Monterey Hills Real Estate Update
It's time to take a look at The Hill - Monterey Hills! Inventory, unfortunately, is still extremely low. Let's take a look at the chart below from Trendgraphix documenting the real estate data from Pasadena Foothill Association of Realtors.
It's interesting to note that unit volume went down 56.7% from April of 2007 to April of 2010, from 69 units to only 30 available Monterey Hills properties for sale.
Only a few listings are coming on the market each months and very few sales are closing.
Additional Monterey Hills statistics to consider:
| Condos | Feb-10 | Mar-10 | Apr-10 | May-10 |
| New Listings |
4 | 9 | 11 | 4 |
| Total Listings |
19 | 19 | 23 | 23 |
| Sales Pending |
6 | 8 | 8 | 8 |
| Homes Sold | 2 | 5 | 4 | 2 |
| Listings Expired |
3 | 2 | 4 | 3 |
| Average Days on the Market |
73 | 50 | 59 | 58 |
| Average Price Per Sq. Ft. |
$247 | $291 | $282 | $251 |
| Median Selling Price |
$327,500 | $325,000 | $336,500 | $248,500 |
| Average Selling Price |
$327,500 | $318,900 | $340,625 | $248,500 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
41.2 | 16.5 | 24.9 | 49.8 |
| Townhomes | Feb-10 | Mar-10 | Apr-10 | May-10 |
| New Listings |
1 | 1 | 0 | 0 |
| Total Listings |
2 | 1 | 1 | 1 |
| Sales Pending |
2 | 1 | 0 | 0 |
| Homes Sold | 0 | 0 | 1 | 2 |
| Listings Expired |
0 | 0 | 1 | 0 |
| Average Days on the Market |
n/a | n/a | 36 | n/a |
| Average Price Per Sq. Ft. |
n/a | n/a | $277 | n/a |
| Median Selling Price |
n/a | n/a | $445,000 | n/a |
| Average Selling Price |
n/a | n/a | $445,000 | n/a |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
n/a | n/a | 4.3 | n/a |
Looking backwards... if you bought a Monterey Hills condo 10 years ago and held on to the property, what kind of returns would you expect to see? Let's take a look below:
Not bad... a nice return of close to 150%.
Here's a look of Monterey Hills homes available for sale now:
And, if you're interested in seeing all the details of these condos and townhomes, please bookmark Monterey Hills condos and townhomes for sale post which is updated every few hours with the most current real estate listing information.
For more information on specific complexes, read more below:
PasadenaViews
Real Estate Team
Monterey Hills
Real
Estate Agents
Pasadena, California
