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


READ MORE:  Pasadena real estate update 2012 – see luxury home sales.


Irina is a Top Realtor and the founder and President of Pasadena Views Real Estate Team™. She is available to assist you in all of your Real Estate transactions. Email or call her today at (626)629-8439.

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