estate data based on information from ITEC (Pasadena Foothills Association MLS service)
SEE ALL ALTADENA HOMES FOR SALE IN MLS (MULTIPLE LISTING SERVICE):
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 real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.
Posted by Irina Netchaev, Real Estate Agent.