The area of North East Pasadena is defined by the local Multiple Listing Service (MLS) as any property with a 91101, 91104, 91106 or 91107 zip code, that lies North of the 210 Freeway. Today, we will focus on condominiums and townhouses that are on the market in this neighborhood.

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KEY Real Estate Statistics for NE Pasadena - October 2010:

Real Estate Inventory:

1. Total Number of North East Pasadena Condos and Townhomes for Sale: 37

2. Number of new listings on the real estate market: 12

3. Number of condominiums/townhouses going under contract (in escrow): 8

4. Number of NE Pasadena condos/townhouses SOLD: 0

North East Pasadena Condo Inventory October 2010

Pasadena Home Pricing:

5. Average Price of Pasadena Condos in the North East neighborhoods for Sale: $359,000

6. Average Sold Price of NE Pasadena Condos for Sale: $271,000 (September 2010 data - no sales in October)

7. Average Price Per Square Foot of Sold Condos: $231 (September 2010 data - no sales in October)

8. Difference of Sold to ORIGINAL List Price: 95% (September 2010 data - no sales in October)

Length of Market Time:

9. Days on the Market: 96 (September 2010 data - no sales in October)

Observations:

North East area of Pasadena seems to have stagnated in condo and townhome sales. The # of available units is quite high resulting in 4 to 6 months of inventory. The price per square foot of these properties has dropped to the lowest in 15 months.

14 out of 37 available units are in some sort of financila distress. 5 units are in foreclosure and 9 units are in pre-foreclosure, short sale stage. The high percentage of distressed properties is strongly affecting the real estate market in the North East quadrant of Pasadena.

North East Condos and Townhomes for Sale:

See the details for above properties on the North East Pasadena listing page as it is updated "real time".

If you are thinking of buying or selling a Pasadena home, Pasadena condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-629-8439.

 

Pasadena Views Real Estate Team

Pasadena Real Estate Agents

(626) 629-VIEW (8439)