Arcadia home sales came to a standstill in October. The number of new properties on the market increased for all categories - homes, condos and townhomes. The total number of units increased and the absorption rate is the highest it's been in awhile.

Interestingly enough, when I am out looking for homes in Arcadia under $1 million with my clients, we are having a difficult time finding decent properties iln that less than $1 million range. These homes tend to sell fairly quickly if they are in good condition and priced appropriately for the market. The homes over $1 million are being marketed much longer even if the price per square foot is reasonable. Partly, this has to do with the difficulty of obtaining financing and the higher down payment requirements that banks are requiring Arcadia buyers to put down.

Read More: California Housing Outlook by CAR (California Association of Realtors) Chief Economist

Back to statistics - Arcadia homes that are currently offered for sale are priced at an average of $451 per square foot. The solds tell the story of why these homes are sitting on the market for so long - Arcadia homes that closed escrow, sold for $378 per sq. ft. in October. There are also 6 foreclosures or bank owned properties available for Sale in Arcadia now.

The lowest priced Arcadia home on the market in October was 11314 E La Rosa Street. It is offered at $410,000 and has 3 bedrooms and 2 baths with 1,400 sq. ft.

The most expensive Arcadia home in October was 330 West Naomi Avenue. Offered at $3,680,000, it has 7 bedrooms and 8 baths and has an amazing 8,166 sq. ft.

If you are interested in searching Arcadia homes currently on the market and listed in the MLS (Multiple Listing Service), take a look at the direct MLS access below:

If you are interested in searching Arcadia homes currently on the market that are bank owned or in foreclosure status, you can see them below:

Arcadia Real Estate Housing Statistics for August 2008 - October 2008:

Single
Family Residence
Aug-08 Sep-08 Oct-08
New
Listings
31 42 55
Total
Listings
106 129 152
Sales
Pending
16 22 22
Homes Sold 31 31 21
Listings
Expired
19 26 25
Average Days
on the Market
188 56 134
Average
Price Per Sq. Ft.
$416 $427 $378
Median
Selling Price
$825,000 $808,000 $780,000
Average
Selling Price
$1,007,310 $951,542 $900,643
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
14.8 18.0 31.4
Condos Aug-08 Sep-08 Oct-08
New
Listings
4 7 18
Total
Listings
17 19 30
Sales
Pending
3 3 1
Condos Sold 5 8 3
Listings
Expired
2 9 3
Average Days
on the Market
153 138 92
Average
Price per Sq. Ft.
$303 $292 $327
Median
Selling Price
$435,000 $541,500 $385,000
Average
Selling Price
$456,800 $502,350 $411,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
14.7 10.3 43.3
Townhomes Aug-08 Sep-08 Oct-08
New
Listings
6 15 11
Total
Listings
20 32 29
Sales
Pending
1 8 5
Townhomes Sold 7 7 3
Listings
Expired
11 5 7
Average Days
on the Market
83 55 123
Average
Price Per Sq. Ft.
$349 $293 $338
Median
Selling Price
$539,000 $630,000 $680,000
Average
Selling Price
$603,571 $581,698 $635,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
12.4 19.8 41.9

Data taken from ITEC (Pasadena Foothills Association MLS service)

SEARCH
ARCADIA HOMES FOR SALE (Single Family Residence)

SEARCH
ARCADIA CONDOS AND TOWNHOMES FOR SALE

For weekly updates on Arcadia
real estate market activity
, please feel free to request market
analysis reports with detailed information by clicking here to be taken to the market analysis website page. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.