Feb. 17, 2009

Monterey Hills Condos and Townhomes Report for January 2009

<p>Monterey Hills condo and townhome inventory is almost non-existent in January.  Two new condos came up on the market and two condos closed escrow. Only one townhome is available for sale on the hill.</p>
<p>Considering there are 21 condo complexes with close to 1,800 condo and townhome units, the supply of condos isn't quite there.  The demand is not quite there as well with price per square foot falling to $277.</p>
<p> </p>
<p>It'll be interesting to track the developments on the hill over the next few months.  In the meantime, here're Monterey Hills statistics for the last three months:</p>
<p> </p>
<p>

<table border="5" cellspacing="0" cellpadding="0" width="436">
<col width="223"></col>
<col span="3" width="71"></col>

<tbody>
<tr height="25">
<td width="223" height="25">Monterey
Hills</td>
<td width="71"><br /></td>
<td width="71"><br /></td>
<td width="71"><br /></td>
</tr>
<tr height="17">
<td width="223" height="17">Condos</td>
<td align="right">Nov-08</td>
<td align="right">Dec-08</td>
<td align="right">Jan-09</td>
</tr>
<tr height="21">
<td width="223" height="21">New
Listings</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">2</td>
</tr>
<tr height="21">
<td width="223" height="21">Total
Listings</td>
<td align="right">8</td>
<td align="right">7</td>
<td align="right">5</td>
</tr>
<tr height="21">
<td width="223" height="21">Sales
Pending</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr height="21">
<td width="223" height="21">Homes Sold </td>
<td align="right">4</td>
<td align="right">2</td>
<td align="right">2</td>
</tr>
<tr height="21">
<td width="223" height="21">Listings
Expired</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">3</td>
</tr>
<tr height="21">
<td width="223" height="21">Average Days
on the Market </td>
<td align="right">100</td>
<td align="right">24</td>
<td align="right">23</td>
</tr>
<tr height="21">
<td width="223" height="21">Average
Price Per Sq. Ft.</td>
<td align="right">$298</td>
<td align="right">$346</td>
<td align="right">$277</td>
</tr>
<tr height="21">
<td width="223" height="21">Median
Selling Price</td>
<td align="right">$324,000</td>
<td align="right">$279,500</td>
<td align="right">$310,000</td>
</tr>
<tr height="21">
<td width="223" height="21">Average
Selling Price</td>
<td align="right">$322,000</td>
<td align="right">$279,500</td>
<td align="right">$310,000</td>
</tr>
<tr height="63">
<td width="223" height="63">Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)</td>
<td align="right">8.7</td>
<td align="right">15.2</td>
<td align="right">10.8</td>
</tr>
<tr height="17">
<td width="223" height="17"><br /></td>
<td><br /></td>
<td><br /></td>
<td><br /></td>
</tr>
<tr height="17">
<td width="223" height="17">Townhomes</td>
<td align="right">Nov-08</td>
<td align="right">Dec-08</td>
<td align="right">Jan-09</td>
</tr>
<tr height="21">
<td width="223" height="21">New
Listings</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">1</td>
</tr>
<tr height="21">
<td width="223" height="21">Total
Listings</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">1</td>
</tr>
<tr height="21">
<td width="223" height="21">Sales
Pending</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr height="21">
<td width="223" height="21">Homes Sold </td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr height="21">
<td width="223" height="21">Listings
Expired</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr height="21">
<td width="223" height="21">Average Days
on the Market </td>
<td>n/a</td>
<td align="right">8</td>
<td>n/a</td>
</tr>
<tr height="21">
<td width="223" height="21">Average
Price Per Sq. Ft.</td>
<td>n/a</td>
<td align="right">$276</td>
<td>n/a</td>
</tr>
<tr height="21">
<td width="223" height="21">Median
Selling Price</td>
<td>n/a</td>
<td align="right">$390,000</td>
<td>n/a</td>
</tr>
<tr height="21">
<td width="223" height="21">Average
Selling Price</td>
<td>n/a</td>
<td align="right">$390,000</td>
<td>n/a</td>
</tr>
<tr height="63">
<td width="223" height="63">Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)</td>
<td>n/a</td>
<td align="right">4.3</td>
<td>n/a</td>
</tr>
</tbody>
</table>
</p>
<h3>
Search for available Monterey Hills condos and townhomes:</h3>
<p>
<iframe src="http://tools.1parkplace.com/mlswizard/MlsRedirect.aspx?userid=39208&amp;search=10502&amp;mode=200&amp;sort=high" SRC="http://tools.1parkplace.com/mlswizard/MlsRedirect.aspx?userid=39208&amp;search=10502&amp;mode=200&amp;sort=high" height="800" width="600"></iframe></p>
<p>Data taken from ITEC (Pasadena Foothills Association MLS service)</p>
<p>If you are interested in beginning your <a title="Monterey Hills condo and townhome search" href="http://www.pasadenacarealestatehomes.com/monterey-hills-condos-and-townhomes-for-sale"><strong>search
for a Monterey Hills condominium or townhouse</strong></a>, please click on the
<strong><a title="Monterey Hills condos and townhomes for sale" href="http://www.pasadenacarealestatehomes.com/monterey-hills-condos-and-townhomes-for-sale">search
home link</a></strong>.</p>
<p>For weekly updates on <a title="Real Estate Market Reports and Statistics" href="http://www.pasadenacarealestatehomes.com/custom/market"><strong>Monterey
Hills real estate market activity</strong></a>, please feel free to request
market analysis reports with detailed information by <a title="Real Estate Market Reports and Statistics" href="http://www.pasadenacarealestatehomes.com/custom/market"><strong>clicking
here</strong></a>.  These reports are gathered and updated by <a title="Altos Research Real Estate Market Reports" href="http://www.altosresearch.com/"><strong>Altos Research</strong></a> and
will be emailed to you with my compliments.</p>
<p>
Posted by <strong><a title="Real estate agent" href="http://www.pasadenacarealestatehomes.com/real-estate/about-us">Irina
Netchaev, Monterey Hills Real Estate
Agent</a></strong>  <strong>               626-627-7107     </strong></p>
<p> </p>

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