The first month of the summer statistics for Pasadena home sales are in. June outperformed May and we're seeing increases in the price per square foot of sold homes, condos and townhomes.
Homes on average are selling at 96.41% of asking price, but 30 out of 68 June home sales sold at full price or over asking. That's almost 50% of sales!
Condos are selling at 96.76% of asking price with 14 of 39 sales at full or above asking price.
Townhomes are doing quite well as well with 3 of 15 selling at or above asking with a 95.71% ratio of sold to asking price.
Home buyers are still out in droves. All you have to do is visit an Open House on Sunday. Multiple offers are more and more frequent which will be evident in the increase of the sold to asking ratio and the Pasadena sales prices when we look at next month's real estate statistics.
Real Estate Statistics for Pasadena CA Home Sales - April 2009 through June 2009:
| Single Family Residence | Apr-09 | May-09 | Jun-09 |
| New Listings | 83 | 97 | 93 |
| Total Listings | 314 | 297 | 313 |
| Sales Pending | 95 | 117 | 111 |
| Homes Sold | 64 | 77 | 68 |
| Listings Expired | 34 | 35 | 31 |
| Average Days on the Market | 109 | 150 | 193 |
| Average Price Per Sq. Ft. | $369 | $364 | $408 |
| Average Selling Price | $638,835 | $695,670 | $881,754 |
| Median Selling Price | $550,000 | $565,000 | $660,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 21.3 | 16.7 | 19.9 |
| Condos | Apr-09 | May-09 | Jun-09 |
| New Listings | 36 | 47 | 38 |
| Total Listings | 148 | 162 | 152 |
| Sales Pending | 30 | 56 | 44 |
| Homes Sold | 25 | 20 | 39 |
| Listings Expired | 23 | 33 | 29 |
| Average Days on the Market | 278 | 116 | 155 |
| Average Price Per Sq. Ft. | $344 | $324 | $330 |
| Average Selling Price | $405,000 | $389,550 | $420,436 |
| Median Selling Price | $330,000 | $360,500 | $430,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 25.7 | 35.1 | 16.9 |
| Townhomes | Apr-09 | May-09 | Jun-09 |
| New Listings | 15 | 16 | 27 |
| Total Listings | 70 | 61 | 71 |
| Sales Pending | 18 | 33 | 24 |
| Homes Sold | 8 | 17 | 15 |
| Listings Expired | 8 | 18 | 5 |
| Average Days on the Market | 162 | 112 | 118 |
| Average Price Per Sq. Ft. | $346 | $317 | $340 |
| Average Selling Price | $442,710 | $ 450,118 | $ 528,200 |
| Median Selling Price | $413,340 | $ 400,000 | $ 480,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 37.9 | 15.5 | 20.5 |
Pasadena real estate data extracted from ITEC (Pasadena Foothill Association of Realtors)
Interested in seeing more historical real estate data for Pasadena Real Estate:
Pasadena Real Estate Housing and Statistics Report for 2003 through 2008
Here's a quick overview of the last 7 days of Pasadena California real estate activity as captured by Altos Research:
Interested in seeing which homes are available for sale? The homes below are updated real time.
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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!
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IRINA NETCHAEV & ASSOCIATES
Pasadena Real Estate Agents
Pasadena, CA
