Monterey Hills condo sales are slowly.... very slowly... rising. Only 4 closed condo sales last month. However, the inventory of newly listed condo units is up to 9 last month with the overall volume still staying under 20 properties.
If you are shopping for a Monterey Hills townhome, you have a long wait... nothing is coming up for sale. Home owners in Monterey Hills are holding on to their condos and townhomes and rent them vs sell them to avoid taking a hit in the selling price.
Since this area is only minutes to downtown LA and is loved by USC Medical students for the convenience to the USC medical center, Pasadena's old town, restaurants and shops, these Pasadena agent condos are quite easy to rent. Most units are 2 bedrooms and 2 baths and quite a few floor plans have 2 master suites with bedrooms on opposite sides of the living room - great for room mates.
READ MORE:
Top 10 Tips on Buying a condo in Monterey Hills
Here's what the last couple of months of real estate sales look like.
Monterey Hills Condos and Tonwhome Sales Information for 1Q10:
| Condos | Jan-10 | Feb-10 | Mar-10 |
| New Listings |
8 | 4 | 9 |
| Total Listings |
18 | 19 | 19 |
| Sales Pending |
7 | 6 | 8 |
| Homes Sold | 1 | 2 | 5 |
| Listings Expired |
2 | 3 | 2 |
| Average Days on the Market |
13 | 73 | 50 |
| Average Price Per Sq. Ft. |
$342 | $247 | $291 |
| Median Selling Price |
$225,000 | $327,500 | $325,000 |
| Average Selling Price |
$225,000 | $327,500 | $318,900 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
78.0 | 41.2 | 16.5 |
| Townhomes | Jan-10 | Feb-10 | Mar-10 |
| New Listings |
0 | 1 | 1 |
| Total Listings |
2 | 2 | 1 |
| Sales Pending |
0 | 2 | 1 |
| Homes Sold | 0 | 0 | 0 |
| Listings Expired |
1 | 0 | 0 |
| Average Days on the Market |
n/a | n/a | n/a |
| Average Price Per Sq. Ft. |
n/a | n/a | n/a |
| Median Selling Price |
n/a | n/a | n/a |
| Average Selling Price |
n/a | n/a | n/a |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
n/a | n/a | n/a |
If you are interested in Monterey Hills and would like to get more informaiton about specific Monterey Hills complexes, take a look at these informative articles below:
As always, if you have any questions about Monterey Hills real estate or need help with buying a condo, give us a call. If you are thinking of selling your Monterey Hills condo or townhomes, we have buyers - so please call us to discuss what your condo or townhome is worth. We're always happy to be of service.
PasadenaViews
Real Estate Team
Monterey Hills Real
Estate Agents
Pasadena, California
