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|
|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|
|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|
|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.
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