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Greater Pasadena real estate market trends, valuable news about market conditions, including foreclosure information in Pasadena and surrounding cities plus much more.

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March 20, 2010

San Gabriel Real Estate Homes Sold Statistics for February 2010

San Gabriel homes for sale statistics for the last three months are below for your information. The data below was gathered from the Pasadena Foothill Association Multiple Listing Service. For the most part, the last few months have been pretty steady. Inventory is still low, but is on the rise.

The number of homes sold in San Gabriel have been low during the months of Januray and February. Of course, the homes sold data is related to the homes that went into escrow 30 to 45 days prior to the closing month which puts us back to home sales that took place during the Thanksgiving and Christmas holidays. So the low volume is expected - it's the cyclical nature of real estate.

Single Family Residence Dec-09 Jan-10 Feb-10
New Listings 21 30 34
Total Listings 44 59 68
Sales Pending 11 14 15
Homes Sold 21 12 14
Listings Expired 19 11 10
Average Days on the Market 65 68 37
Average Price Per Sq. Ft. $392 $370 $381
Median Selling Price $545,000 $555,000 $500,500
Average Selling Price $573,113 $618,129 $543,929
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 9.1 21.3 21.0
Condos Dec-09 Jan-10 Feb-10
New Listings 4 1 2
Total Listings 6 3 4
Sales Pending 4 4 1
Condos Sold 0 5 2
Listings Expired 6 3 1
Average Days on the Market n/a 54 28
Average Price Per Sq. Ft. n/a $319 $268
Median Selling Price n/a $395,000 $382,500
Average Selling Price n/a $440,160 $382,500
Absorption Rate (# of weeks to sell current inventory at present rate of sales) n/a 2.6 8.7
Townhomes Dec-09 Jan-10 Feb-10
New Listings 3 0 1
Total Listings 10 12 10
Sales Pending 9 1 3
Townhomes Sold 6 5 3
Listings Expired 2 0 3
Average Days on the Market 63 58 86
Average Price Per Sq. Ft. $338 $309 $288
Median Selling Price $450,000 $450,000 $425,000
Average Selling Price $458,833 $480,600 $423,333
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 7.2 10.4 14.4

Looking back at the last five years of San Gabriel real estate sales data, it looks like the average sold price of homes peaked in May of 2006 at $726,000. In February of 2009, the average sales price was $585,000. This year, same period see the average sales price of $543,000.

However, it's interesting to note that five years ago, in February of 2005, the average sales price of San Gabriel homes was $551,000 which is only 1.5% higher than last month. Given all the hoopla of the real estate market crashing, the home prices held pretty darn good overall.

San Gabriel real estate - 5 year review

If you're interested in seeing all San Gabriel homes for sale, take a look at the listings below, or click on the San Gabriel listing feed here to view homes as they come up on the market.

 

Interested in seeing San Gabriel foreclosure homes? You can find them below:

If you have any questions about the real estate market in San Gabriel or the greater Pasadena area, please give us a call at 626-629-8439.

READ MORE:

Foreclosure Friday - Kinneloa Canyon

Foreclosure Friday - South Pasadena's Monterey Road and South Pasadena's Brunswick bungalow

Foreclosure Friday - Bungalow Heaven Craftsman

PasadenaViews Real Estate Team

Pasadena Real Estate Agents

Pasadena, California

Email Irina

(626)629-VIEW (8439)

 

March 19, 2010

Monrovia Home Sales Statistics for February 2010

Monrovia home sales have remained constant over the last few months. Average price per square foot for single family homes sold has been hovering in the $325/sq. ft. with inventory taking a dip overall from same time last year.

Home buyers in Monrovia have a choice of homes for as little as the low $300,000s to as high as $1,249,000. Only a few condos are available, but these can be picked up under $400,000.

Monrovia is a city just East of Sierra Madre and Pasadena. Lots of nice restaurants and shops can be found on Huntington Drive. Westfield Mall is close enough to provide access to large stores like Nordstrom's and Macy's and a myriad of boutiques, theaters and entertainment.

MORE INFORMATION: See all homes for sale in Monrovia here

Monrovia Inventory February 2010

Single Family Residence Dec-09 Jan-10 Feb-10
New Listings 15 28 17
Total Listings 48 62 58
Sales Pending 18 24 24
Homes Sold 20 16 20
Listings Expired 8 4 3
Average Days on the Market 58 49 51
Average Price Per Sq. Ft. $323 $344 $328
Median Selling Price $455,250 $467,475 $453,900
Average Selling Price $468,970 $522,684 $487,740
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 10.4 16.8 12.6
Condos and Townhomes Dec-09 Jan-10 Feb-10
New Listings 3 5 2
Total Listings 11 10 9
Sales Pending 3 4 1
Homes Sold 14 3 2
Listings Expired 2 0 1
Average Days on the Market 58 45 70
Average Price Per Sq. Ft. $258 $253 $193
Median Selling Price $353,500 $399,000 $240,000
Average Selling Price $331,129 $407,000 $240,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 3.4 14.4 19.5

For more information about Monrovia homes for sale, please do not hesitate to give us a call at 626-629-8439.

PasadenaViews Real Estate Team

Pasadena Real Estate Agents

Pasadena, California

Email Irina

(626)629-VIEW (8439)

 

Feb. 28, 2010

Pasadena Real Estate Home Sales Statistics for January 2010

In reviewing the numbers of home sales in Pasadena California for January 2010 and comparing it to January 2009, the stats that jump out at me are:

Pasadena Single Family Houses for Sale

  • The inventory is a bit lower and it takes a lot less time to sell a home in Pasadena this year than last.
  • Price per square foot of sold homes is actually higher this year than last.
  • Even though there's less inventory, almost twice as many units sold in January of this year than last.
  • And, fewer home listings expired.

Pasadena Condos for Sale

  • Again less inventory this year, but significantly higher number of sales - in January of 2009, only 5 condos sold and 33 in January of 2010.
  • Price per sq. ft. of sold condos is a bit lower at $367 vs. $379
  • Absorption rate is only 19.6 weeks in 2010 vs 158 weeks in 2009

Pasadena Townhouses for Sale

  • A lot more new townhome listings this January than last year. However, the total number of units is consistent at 67.
  • Only 4 townhomes sold in January of 2010 vs 11 in 2009
  • Price per square foot is significantly higher and is over $400. This is most likely driven by a small number of sales. That number will come down in February as volume of sales rises.
Single Family Residence Jan-09 Nov-09 Dec-09 Jan-10
New Listings 81 53 45 67
Total Listings 239 226 204 207
Sales Pending 31 67 65 61
Homes Sold 28 69 68 48
Listings Expired 48 36 53 22
Average Days on the Market 130 67 84 87
Average Price Per Sq. Ft. $333 $368 $330 $355
Median Selling Price $505,000 $620,000 $810,000 $531,500
Average Selling Price $548,981 $714,001 $729,829 $664,954
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 37.0 14.2 13.0 18.7
Condos Jan-09 Nov-09 Dec-09 Jan-10
New Listings 44 24 23 56
Total Listings 183 172 143 149
Sales Pending 2 35 29 33
Condos Sold 5 29 31 33
Listings Expired 24 17 24 37
Average Days on the Market 113 86 67 79
Average Price Per Sq. Ft. $379 $377 $369 $367
Median Selling Price $207,450 $485,000 $398,000 $413,000
Average Selling Price $427,950 $491,121 $474,298 $414,088
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 158.6 25.7 20.0 19.6
Townhomes Jan-09 Nov-09 Dec-09 Jan-10
New Listings 8 14 11 26
Total Listings 67 67 54 67
Sales Pending 6 23 12 2
Townhomes Sold 11 15 27 4
Listings Expired 8 4 20 0
Average Days on the Market 115 59 67 65
Average Price Per Sq. Ft. $349 $397 $373 $421
Median Selling Price $ 462,500 $ 520,000 $ 545,000 $ 503,500
Average Selling Price $ 436,991 $ 539,267 $ 585,007 $ 504,250
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 26.4 19.4 8.7 72.6

Here's a nice visual of Pasadena SFR (houses) inventory. As you can see the number of houses for sale is half of what it was in November of 2008. That has been one of the challenges for real estate agents and home buyers in 2009 - lack of inventory. However, the number of Pasadena homes in the foreclosure process is quite high. However, as lenders are taking back these homes, they're holding on to the inventory and the foreclosure homes are very slowly trickling in to the market place.

READ MORE: Pasadena California Foreclosure Statistics and Forecast

Pasadena California Houses for Sale vs Sold

Looking for a Pasadena Home for Sale? Here's a list of Pasadena homes via direct feed from the MLS:

For more information, take a look at Pasadena home details here.

IRINA NETCHAEV & ASSOCIATES

PasadenaViews Real Estate Team

Pasadena Real Estate Agents

Pasadena, California

Email Irina

(626)629-VIEW (8439)

 

Feb. 24, 2010

Rainbow over San Marino

I woke up to a beautiful rainbow right over my home in San Marino. What a way to start a Monday... Enjoy!

Posted in San Marino
Feb. 6, 2010

Atwater Village Homes for Sale - Los Angeles Real Estate

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Posted in Homes For Sale
Feb. 5, 2010

Wallace Neff Classic in Pasadena California - Luxury Estate for Sale

Last week, I had the opportunity to tour 1649 Lombardy Road in Pasadena California. This gracious home resides among the Pasadena estates that are minutes from the Huntington Library in San Marino and CalTech in Pasadena.

Wallace Neff, the architect known for developing the "California" style of homes excelled himself when he designed this estate in 1924. Since then, this luxury home has been tastefully renovated and is now waiting for a new owner.

READ MORE: Top 10 Luxury Estates sold in Pasadena in 2009

Estate Property Details:

5 Bedrooms and 6 Baths

House was measured to be over 7,300 sq. ft. per agent's brochure

Lot size is 23,425 per assessor

Formal Dining Room

Amazing Great Room with an Open Kitchen

Game Room

3 Car Garage

Zoned HVAC System

Double Gated Driveway

and much, much more...

As you walk through this home, the attention to detail and the use of materials throughout is breathtaking. Take a look at some of these photos, courtesy of Laurie March.

1469 Lombardy Pasadena California

Peace and tranquility with lush landscaping and use of wood floors throughout...

1469 Lombardy Pasadena California Office

Library/Ofice... love the nook for the books and tons of light through the windows.

1469 Lombardy Pasadena California fireplace

Take a look at the tiling around the fireplace and the herringbone pattern on the interior... just beautiful.

1469 Lombardy Pasadena California

Love the floor tiles and the wood paneling... spectacular!

1469 Lombardy Pasadena California

Perfection... need I say more?

1469 Lombardy Pasadena California

Beautiful fixtures...

1469 Lombardy Pasadena California

Beautiful use of tiles and muted tones...

1469 Lombardy Pasadena California

Love the fixtures AND the tiles...

1469 Lombardy Pasadena California

Mud room in California? Martha Stewart will feel at home here!

1469 Lombardy Pasadena California

Great use of space!

This home is listed by Mark Ogden of Sotheby's International.

The last sale on this street was at 1661 Lombardy Road and closed at $4,050,000, but the home was 4,714 sq. ft. Significantly smaller than this one.

Can you see yourself living here? I sure can!

Interested in seeing what other luxury estates are available in the area? See below... the information for these homes will be updating real time as new homes come up on the real estate market.

 

See all Luxury Estates in Pasadena over $3 Million.

If you are interested in getting more information about this home or making it your own, give me a call at 626-629-8439.

Feb. 5, 2010

Luxury Estates in Pasadena California - Cal Tech and San Marino adjacent

[idx-listings linkid="124448" count="1000" showlargerphotos="true"]

Posted in Buyers, Homes For Sale
Feb. 4, 2010

La Crescenta Foreclosure Homes for Sale - Los Angeles Real Estate

[idx-listings linkid="124430" count="100" showlargerphotos="true"]

Feb. 4, 2010

Glendale REOs - Foreclosures for Sale - Bank Owned Real Estate in Los Angeles

[idx-listings linkid="124450" count="1000" showlargerphotos="true"]

Jan. 24, 2010

California Foreclosures Statistics: What Happens at Home Auctions?

What really happens when properties finally hit the auction block? Well... here's an interesting chart looking at all the foreclosure home auctions in the state of California from December 20098 through 2009. It shows that most of the properties are bought back by the bank - take a look at the red line.

However, let's take a closer look at the dark line, the one in the middle that is on the rise. It shows the number of homes where the auctions have been cancelled. Reasons for it? Many distressed home sellers are trying to minimize the impact on their credit score by negotiating a short sale on their property with the bank. In many instances, if a home seller or a real estate agent negotiating on their behalf, can bring an offer to the bank, the lender will cancel or delay the auction date.

So... if you are a Pasadena neighborhood home owner ready to walk away from your home and leave it for the bank... Wait... there might be a way to have you walk away with a smaller dent on your credit. Contact a reputable real estate agent experienced with working short sales.

California Foreclosure Statistics for December 2008 through December 2009:

CA Outcomes

The orange line shows the number of homes that were purchased by investors or 3rd parties. As you can see the numbers are significantly lower - less than 1 in 6 homes that are up for auction fall into this category. Reasons are many - investors need all cash, they accept tremendous risk and inherit any and all title claims to the property.

READ MORE: What happens to your credit after foreclosure or a short sale?

Pasadena Foreclosure statistics

If you are interested in seeing more data on foreclosure statistics in California, please visit our Foreclosure Search site. If you are home owner that is having financial difficulties and need to understand your options, please do not hesitate to give us a call.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

Pasadena, California

(626)629-VIEW(8439)