Arcadia's real estate statistics and homes for sale data is below for your review. February showed a bit of a rebound in the price per square foot and broke through the $400 ceiling. Looks like home buyers have purchased smaller homes for a bit of a higher price per square foot, but kept their average purchase price in the low $1 million range.
These homes also sold faster, on average in just a month. However, the inventory is still pretty high at over 110 available homes for sale in Arcadia.
|Single Family Residence||Dec-09||Jan-10||Feb-10|
|Average Days on the Market||69||46||30|
|Average Price Per Sq. Ft.||$428||$388||$402|
|Median Selling Price||$975,000||$900,000||$824,900|
|Average Selling Price||$1,267,907||$1,052,588||$1,064,768|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||10.6||27.3||30.1|
|Average Days on the Market||73||87||78|
|Average Price per Sq. Ft.||$320||$344||315|
|Median Selling Price||$487,000||$635,000||445,000|
|Average Selling Price||$556,509||$675,000||467,388|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||7.9||37.6||26.0|
|Average Days on the Market||14||102||29|
|Average Price Per Sq. Ft.||$314||$315||313|
|Median Selling Price||$480,000||$723,000||443,000|
|Average Selling Price||$513,600||$712,667||464,500|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||6.9||14.4||18.8|
Looking at historical home pricing in Arcadia, it's clear that home buyers are getting good long term value and are building up home equity over time. The graph below shows that over the last 5 years, the median price increased by 8.8% from $615,000 to $659,000 overall. This is including single family homes, condos and townhomes.
Looking at the same data, but for single family home sales only in Arcadia, we see that the median purchase price increased by 18% over the last 5 years. Not too shabby.
|1 month||1 year||5 years|
|Jan 10||Feb 10||% Change||Feb 09||Feb 10||% Change||Feb 05||Feb 10||% Change|
Arcadia Foreclosure Homes Real Estate Update
What about Arcadia's foreclosure homes? Are they coming up for sale? Are banks willing to wheel and deal?
The problem is lack of inventory... yes... there should be a lot more Arcadia REO homes available for sale. But, just as we have seen with Pasadena foreclosure homes, the banks are taking their time going through the actual foreclosure process. Foreclosure Radar reports that on average, it took lenders 322 days in February to take a property from Notice of Default to a Closed Auction. It's almost 3 months longer than a year ago.
READ MORE: Steps to a foreclosure process
There are currently 138 Arcadia homes, condos or townhomes going through the foreclosure process. Only 7 homes are showing up as foreclosures available for sale in our MLS system.
Take a look at the available foreclosure homes below:
If you are interested in seeing all the details on these homes, please visit our Arcadia foreclosures for sale. These Arcadia home foreclosure listings in this post are updated every few hours.
If you have any questions about the real estate market in Arcadia or the greater Pasadena area, please give us a call at 626-629-8439.
PasadenaViews Real Estate Team
Pasadena Real Estate Agents