April 21, 2010

Monterey Hills Condo Sales are on the Rise

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:

Austin Terrace

Bradley Court - PUDs

Huntington Terrace

Fremont Villas

Linden Heights

Vallejo Villas

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

Email Irina

(626)629-VIEW (8439)

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