When we are looking at Pasadena home sales data for August 2010, please keep in mind that most of these homes have actually went under contract sometime in June or July. Hot summer months - in more ways than one. Yes... it was hot. :) But, for real estate purposes, this is also the busiest home selling activity.
Many Pasadena home buyers take advantage of vacation time or kids being out of school to go shopping for their next home.
August in itself, had the lowest number of new home listings in Pasadena at only 77 comparing to close to 100 in the previous months.
The lowest priced home for sale listed in Pasadena was $220,000.
The highest priced home for sale listed in Pasadena was $6,650,000
Pasadena Single Family Home Sales statistics:
| Single Family Residence | May-10 | Jun-10 | Jul-10 | Aug-10 |
| New Listings | 96 | 97 | 100 | 77 |
| Total Listings | 310 | 308 | 342 | 282 |
| Sales Pending | 87 | 90 | 84 | 50 |
| Homes Sold | 70 | 76 | 73 | 50 |
| Listings Expired | 25 | 29 | 33 | 46 |
| Average Days on the Market | 59 | 58 | 68 | 68 |
| Average Price Per Sq. Ft. | $378 | $401 | $373 | $388 |
| Median Selling Price | $548,000 | $687,000 | $668,000 | $565,000 |
| Average Selling Price | $620,090 | $862,668 | $825,831 | $823,022 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 19.2 | 17.6 | 20.3 | 24.4 |
Let's take a look at the actual Pasadena home sales prices by area:
South West Pasadena
Average price per square foot for homes in the South West Pasadena neighborhood increased by 40.3% from August 2009 to August 2010 from $423 per sq. ft. to $593 per sq. ft.
The South West Pasadena homes also sold 54% faster in the same span of time. The average time on the market for these homes in August 2009 was 93 and in August 2010 was 43 days.
On average the homes in South West Pasadena sold at 98% of list price.
See all Pasadena South West homes for sale here. These home listings are updated "real time".
South East Pasadena
Average price per square foot for homes in the South East Pasadena
neighborhood increased by 38.2% from August 2009 to August 2010 from
$437 per sq. ft. to $605 per sq. ft.
*****Now... take this number with a grain of salt... there was a huge $6.9 million sale (1620 Lombardy) in the area that skewed the price per sq. ft. data. Most of the homes in the South East area sold in the high $600K range****
The South East Pasadena homes, on the other hand, took longer to sell. The average time on the
market for these homes in August 2009 was 56 and in August 2010 was 81
days.
On average the homes in South East Pasadena sold at 93% of list price. Down from 98% in August of 2009
See all Pasadena South East homes for sale here. These home listings are updated "real time".
North West Pasadena
Average price per square foot for homes in the North West Pasadena
neighborhood decreased by 14.8% from August 2009 to August 2010 from
$378 per sq. ft. to $303 per sq. ft.
The North West Pasadena homes
also sold 59.8% faster in the same span of time. The more affordable prices helped move these homes faster and allowed opportunities for first time home buyers. This area has also seen more foreclosures and short sales. The average time on the
market for these homes in August 2009 was 82 and in August 2010 was 33
days.
On average the homes in North West Pasadena sold at 97% of list price.
See all Pasadena North West homes for sale here. These home listings are updated "real time".
North East Pasadena
Average price per square foot for homes in the North West Pasadena
neighborhood dropped slightly by 3% from August 2009 to August 2010 from
$364 per sq. ft. to $353 per sq. ft.
The North West Pasadena homes
also sold 6% faster in the same span of time. The average time on the
market for these homes in August 2009 was 67 and in August 2010 was 71
days.
On average the homes in North West Pasadena sold at 101% of list price. So... yes... we are still seeing multiple offers and overbids in the Pasadena real estate market.
See all Pasadena North East homes for sale here. These home listings are updated "real time".
READ MORE: Pasadena City Guide for all your Relocation Needs
Pasadena Real Estate Guide for all your real estate questions
Interested in seeing what foreclosures are available for sale? Click on the home search button below to search for full access to the Multiple Listing Service.
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!
