As the 2009 is coming to a close, I thought that it would be interesting to compare November 2008 to November 2009 real estate statistics for Pasadena California.
Some Highlights:
- It was interesting to note that the number of homes sold in all categories was significantly higher last month vs. a year ago. The overall Pasadena real estate inventory was lower, thus the reduction in the number of weeks of inventory on the market.
- There was a significant drop in new listings for both townhomes and condos in November 2009. Single family homes remain consistent in about 50+ Pasadena homes listed in November.
- The price per square foot dropped significantly for single family homes - 9% lower than in 2008. Townhomes have dropped from $426 to $397. Pasadena condos remain at $377 per sq. ft.
| Single Family Residence | Nov-08 | Nov-09 |
| New Listings | 56 | 53 |
| Total Listings | 261 | 226 |
| Sales Pending | 29 | 67 |
| Homes Sold | 42 | 69 |
| Listings Expired | 53 | 36 |
| Average Days on the Market | 115 | 67 |
| Average Price Per Sq. Ft. | $402 | $368 |
| Median Selling Price | $445,750 | $620,000 |
| Average Selling Price | $699,591 | $714,001 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 26.9 | 14.2 |
| Condos | Nov-08 | Nov-09 |
| New Listings | 39 | 24 |
| Total Listings | 159 | 172 |
| Sales Pending | 7 | 35 |
| Condos Sold | 17 | 29 |
| Listings Expired | 27 | 17 |
| Average Days on the Market | 110 | 86 |
| Average Price Per Sq. Ft. | $377 | $377 |
| Median Selling Price | $455,000 | $485,000 |
| Average Selling Price | $428,641 | $491,121 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 40.5 | 25.7 |
| Townhomes | Nov-08 | Nov-09 |
| New Listings | 27 | 14 |
| Total Listings | 68 | 67 |
| Sales Pending | 10 | 23 |
| Townhomes Sold | 5 | 15 |
| Listings Expired | 5 | 4 |
| Average Days on the Market | 36 | 59 |
| Average Price Per Sq. Ft. | $426 | $397 |
| Median Selling Price | $ 575,000 | $520,000 |
| Average Selling Price | $ 604,600 | $539,267 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 58.9 | 19.4 |
Take a look at the inventory of homes for sale vs sold below. The number of available Pasadena homes for sale has decreased by over 50% from September 2008 to November 2009.
Also, an intersting chart below graphing the number of newly listed homes in Pasadena to the number of closed sales. November usually seeing the end of year slow down had a spur of sales this year most likely driven by the tax credit and low interst rates.
Pasadena Homes for Sale:
The feeds below are direct from the Multiple Listing Service
Pasadena Condos and Townhomes for Sale:
To search for your new Pasadena home, and all other homes available in the Greater Los Angeles area please visit Search MLS for FREE.
If you are thinking of buying or selling your Pasadena home, condo or townhome and would like a free comprehensive consulation. We'd love to meet with you! We can be reached at 626-629-VIEW(8439).
IRINA NETCHAEV & ASSOCIATES
Pasadena Real Estate Agents
Pasadena, California
