Monterey Hills condos and townhomes are definitely feeling the downturn in the economy. Only 2 Monterey Hills condos and 1 townhome sold in December. The listing inventory is very low as well. Less than a dozen properties are available for sale. Take a look at the real estate statistics for the last quarter of 2008 below.
Monterey Hills Real Estate Statistics for October 2008 to December 2008:
Condos | Oct-08 | Nov-08 | Dec-08 |
New Listings |
1 | 0 | 4 |
Total Listings |
10 | 8 | 7 |
Sales Pending |
2 | 1 | 0 |
Homes Sold | 3 | 4 | 2 |
Listings Expired |
4 | 0 | 1 |
Average Days on the Market |
75 | 100 | 24 |
Average Price Per Sq. Ft. |
$268 | $298 | $346 |
Median Selling Price |
$280,000 | $324,000 | $279,500 |
Average Selling Price |
$295,667 | $322,000 | $279,500 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
14.4 | 8.7 | 15.2 |
Townhomes | Oct-08 | Nov-08 | Dec-08 |
New Listings |
1 | 1 | 1 |
Total Listings |
1 | 1 | 1 |
Sales Pending |
1 | 0 | 0 |
Homes Sold | 2 | 0 | 1 |
Listings Expired |
0 | 1 | 0 |
Average Days on the Market |
74 | n/a | 8 |
Average Price Per Sq. Ft. |
$285 | n/a | $276 |
Median Selling Price |
$467,500 | n/a | $390,000 |
Average Selling Price |
$467,500 | n/a | $390,000 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
2.2 | n/a | 4.3 |
Search for available Monterey Hills condos and townhomes:
Data taken from ITEC (Pasadena Foothills Association MLS service)
If you are interested in beginning your search
for a Monterey Hills condominium or townhouse, please click on the
search
home link.
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Hills real estate market activity, please feel free to request
market analysis reports with detailed information by clicking
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Posted by Irina
Netchaev, Monterey Hills Real Estate
Agent 626-627-7107