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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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The median sales price in Alhambra in October is $525,000. On average, Alhambra homes stayed on the market for 145 days before selling.
Alhambra inventory is tightening and days on the market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.
The ALHAMBRA market is currently quite strongly in the Buyer's Market zone (below 30). The 90-day Market Action Index stands at 17. With several months of inventory available at the current sales rate, buyers should find ample choice. The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall.
Single Family Residence |
Aug-08 | Sep-08 | Oct-08 |
New Listings |
18 | 14 | 12 |
Total Listings |
67 | 54 | 52 |
Sales Pending |
9 | 12 | 8 |
Homes Sold | 21 | 13 | 13 |
Listings Expired |
9 | 12 | 12 |
Average Days on the Market |
82 | 213 | 145 |
Average Price Per Sq. Ft. |
$363 | $328 | $360 |
Average Median Price |
$495,000 | $525,000 | |
Average Selling Price |
$484,967 | $693,241 | $517,808 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
13.8 | 18.0 | 17.3 |
Condos and Townhomes |
Aug-08 | Sep-08 | Oct-08 |
New Listings |
11 | 10 | 10 |
Total Listings |
36 | 37 | 35 |
Sales Pending |
10 | 4 | 11 |
Homes Sold | 8 | 9 | 5 |
Listings Expired |
7 | 10 | 6 |
Average Days on the Market |
103 | 40 | 66 |
Average Price Per Sq. Ft. |
$296 | $316 | $271 |
Average Median Price |
$412,500 | $365,000 | |
Average Selling Price |
$364,944 | $403,299 | $349,000 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
19.5 | 17.8 | 30.3 |
Data compiled from ITEC (Pasadena Foothill Association Multiple Listing
Service)
If you would like to search
for homes in Alhambra, please visit the free
home search here on this real
estate website.
For a private consultation about buying or selling your Alhambra
home, or if you have other real estate related questions, I'd love to
hear from you at 626.629-8439.
Posted by Irina Netchaev, real estate broker
Monterey Hills real estate is in a flux of confusion right now. Even though the volume of available condos and townhomes on the market is quite low, the prices are dropping at a rapid pace. The area has been affected by a number of short sales and foreclosures that are pulling the sales prices down. Buyers are taking a "wait and see" attitude.
It is now reasonable to expect to find a decent 2 bedroom condo with all the amenities for under $300,000. Monterey Hills sellers are still hoping for the mid $300,000 where the majority of the condo listings are. This will explain an average days on the market of the October condo listings of 142 days - over 3 months. These condos are also listed at an average of $333 per sq. ft. vs. the sold price per sq. ft. of $268. I don't see the market getting better for these sellers, but amazing opportunities exist for Monterey Hills condo buyers.
Condos | Aug-08 | Sep-08 | Oct-08 |
New Listings |
2 | 2 | 1 |
Total Listings |
14 | 12 | 10 |
Sales Pending |
2 | 3 | 2 |
Homes Sold | 2 | 2 | 3 |
Listings Expired |
7 | 3 | 4 |
Average Days on the Market |
77 | 108 | 75 |
Average Price Per Sq. Ft. |
$295 | $313 | $268 |
Median Selling Price |
$425,000 | $280,000 | |
Average Selling Price |
$344,450 | $394,500 | $295,667 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
30.3 | 26.0 | 14.4 |
Townhomes | Aug-08 | Sep-08 | Oct-08 |
New Listings |
2 | 0 | 1 |
Total Listings |
4 | 1 | 1 |
Sales Pending |
0 | 3 | 1 |
Homes Sold | 1 | 3 | 2 |
Listings Expired |
2 | 0 | 0 |
Average Days on the Market |
122 | 57 | 74 |
Average Price Per Sq. Ft. |
$401 | $307 | $285 |
Median Selling Price |
$394,500 | $467,500 | |
Average Selling Price |
$655,000 | $425,667 | $467,500 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
17.3 | 1.4 | 2.2 |
Data taken from ITEC (Pasadena Foothills Association MLS service)
If you are interested in beginning your search
for a Monterey Hills condominium or townhouse, please click on the
search
home link.
For weekly updates on Monterey
Hills real estate market activity, please feel free to request
market analysis reports with detailed information by clicking
here. These reports are gathered and updated by Altos Research and
will be emailed to you with my compliments.
Posted by Irina
Netchaev, Monterey Hills Real Estate Agent 626-627-7107
Arcadia home sales came to a standstill in October. The number of new properties on the market increased for all categories - homes, condos and townhomes. The total number of units increased and the absorption rate is the highest it's been in awhile.
Interestingly enough, when I am out looking for homes in Arcadia under $1 million with my clients, we are having a difficult time finding decent properties iln that less than $1 million range. These homes tend to sell fairly quickly if they are in good condition and priced appropriately for the market. The homes over $1 million are being marketed much longer even if the price per square foot is reasonable. Partly, this has to do with the difficulty of obtaining financing and the higher down payment requirements that banks are requiring Arcadia buyers to put down.
Read More: California Housing Outlook by CAR (California Association of Realtors) Chief Economist
Back to statistics - Arcadia homes that are currently offered for sale are priced at an average of $451 per square foot. The solds tell the story of why these homes are sitting on the market for so long - Arcadia homes that closed escrow, sold for $378 per sq. ft. in October. There are also 6 foreclosures or bank owned properties available for Sale in Arcadia now.
The lowest priced Arcadia home on the market in October was 11314 E La Rosa Street. It is offered at $410,000 and has 3 bedrooms and 2 baths with 1,400 sq. ft.
The most expensive Arcadia home in October was 330 West Naomi Avenue. Offered at $3,680,000, it has 7 bedrooms and 8 baths and has an amazing 8,166 sq. ft.
Single Family Residence |
Aug-08 | Sep-08 | Oct-08 |
New Listings |
31 | 42 | 55 |
Total Listings |
106 | 129 | 152 |
Sales Pending |
16 | 22 | 22 |
Homes Sold | 31 | 31 | 21 |
Listings Expired |
19 | 26 | 25 |
Average Days on the Market |
188 | 56 | 134 |
Average Price Per Sq. Ft. |
$416 | $427 | $378 |
Median Selling Price |
$825,000 | $808,000 | $780,000 |
Average Selling Price |
$1,007,310 | $951,542 | $900,643 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
14.8 | 18.0 | 31.4 |
Condos | Aug-08 | Sep-08 | Oct-08 |
New Listings |
4 | 7 | 18 |
Total Listings |
17 | 19 | 30 |
Sales Pending |
3 | 3 | 1 |
Condos Sold | 5 | 8 | 3 |
Listings Expired |
2 | 9 | 3 |
Average Days on the Market |
153 | 138 | 92 |
Average Price per Sq. Ft. |
$303 | $292 | $327 |
Median Selling Price |
$435,000 | $541,500 | $385,000 |
Average Selling Price |
$456,800 | $502,350 | $411,000 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
14.7 | 10.3 | 43.3 |
Townhomes | Aug-08 | Sep-08 | Oct-08 |
New Listings |
6 | 15 | 11 |
Total Listings |
20 | 32 | 29 |
Sales Pending |
1 | 8 | 5 |
Townhomes Sold | 7 | 7 | 3 |
Listings Expired |
11 | 5 | 7 |
Average Days on the Market |
83 | 55 | 123 |
Average Price Per Sq. Ft. |
$349 | $293 | $338 |
Median Selling Price |
$539,000 | $630,000 | $680,000 |
Average Selling Price |
$603,571 | $581,698 | $635,000 |
Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
12.4 | 19.8 | 41.9 |
Data taken from ITEC (Pasadena Foothills Association MLS service)
For weekly updates on Arcadia
real estate market activity, please feel free to request market
analysis reports with detailed information by clicking here to be taken to the market analysis website page. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.
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[idx-listings city="Pasadena" propertytypes="513" orderby="DateAdded" orderdir="DESC" count="100" showlargerphotos="true"]
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In today's economic downturn, real estate investors are coming out in droves. Why? Because it is truly a great time to buy residential property for their personal investment portfolio.
The mortgage interest rates are at historic lows. There's lots of inventory to choose from and there are plenty of motivated sellers!
Rents are holding steady because many potential home buyers are unable to secure financing or do not have a large enough down payment enabling them to buy a home. This increases the pool of renters and allows investors to get high enough rents to cover their debt. Most investors are looking at holding their properties for rental income and are not necessarily focusing on appreciation. Although, living in Pasadena and Southern California, means that appreciation will be there over the long term.
Read More:
State of the California and Pasadena Housing Market
Nine Stupid Things Buyers do to Mess Up their Home Purchase
Prado on Green Street in Pasadena is one of the best newer developments in the South Lake Business District. The complex features amenities like a pool, recreation room, gym and bbq area. However, it also features a private movie theater, an internet coffee cafes and conference rooms for visitors or business. Let's not forget the 24 hour concierge service.
You are only minutes from Macy's, Trader Joe's, multiple stores and boutiques and wonderful restaurants. This is truly Pasadena living at its best.
Condominium interior is very modern with exposed piping, cement floors and offer gourmet, chef inspired kitchens, granite counters and top of the line appliances including washer & dryer in most units. One to two bedroom unit floor plans are available as well as two-story, magnificent penthouses with floor to ceiling 2-level windows.
Below is a list of the most recent listings as well as a map below it for your convenience. Should you see no condos for sale listed below, it would mean that none are available for sale at this time. You can always give us a call at (626) 629-8439 and we can reach out to our network to see if there are any Prado units coming up for sale.
In the meantime, happy Prado condo shopping!
READ MORE: Pasadena real estate update 2012 – see luxury home sales.
Irina is a Top Realtor and the founder and President of Pasadena Views Real Estate Team™. She is available to assist you in all of your Real Estate transactions. Email or call her today at (626)629-8439.
Are you relocating to Pasadena? If so, take a look at our 365 Things To Do In Pasadena® . Call us at 626-629-8439 to schedule a time for your free home buyer or home seller consultation!
If you are looking for homes for sale in Pasadena, specifically in the Prospect Park neighborhood, book mark this post. The list of homes below will update automatically as new Pasadena homes come up on the market and are entered into the Multiple Listing Service by real estate agent.
To search all homes for sale in Pasadena and Southern California, please visit our Home Search where you can create your own searches, save them and have our website send you new home listings via email.
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